CHICAGO — Molson Coors Beverage Co. is discontinuing 11 “economy” brands in an effort to streamline its U.S. portfolio and focus on higher-end brands, according to a MarketWatch report.
The eliminated brands are Milwaukee’s Best Premium, Henry Weinhard’s Private Reserve, Keystone Ice, Hamm’s Special Light, Keylightful, Icehouse Edge, Magnum, Mickey’s Ice, High Life Light, Steel Reserve 211 and Olde English HG 8000, the company confirmed for CSP Daily News.
“Premiumization is here to stay at Molson Coors,” Gavin Hattersley, CEO of Chicago-based Molson Coors, said on the company’s second-quarter earnings call. “We’re going to invest bigger behind our fast-growing global hard seltzer portfolio. And we’re going to permanently streamline our smaller portfolio of legacy brands.”
Molson Coors released the list of discontinued brands in an email obtained by the news agency and mentioned the decision on the earnings call. In a separate statement obtained by MarketWatch, the company also emphasized supply chain flexibility as a reason to shrink the portfolio. The company said it is working with the distributors that will be affected.
The company's major brands include Coors Light, Miller Lite, Blue Moon Belgian White, Leinenkugel’s Summer Shandy and more. Among the brands on a growth trajectory for Molson Coors are Vizzy hard seltzer, Topo Chico Hard Seltzer, which it distributes in partnership with Coca-Cola Co., and Zoa, an energy drink created with Dwayne “The Rock” Johnson.
Molson Coors said it doubled its U.S. share of the hard seltzer market during the quarter, amid new Vizzy products showing results, strong Topo Chico Hard Seltzer demand and solid performance in Canada, according to the report.