On September 19, 1966, the conglomerate W.R. Grace & Co. agreed to buy 53% of Miller from Mrs.
Lorraine John Mulberger (Frederick Miller’s granddaughter who objected to alcohol) and her family. On June 12, 1969 Philip Morris (now Altria) bought Miller from W.R. Grace for $130 million, outbidding PepsiCo. On May 30th, 2002, it was acquired by South African Breweries from Philip Morris for $3.6 billion worth of stock and $2 billion in debt, to form SABMiller; with Philip Morris retaining a 36% share at that time, with voting rights of 24.99%.
On August 14, 2006, Miller Brewing announced it had completed the purchase of Sparks and Steel Reserve brands from McKenzie River Corporation for $215 million cash. Miller had been producing both products prior to this purchase.
On October 9, 2007, SABMiller and Molson Coors agreed to combine their U.S. operations in a joint venture called Miller Coors. SABMiller is to own 58% of the unit, which is to operate in the U.S. and Puerto Rico but not Canada, where Molson Coors is strongest. Molson Coors is to own 42%, but the parties are to have equal voting power.
For the guys that have their own man-cave this Miller beer tin sign is for you.
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