Molson Coors Announces Closure of Cork’s Iconic Franciscan Well Brewery
Molson Coors, the Canadian beer giant, has announced it will close the Franciscan Well Brewery located in Cork. This decision reflects ongoing challenges in the craft beer sector, which has been struggling to maintain profitability.
Details of the Closure
The closure will take effect early in the New Year, ending the production of the Franciscan Well beer brands. The brewery, which Molson Coors acquired in 2013, was once aimed at expanding into international markets. However, the company’s initial growth plans for the brand have not materialized.
Challenges Faced by the Brewery
According to Molson Coors, several factors contributed to this decision. They cited difficulties within the craft beer segment, compounded by broader economic pressures affecting both consumers and the business. The company emphasized that despite remarkable efforts from their team, they could not achieve the necessary growth levels to justify the brewery’s continued operation.
Impact on Employees and Community
This decision affects 15 employees at the Cork brewery. Molson Coors has committed to providing support during this transition. The company has initiated a consultation process with impacted staff and is exploring potential redeployment opportunities.
Molson Coors acknowledged the significant role that the Franciscan Well brand plays in the local community. They remain open to discussions about the future of the brewery and its associated brands.
Broader Industry Context
The craft beer sector is under considerable strain, as demonstrated by recent closures in the industry. For example, Killarney Brewing and Distilling Company closed two plants in Co Kerry after failing to implement a successful rescue plan during examinership.
The challenges faced by Molson Coors at the Franciscan Well Brewery mirror broader trends in the craft brewing landscape. The closure follows Molson Coors’ recent agreement with Heineken Ireland, which took on distribution rights for Molson Coors’ brands, including Coors Light.
Conclusion
The closure of Cork’s Franciscan Well Brewery marks a significant shift in the local brewing scene. As the craft beer market continues to evolve, many small breweries may face similar challenges in maintaining their presence.
