Kentucky-based Blue Run complements Molson
Coors’ growing spirits portfolio with high-end, award-winning
bourbon and rye whiskies
Blue Run co-founder and CEO Mike Montgomery to
lead expanded Coors Spirits Co. team
Molson Coors Beverage Company ("MCBC" or "Molson Coors")
(NYSE: TAP, TAP.A) has reached an agreement to acquire Blue Run
Spirits (“Blue Run”), a visionary and award-winning producer of
finely crafted bourbon and rye whiskies. The deal represents
another step in Molson Coors’ evolution as a total beverage company
while providing Blue Run with resources to continue its growth.
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Based in Georgetown, Kentucky, Blue Run is one of the whiskey
industry’s most compelling new entrants since the brand’s launch in
October 2020. The company has won numerous awards, including Best
Small Batch Bourbon - 11 Years Old & Older and Best Single
Barrel Bourbon - 11 Years Old & Older at the 2021 San Francisco
World Spirits Competition, and most recently was awarded Best High
Rye Bourbon at the 2023 New Orleans Spirits Competition. It has
also gained international acclaim among whiskey experts and
branding aficionados who laud Blue Run’s divergence from
traditional industry norms, which Forbes has called “sneakerizing
the bourbon industry,” with premium whiskies that generate intense
interest with each release.
As Molson Coors’ first spirits acquisition, the addition of Blue
Run boosts the company’s footprint in spirits as it continues to
evolve from its storied history as a beer company and premiumize
its portfolio. In tandem with the acquisition, Molson Coors has
established Coors Spirits Co., an expansion of its existing spirits
business, which will house Blue Run, Five Trail Blended American
Whiskey, Barmen 1873 Bourbon and future innovation. This
acquisition will more than double the size of Molson Coors’ spirits
team, further supporting the company’s premiumization strategy.
Molson Coors entered the whiskey space with the 2021 launch of
Five Trail Blended American Whiskey (which won double gold at the
2022 San Francisco World Spirits Competition) and the 2022
introduction of Barmen 1873 Bourbon.
“Molson Coors has been on a journey to broaden beyond our beer
roots and build powerful brands in growing categories, and Blue Run
joining us is an exciting next step as we establish Coors Spirits
Co.,” Molson Coors’ Chief Commercial Officer Michelle St. Jacques
said. “Blue Run has accomplished in three years what many brands
hope to do in a generation and has done it at the luxury end of the
whiskey category. Importantly, we are committed to maintaining Blue
Run’s well-known quality, design and innovation as we continue to
grow our spirits portfolio.”
Currently available in 31 states, Blue Run, with its trademark
butterfly medallion on the bottle, can be found at retail and
on-premise accounts in every region of the U.S and online. In March
2023, Blue Run announced plans to build a distillery in Kentucky.
Those plans will continue as part of the Molson Coors family. In
addition, Blue Run has three new whiskies slated for late
summer/fall release.
Blue Run’s founders – Mike Montgomery, Tim Sparapani, Jesse
McKnight and Andy Brown – will all remain with the brand.
Montgomery will take on an expanded role with Molson Coors as its
vice president of Coors Spirits Co. Bourbon Hall of Famer Jim
Rutledge will continue to serve as Blue Run’s distillery consultant
and liquid advisor and recognized, whiskey community rising star
Shaylyn Gammon will serve as whiskey curator for Coors Spirits Co.
David Coors will continue to lead Molson Coors’ full-strength
spirits strategy and business development as executive chair of
Coors Spirits Co.
“Since launching Blue Run, we have always strived to do things a
little differently to truly embrace today’s younger, more diverse
generation of whiskey drinkers,” Montgomery said. “We are humbled
by how the whiskey community has embraced our vision and that
Molson Coors wants to join and support us in this journey.”
Blue Run was represented by Samos Capital of Southlake, TX in
the transaction and is legally represented by Foley and Lardner LLP
of Milwaukee and Kaplan, Johnson, Abate and Bird LLP of Louisville,
in addition to being supported by Joseph Goode and Cody Matthews of
Truist Bank of Charlotte, NC. Molson Coors was legally represented
by Quarles and Brady LLP of Milwaukee.
EDITOR NOTE: Media images can be found HERE.
ABOUT MOLSON COORS BEVERAGE
COMPANY
For more than two centuries, Molson Coors has brewed beverages
that unite people for all life's moments. From Coors Light, Miller
Lite, Molson Canadian, Carling, and Staropramen to Coors Banquet,
Blue Moon Belgian White, Leinenkugel's Summer Shandy, Vizzy Hard
Seltzer, Topo Chico Hard Seltzer, Simply Spiked Lemonade, Creemore
Springs and more, Molson Coors produces some of the most beloved
and iconic brands ever made. While the company's history is rooted
in beer, Molson Coors offers a modern portfolio that expands beyond
the beer aisle with energy drinks, bottled spirits, ready-to-drink
cocktails, cider and more. To learn more about Molson Coors
Beverage Company, visit molsoncoors.com.
ABOUT COORS SPIRITS CO.
Coors Spirits Co. was established in 2023 to house Molson Coors’
growing spirits division as part of the company’s shift from a beer
company to a total beverage company. Molson Coors’ entry into
spirits began with the 2021 launch of Five Trail Blended American
Whiskey, which gained quick accolades that included Double Gold at
the 2022 San Francisco World Spirits Competition. In spring 2023,
the company added Barmen 1873 Bourbon (a reference to the hometown
of Coors Brewing founder Adolph Coors and the year he established
the brewery in Golden, Colo.) to its lineup. And in August of 2023,
Molson Coors acquired Blue Run Spirits of Georgetown, Ky, a
distiller of luxury bourbons and rye whiskies to complement the
portfolio. Further innovation is planned for the years to come.
ABOUT BLUE RUN SPIRITS
Georgetown, Kentucky-based Blue Run Spirits is an evolution of
the traditional spirits company, creating award-winning bourbon and
rye whiskies through time-honored traditions matched with
inclusive, forward-looking vision. It all starts with the whiskey
itself, carefully crafted by Blue Run Distillery Consultant and
Liquid Advisor, Bourbon Hall of Famer Jim Rutledge and Whiskey
Director Shaylyn Gammon. That precious liquid is then housed in
striking packaging adorned with Blue Run’s signature butterfly
medallion, marking the metamorphosis of a centuries-old industry as
Blue Run reaches across the bar to welcome today’s younger, broader
and more diverse whiskey drinker. Blue Run Spirits was founded in
2020 and was named one of the 50 most innovative companies in
America by Bloomberg.
MOLSON COORS’ FORWARD-LOOKING
STATEMENTS
This press release includes “forward-looking statements” within
the meaning of the U.S. federal securities laws, including
statements regarding Molson Coors’ strategy and organizational
initiatives and goals. Although Molson Coors believes that the
assumptions upon which its forward-looking statements are based are
reasonable, it can give no assurance that these assumptions will
prove to be correct. Actual events or results may differ materially
from those contained in the forward-looking statements due to
risks, uncertainties and assumptions. These factors include those
detailed in Molson Coors’ public filings with the SEC, including
its most recent Annual Report on Form 10-K. You should not place
undue reliance on forward-looking statements, which speak only as
of the date they are made. Molson Coors does not undertake to
update any forward-looking or other statements in this release,
except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230808776583/en/
Josh Noel Josh.Noel@molsoncoors.com
Molson Coors Beverage (NYSE:TAP.A)
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