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TIME: Almanac 1990
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1990 Time Magazine Compact Almanac, The (1991)(Time).iso
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100989
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10098900.004
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1990-09-18
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BUSINESS, Page 80Business NotesBEVERAGESUnhappy Hour For a Brewer
When Adolph Coors and Bernhard Stroh started their breweries
more than a century ago, the beer industry was wide open and
hundreds of small companies were able to compete. Today the top
five brewers control 90% of the market and the industry is no
longer so forgiving. Last week struggling Stroh agreed to sell most
of its brewery operations to Coors for $425 million.
For Stroh and Coors, the third and fourth largest U.S. brewers,
the combination is a matter of necessity. Neither has the financial
clout or national brands needed to compete against behemoths
Anheuser-Busch (market share: 42%) and Miller (21%). By acquiring
the Detroit brewer, Coors will have a 19% share and gain
established Stroh brands, including Schlitz and Old Milwaukee.