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In an effort to fight back against shifting consumer trends to spirits and wine, the Wall Street Journal reported that Coors Brewing Co. (NYSE: TAP) has created a new subsidiary to "introduce above-premium beers to the marketplace," according to an email sent to beer wholesalers last week.
The move comes at a time when the American beer business is facing considerable headwinds, including slower growth due to upscale "craft" beers and a strong push for market share by imports. Anheuser-Busch Cos. (NYSE: BUD), the largest American beer maker, and SABMiller PLC's (NYSE: SAB) Miller Brewing Co., the second-largest, have already introduced new beverages to combat these headwinds.
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