Friday, February 15, 2008

Coors, Miller consider joint HQ in Dallas

Dallas-Fort Worth is on a list of cities on tap for the corporate headquarters of a merged venture between Molson Coors Brewing Co. and SABMiller plc, Metroplex real estate sources say.
SABMiller and Molson Coors plan to combine their U.S. operations by mid-year into a new company called MillerCoors. SABMiller is based in London with its U.S. headquarters in Milwaukee. Molson Coors is based in Denver.
The beer companies are looking for about 100,000 square feet of office space and have done some initial scouting in the Dallas-Fort Worth area, according to real estate sources.
Downtown Dallas, Plano and Frisco are all trying to woo the headquarters, but so far the company seems most interested in the Las Colinas area, one real estate source said.
"They're out there kicking around the market," one source said. "It's still real early in the process, but they're definitely considering the area."
Another source said landlord representatives have been told that MillerCoors is leaning toward locating the joint venture outside of Milwaukee or Denver so the merged corporate offices can get a fresh start and Miller and Coors can remain on equal footing.
SABMiller and Molson Coors signed a joint venture agreement in December, and the deal is expected to close in mid-2008. The joint venture is awaiting regulatory approval.
Molson Coors vice chairman Pete Coors on Feb. 12 said options for the new venture include Atlanta, Boston, Chicago, Dallas, Kansas City and others, according to published reports.