Yuengling Inks Deal To Expand West
D.G. Yuengling & Son, or more commonly known as simply Yuengling, is the oldest operating brewing company in America, dating its establishment all the way back to 1829.
By 2018, Yuengling had grown to become the largest craft brewery and sixth-largest overall brewery in the U.S. by sales volume. Despite Yuengling's size, its beers are mostly distributed only in the eastern portion of the U.S.
Thankfully for Yuengling fans, that's about to change.
Yuengling has struck a long-term brewing partnership with Molson Coors Beverage that will see distribution of Yuengling's beers expand further west for the first time in history. The partnership will oversee any new market expansion beyond Yuengling's current 22-state lineup.
The partnership is expected to begin in the second half of 2021 and will be overseen by a board of directors comprised evenly of Yuengling and Molson Coors family members and executives. D.G. Yuengling & Son will continue to operate as an independent, family-owned company just as it always has and will operate independently from the joint venture.
"We are excited to launch this brewing partnership with the team at Molson Coors. Like Yuengling, Molson Coors has an established commitment to quality and rich history of family brewing excellence," Yuengling Chief Administrative Officer Wendy Yuengling said. "This partnership is a great opportunity for us to grow our distribution footprint for the long-term, while continuing to support our existing markets and the communities in which we operate."
Shares of Molson Coors jumped on the news, but remain just above their lowest level since 2012 as the beer industry as a whole has struggled with declining consumption in recent years. Molson Coors CEO Gavin Hattersley emphasized the potential of teaming up with Yuengling to expand the distribution of its beers.
"Their iconic beers are beloved by those who live in a state fortunate enough to have their brands and sought after by those who are visiting," Hattersley said. "But there are 25 states open for expansion under this partnership, with tens of millions of drinkers, all with zero Yuengling distribution today. This is a huge growth opportunity for Yuengling. It's a huge growth opportunity for Molson Coors."
While Yuengling will remain family owned, maybe the family will want to capitalize on the SPAC craze and list shares publicly like family-owned Utz recently did.
In the meantime, for those Yuengling fans living in the western portion of the U.S., Molson can't begin distributing Yuengling's beers soon enough.
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