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Molson Coors Beverage Company (NYSE: TAP) announced an $85 million investment to eliminate plastic rings from Coors Light packaging globally, becoming the largest North American beer brand to do so. This transition to recyclable cardboard-wrap carriers is set to start later this year, aiming to save 1.7 million pounds of plastic waste annually. The initiative supports Molson Coors' sustainability goals of achieving 100% reusable or recyclable packaging by 2025. Coors Light will highlight its commitment at a pop-up store in NYC from March 2-6.
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Investment of $85 million supports transition to sustainable packaging.
Transition to recyclable cardboard carriers will save 1.7 million pounds of plastic waste annually.
Coors Light will debut new packaging at a NYC pop-up store, enhancing brand engagement.
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Nearly $85 million investment by Molson Coors will enable Coors Light to begin the move out of plastic rings this year, and across all Molson Coors’ North American brands by the end of 2025
CHICAGO--(BUSINESS WIRE)--
Coors Light today announced it will eliminate plastic rings from packaging globally, where Molson Coors owns brewing operations, and is set to become the largest beer brand in North America to move away from plastic rings. To support the move to more sustainable packaging, Molson Coors Beverage Company (NYSE: TAP) will invest $85 million, enabling Coors Light to begin the transition to fully recyclable and sustainably sourced cardboard-wrap carriers later this year.
COORS LIGHT ELIMINATES 6-PACK PLASTIC RINGS GLOBALLY (Graphic: Business Wire)
The Molson Coors investment will upgrade packaging machinery, which will also allow the company’s entire North American portfolio of brands to advance to cardboard wrap carriers by the end of 2025. In total, the move by Molson Coors will save 1.7 million pounds of plastic waste annually. In 2021, Molson Coors removed plastic rings across all major brands sold in the United Kingdom, including Coors and Carling, and transitioned to recyclable cardboard sleeves. Molson Coors in Canada moved to more sustainable plastic rings in 2021 as an initial step, and as part of today’s announcement commits to eliminate plastic rings entirely.
“Our business, and Coors in particular, has a long history of using packaging innovation to protect our environment, and today we are building on that rich legacy,” said Molson Coors CEO Gavin Hattersley. “Just as Coors led the way by pioneering the recyclable aluminum can, Coors Light will lead the way by moving out of single-use plastic rings in North America.”
Coors Light will debut the new packaging at the “Plastic-Free Future Mart by Coors Light,” a super sustainable pop-up concept store in NYC. The Plastic-Free Future Mart will be open* March 2 to 6 and is located at 603 Manhattan Ave., Brooklyn, NY to adults 21+.
The “Plastic Free Future Mart by Coors Light” will model as inspiration and a vision for a world with no single-use plastics.
“We believe that buying beer shouldn’t mean buying plastic,” said Marcelo Pascoa, Vice President of Marketing for the Coors Family of Brands. “That’s why we’re taking a step toward making packaging even more sustainable, and with this achievement Coors Light will save 400,000 pounds of single-use plastic from becoming waste every year.”
In 1959, Coors revolutionized the beverage industry when it debuted the two-piece recyclable aluminum can. Despite the five years and millions invested in the development of the recyclable can, Coors did not patent the new packaging. Instead, Coors actively encouraged other beverage makers to embrace the recyclable can which led to a recycling revolution. Learn more about Coors’ long history of sustainability.
Molson Coors set ambitious sustainability goals in 2017 to shape the company and set new standards for the beer and beverage industry. The three main areas of focus are water, climate and packaging. The Coors Light announcement today pushes Molson Coors closer to its goal of ensuring packaging is 100% reusable, recyclable or compostable, and consumer-facing plastic packaging is made from at least 30% recycled content by the end of 2025.
*The Plastic-Free Future Mart will be open during the hours of 12 and 7 p.m. to adults 21 years or older. Proof of full Covid-19 vaccine required.
About Molson Coors
For more than two centuries, Molson Coors has been brewing beverages that unite people to celebrate all life’s moments. From Coors Light, Miller Lite, Molson Canadian, Carling, and Staropramen to Coors Banquet, Blue Moon Belgian White, Blue Moon LightSky, Vizzy Hard Seltzer, Topo Chico Hard Seltzer, Leinenkugel’s Summer Shandy, Creemore Springs, Hop Valley and more, Molson Coors produces many beloved and iconic beer brands. While the company’s history is rooted in beer, Molson Coors offers a modern portfolio that expands beyond the beer aisle as well. Our Environmental, Social and Governance strategy is focused on People and Planet with a strong commitment to raising industry standards and leaving a positive imprint on our employees, consumers, communities, and the environment. Learn more about Molson Coors Beverage Company, visit molsoncoors.com, MolsonCoorsOurImprint.com or on Twitter through @MolsonCoors.
Forward Looking Statements
This press release includes "forward-looking statements" within the meaning of the U.S. federal securities laws. Generally, the words "believe," "aims," "expect," "intend," "anticipate," "project," "will," "outlook," "desire," and similar expressions identify forward-looking statements, which generally are not historic in nature. Statements that refer to ability and cost to achieve sustainability targets are forward-looking statements. Although Molson Coors believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from Molson Coors' historical experience, and present projections and expectations are disclosed in Molson Coors' filings with the Securities and Exchange Commission ("SEC"). These factors include, among others, brand image, reputation, product quality and protection of intellectual property, changes in the social acceptability, perceptions and the political view of the beverage categories, environmental, social and governance ("ESG") issues, dependence on the global supply chain, loss of key suppliers, and reliance on a small number of suppliers to obtain the packaging materials needed to operate, and other risks discussed in its filings with the SEC, including its most recent Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Molson Coors does not undertake to update forward-looking statements, whether as a result of new information, future events or otherwise.
