December 27, 2001 -- Number three U.S. brewer Coors over the weekend announced the purchase of the Carling line of British beers from Belgium's Interbrew for £1.2 billion (US$1.7 billion). The sale is expected to be approved in February.

In winning Carling, which Interbrew had been directed by British trade authorities to sell in order to finalize their purchase of Bass Breweries, Coors beat out several more prominent contenders, including the Dutch brewer, Heineken. The purchase price is being described as a "full price" by industry analysts.

In an article published in the December 24 edition of the New York Times, Peter H. Coors, vice chairman and chief executive of the Coors Brewing unit in Golden, Colorado, is quoted as saying: "This is the first time we've done anything of this magnitude. We've pretty much had all our eggs in one basket. But this deal broadens and diversifies our portfolio."

In acquiring the Carling line, Coors becomes an overnight player in the British beer market, going from almost no share to an 18 percent stake. Carling is the U.K.'s best-selling beer, and among the other assets included with the brand are Caffrey's Irish Ale and 49 percent of a joint venture with Heineken competitor Royal Grolsch to sell Grolsch beer in Britain. Coors now becomes the second-largest brewer in Great Britain, behind only Scottish & Newcastle.

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