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Craft Brew News 11/01/19
(Courtesy of Brewbound - www.Brewbound.com)
Molson Coors CEO Discusses Restructuring Plans, New Hard Seltzer Launch During Q3 Earnings Call
Molson Coors’ future direction became more clear today following the announcement that the company will restructure its operations and slash its workforce.
The $150 million annual savings will be reinvested in marketing to support core brands such as Coors Light and Miller Lite, drive innovation in non-beer products such as Cape Line Sparkling Cocktails and Arnold Palmer Spiked, and above-premium offerings such as Blue Moon and Peroni.
The prioritizing of beyond beer products is reflected in the company’s new name, effective in 2020: Molson Coors Beverage Company. This move makes Molson Coors the first among the world’s largest beer companies to remove “beer” or “brewing” from its name.
Among these beyond beer innovations is Vizzy, a 5% ABV, 100-calorie hard seltzer “infused with super fruits,” according to a slide during the earnings presentation.
During Q3, Molson Coors’ company-wide revenue declined 3.2%, to $2.8 billion, while worldwide brand volumes declined 2.4%.
For 2020, which Molson Coors is labeling a “transition year,” the company is estimating net sales revenue to be flat to down low-single digits.
Truly Hard Seltzer Boosts Boston Beer Company to Double-Digit Growth
Boston Beer Company reported strong earnings during its third-quarter earnings call Tuesday evening.
Boston Beer founder Jim Koch said, “I am tremendously proud of the efforts of all of our coworkers in achieving our sixth consecutive quarter of double-digit growth,”
Hard seltzer continued to drive the lion’s share of Boston Beer’s growth. Truly Hard Seltzer generated triple-digit volume growth during a quarter in which the company launched Truly Draft, announced a new Watermelon Kiwi flavor, reformulated all Truly flavors, revealed plans to launch Truly Hard Seltzer Lemonade in early 2020, struck a sponsorship deal with the National Hockey League, and released a new Truly television campaign featuring actor Keegan-Michael Key.
To accomodate Truly’s growth, Boston Beer will add a canning line to its production brewery in Breinigsville, Pennsylvania, and the company has “significantly increased our available sleek can capacity at third-party breweries”.
Courtesy of AP
Last call: Utah is set to tap out on low-alcohol beer sales
SALT LAKE CITY (AP) — The first change to beer alcohol limits since the end of Prohibition nearly a century ago is coming to Utah.
The state will become the next-to-last in the country to say goodbye to lower-alcohol 3.2% beer on Friday, when drinkers welcome new, slightly stronger brews to grocery stores, gas stations and bars.
Lawmakers have raised the limits to a still-low 4% by weight, yielding as large breweries decided to stop making lower-alcohol suds for a market that’s shrinking amid changing laws. The change leaves Minnesota as the last state to have 3.2% beer.
Almost the entire country once had similar limits, said Maureen Ogle, author of “Ambitious Brew: A History of American Beer.” It was set by Congress to allow lighter brews to be made before the formal end of Prohibition in 1933.
In the last remaining holdout, Minnesota Republican Sen. Karin Housley said she would “aggressively pursue legislation to modernize our state’s antiquated liquor laws” during the next legislative session.
In Utah, the state’s predominant religious faith, The Church of Jesus Christ of Latter-day Saints, teaches abstinence from alcohol and strict liquor laws continue to hold sway. Last year, lawmakers passed the lowest DUI threshold in the country at .05%.
This year, though, big retailers like Wal-Mart and others pushed for changes so they could keep their stores stocked with national beer brands. The new 4% limit, also measured as 5% by volume, was a compromise with the influential church, which had opposed going higher.
The makers of national beers like Budweiser are marking the occasion with new marketing efforts in the state. The iconic Budweiser Clydesdale were in Salt Lake City this week to mark the occasion with a mock funeral, compete with life-sized coffin and costumed grim-reaper pallbearers walking the streets to cheers.
(Courtesy of US News and World Report)
Spiked Seltzer vs. Beer: Which Is Healthier?
SPIKED SELTZER IS having a moment. First, flavored fizzy waters became popular. Now brands are adding alcohol into the mix. According to Nielsen, hard seltzer sales have increased by more than 200% in the past year. Much of this growth is thought to be driven by people seeking alternatives beyond malt beverages and beer.
Spiked seltzers sit in a unique space between beer and traditional mixed drinks. This isn't your standard seltzer or soda water poured over vodka or gin. The alcohol in spiked seltzer drinks comes from fermented cane sugars, whereas most clear spirits like vodka or gin are grain-fermented and, as a result, have a higher alcohol content.
Most of us wouldn’t drink several cans of beer and think we were making a health-promoting choice. But many think that sipping spiked seltzer all day is a healthy option. This health halo around spiked seltzer means that you may end up drinking much more than you realize since you believe it to be better for you.
At the end of the day, it comes down to which beverage you enjoy more and which you feel like drinking at that moment. It’s important to consider the taste and mental satisfaction, as pleasure and enjoyment are important components of a healthy diet.
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