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COORS BREWING CO. ANNOUNCES PURCHASE OF BREWERY IN SPAIN

 GOLDEN, Colo., Nov. 17 /PRNewswire/ -- Coors Brewing Co. announced today that it has signed an agreement in principle with El Aguila S.A., based in Madrid, Spain, for the purchase of a 500,000-barrel brewery in Zaragoza, Spain. The purchase will allow Coors to begin production in Europe, reducing Coors' reliance on exporting for European sales. The sale is expected to be finalized by March 1994.
 "Europe is a very exciting beer market for Coors," said Peter H. Coors, vice-chairman and chief executive officer, Coors Brewing Co. "The purchase of this facility will provide us with a foothold in the European market, in keeping with our international expansion strategy. We're extremely pleased this facility has become available."
 Under terms of the agreement, Coors Extra Gold will be brewed in Zaragoza for distribution in Spain. Sales and distribution will be handled in Spain by El Aguila. Additional production for other European countries will be phased in, allowing Coors to move away from exporting beer to Europe from the United States. Coors beers currently are exported to France, Italy and Greece from its plant in Memphis, Tenn.
 "In addition to freeing up needed capacity in our breweries here in the United States, this facility also will give us an advantageous position for production and distribution of our products in Europe," said Michael Marranzino, vice president of International Marketing, Coors Brewing Co.
 The sale is contingent on successful union negotiations, due diligence and board approvals. No purchase price was disclosed. Fifty-one percent of the common stock of El Aguila S.A. is owned by Amsterdam-based Heineken, N.V., the world's second-largest brewer.
 Coors Brewing Co. is the principal subsidiary of Adolph Coors Co. (NASDAQ-NMS: ACCOB) founded in 1873. Coors is the third-largest brewer in the United States and the eighth-largest worldwide. In the United States, Coors has outpaced the United States brewing industry in volume growth for eight consecutive years.
 -0- 11/17/93
 /CONTACT: Janet Rowe or Colleen Plummer of Coors Brewing Co., 303-277-2555 or 800-525-3786/
 (ACCOB)


CO: Coors Brewing Co. ST: Colorado IN: FOD SU:

MC -- DV004 -- 5488 11/17/93 12:15 EST
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Publication:PR Newswire
Date:Nov 17, 1993
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