News Briefs for November 16, 2015November 16, 2015
•Marriott International has agreed to buy Starwood Hotels and Resorts Worldwide for $12 billion in cash and stock, Marriott announced today. The Starwood holdings include the Westin, the W, Sheraton and St. Regis brands, among others. Marriott will pay $72.08 a share in cash and stock for Starwood. The combined group will have more than 5,500 owned or franchised hotels globally and become the largest hotelier in the world.
•MillerCoors has parted ways with its head of brand marketing, Gannon Jones, according to AdWeek, just days after the company was fully acquired by Molson Coors. Jones joined MillerCoors in late 2013 as vice president of brand marketing, as the Chicago-based beer marketer’s leading brands—including Coors Light and Miller Lite, among others—were losing U.S. market share amid the craft beer boom. He was previously chief marketing officer for PepsiCo’s Global Nutrition Group. Last week, Molson Coors secured full ownership of MillerCoors when it agreed to acquire SABMiller’s 58% stake in the jv for $12 billion. That move essentially cleared the way for Anheuser-Busch InBev to make its $107 billion formal offer for SABMiller.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
Tagged : Anheuser-Busch InBev, Coors Light, Global Nutrition Group, Marriott International, Miller Lite, MillerCoors, Molson Coors, PepsiCo, SABMiller, Sheraton, St. Regis, Starwood Hotels and Resorts Worldwide, W, Westin