Summary: Craft Brew News 11/01/19<br><br>(Courtesy of Brewbound - <a href="http://www.Brewbound.com" rel="noopener">www.Brewbound.com</a>)<br><br>Molson Coors CEO Discusses Restructuring Plans, New Hard Seltzer Launch During Q3 Earnings Call<br><br>Molson Coors’ future direction became more clear today following the announcement that the company will restructure its operations and slash its workforce.<br><br>The $150 million annual savings will be reinvested in marketing to support core brands such as Coors Light and Miller Lite, drive innovation in non-beer products such as Cape Line Sparkling Cocktails and Arnold Palmer Spiked, and above-premium offerings such as Blue Moon and Peroni.<br><br>The prioritizing of beyond beer products is reflected in the company’s new name, effective in 2020: Molson Coors Beverage Company. This move makes Molson Coors the first among the world’s largest beer companies to remove “beer” or “brewing” from its name.<br><br>Among these beyond beer innovations is Vizzy, a 5% ABV, 100-calorie hard seltzer “infused with super fruits,” according to a slide during the earnings presentation. <br><br>During Q3, Molson Coors’ company-wide revenue declined 3.2%, to $2.8 billion, while worldwide brand volumes declined 2.4%.<br><br>For 2020, which Molson Coors is labeling a “transition year,” the company is estimating net sales revenue to be flat to down low-single digits.<br><br>Truly Hard Seltzer Boosts Boston Beer Company to Double-Digit Growth<br><br>Boston Beer Company reported strong earnings during its third-quarter earnings call Tuesday evening.<br><br>Boston Beer founder Jim Koch said, “I am tremendously proud of the efforts of all of our coworkers in achieving our sixth consecutive quarter of double-digit growth,” <br><br>Hard seltzer continued to drive the lion’s share of Boston Beer’s growth. Truly Hard Seltzer generated triple-digit volume growth during a quarter in which the company launched Truly Draft, announced a new Watermelon Kiwi flavor, reformulated all Truly flavors, revealed plans to launch Truly Hard Seltzer Lemonade in early 2020, struck a sponsorship deal with the National Hockey League, and released a new Truly television campaign featuring actor Keegan-Michael Key.<br><br>To accomodate Truly’s growth, Boston Beer will add a canning line to its production brewery in Breinigsville, Pennsylvania, and the company has “significantly increased our available sleek can capacity at third-party breweries”.<br><br>Courtesy of AP<br><br>Last call: Utah is set to tap out on low-alcohol beer sales<br><br>SALT LAKE CITY (AP) — The first change to beer alcohol limits since the end of Prohibition nearly a century ago is coming to Utah.<br><br>The state will become the next-to-last in the country to say goodbye to lower-alcohol 3.2% beer on Friday, when drinkers welcome new, slightly stronger brews to grocery stores, gas stations and bars.<br><br>Lawmakers have raised the limits to a still-low 4% by weight, yielding as large breweries decided to stop making lower-alcohol suds for a market that’s shrinking amid changing laws. The change leaves Minnesota as the last state to have 3.2% beer.<br><br>Almost the entire country once had similar limits, said Maureen Ogle, author of “Ambitious Brew: A History of American Beer.” It was set by Congress to allow lighter brews to be made before the formal end of Prohibition in 1933.<br><br>In the last remaining holdout, Minnesota Republican Sen. Karin Housley said she would “aggressively pursue legislation to modernize our state’s antiquated liquor laws” during the next legislative session.<br><br>In Utah, the state’s predominant religious faith, The Church of Jesus Christ of Latter-day Saints, teaches abstinence from alcohol and strict liquor laws continue to hold sway. Last year, lawmakers passed the lowest DUI threshold in the country at .05%.<br><br>This year, though, big...
