MILWAUKEE (AP) — MillerCoors has created a separate, independent company to handle its portfolio of craft beers and imports — two segments growing in the otherwise stagnant beer industry.
The joint venture between SABMiller's U.S. unit and Molson Coors Brewing Co. said Thursday that Tenth and Blake Beer Company has opened for business.
CEO and President Tom Cardella said the company hopes to expand its craft beer and imports businesses. The company's brands include Blue Moon, Leinenkugel's and Peroni Nastro Azzurro. Cardella has been MillerCoors' eastern division president.
Sales of domestic brews have been soft, while sales of import and craft beers have been rising across the industry. But they represent a fraction of the overall beer market.
MillerCoors formed in 2008, combining parts of the names of the two partners. The company took a similar approach in naming its newest company.
Leinenkugel's is brewed in Milwaukee at The 10th Street Brewery, while Blake Street is home to Blue Moon in Denver.
The company said those breweries will be the main sources of Tenth and Blake Beer Company's brews.
The company will be connected to MillerCoors but operate independently. It will run its own marketing and have a separate sales organization, although other aspects including legal, communications and human resources will overlap with MillerCoors, which is based in Chicago.