Grupo Modelo and Molson Strengthen Existing Relationship in Canada
The joint venture will build on the existing successful arrangement whereby Molson imports, distributes and markets Modelo brands in Ontario, Quebec and the Atlantic provinces.
26/11/07 Grupo Modelo, S.A.B. de C.V. (gmodeloc), brewer of Canada's number one imported beer, Corona Extra, Molson Coors Brewing Company (TAP) and Molson Canada announced that they have signed a letter of intent to establish a long-term joint venture to import, distribute and market the Modelo beer brand portfolio in all Canadian provinces and territories, effective January 1, 2008.
The joint venture will build on the existing successful arrangement whereby Molson imports, distributes and markets Modelo brands in Ontario, Quebec and the Atlantic provinces. Under the new arrangements, Molson Sales organization will be responsible for selling the brands countrywide on behalf of the joint venture.
The joint venture is subject to the successful negotiation of legally binding definitive agreements and the obtainment of all necessary approvals and authorizations.
