Brewers Molson Coors Brewing andSABMiller said Tuesday they will combine the U.S. and Puerto Rico operations of Miller and Coors in a joint venture.
The financial terms of the deal were not disclosed.
The new company will be called MillerCoors, the companies said. The London-based SABMiller, which brews Miller Lite as well as a slew of European beers, and Molson Coors, the brewer of Coors Light and the craft beer Blue Moon, will each have a 50% voting interest in the venture and have five representatives on its board of directors.