MillerCoors’s Long Aims To Grow Tenth & Blake By 60% Over Three YearsDecember 19, 2011
MillerCoors CEO Tom Long says he expects the brewing giant’s Tenth & Blake craft and import unit—which includes Blue Moon, Leinenkugel and Peroni—to grow by about 60% over the next three years, and that more brands may be added to Tenth & Blake’s stable. In response to a question on MillerCoors’s recent acquisition of a minority stake in Georgia craft brewer Terrapin, Long told the Wall Street Journal, “We’re in dialogue with lots of companies. But those things have to work just right for them and be comfortable for everyone.”
As MillerCoors continues to focus in on the fast-growing craft segment, Long is also planning a renewed push in 2012 for the struggling Miller Lite brand. That effort will include new advertising in March, a “tweak” in positioning and a new “taste-flow” Miller Lite can—aimed at younger LDA consumers—that includes a second opening to help increase “smooth flow.” Miller Lite’s U.S. sales to retailers were down in the mid-single digits in the third quarter, while stablemate Coors Light’s sales rose by low single digits.
Looking ahead to next year, Long projects that U.S. beer industry volume will be down by 1% to 2%—a trend roughly unchanged from this year—but added that he expects MillerCoors to gain market share.
Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.