Wells & Young's loses Red Stripe and Corona contracts
Brewers Wells & Young's has lost the contracts to distribute Red Stripe and Corona Extra lagers, it has announced.
In a statement issued this morning the company said that after a 30-year term with Red Stripe and a 15-year term with Corona Extra, the brands would move back to their respective owners in 2011.
Diageo will take back Red Stripe in the summer of next year. Grupo Modelo, which owns Corona Extra, has yet to announce who will be taking on the distribution of their brand.
Paul Wells, chairman of Wells and Young's Brewing Company, says: "Both brands are in great shape and have had outstanding sales in the past few years, as have our ale brands. We always knew both contracts could expire in 2011 and we have planned accordingly.
"I know that everyone in the company is really proud of having grown these brands to the iconic positions they hold today and I think that is a fitting tribute to the teamwork and expertise of our people here at Wells and Young's.
"So from here, Young's, Bombardier and Courage and our other partner brands, Kirin Ichiban, Estrella Damm and Erdinger, will get even more focus."
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By Neil Gerrard
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