North Carolina-based brewery founded by tech
entrepreneur and rival gang leaders to team up with the beverage
company to debut its mission-based brand in summer 2021
TRU Colors Brewery, the social impact company unifying rival
gangs, today announced a strategic partnership with Molson Coors
Beverage Company (NYSE: TAP; TSX: TPX) that will help accelerate
the brand’s growth and distribution of its first product by summer
2021.
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the full release here:
https://www.businesswire.com/news/home/20210414005721/en/
Founded by George Taylor and rival gang leaders of the Bloods,
Crips, and GD, TRU Colors is a for-profit brewery with a tightly
integrated social mission to stop street violence and unite
communities across America. TRU stands for Truth, Responsibility,
and Unity.
The idea for TRU Colors was sparked five years ago when a
16-year-old was killed in a drive-by shooting. Since then, the
company has invested in developing a sustainable business model and
scalable social mission platform. The company’s strategy is unique,
hiring active gang members and leveraging their skill and influence
to end street violence and its drivers -- economic inequality,
generational poverty, and racial divisiveness.
“At TRU Colors, we believe most street violence is driven by a
lack of economic opportunity and societal exclusion, and therefore
an inclusive economic solution is needed to stop it,” said George
Taylor, CEO of TRU Colors. “Brewed by once-bitter rivals, our beer
will be a symbol of the understanding and unity that’s possible
when people are open to change. Through our partnership with Molson
Coors, and the incredible talent of our team, the opportunities for
our business and social impact are endless.”
Molson Coors is making an equity investment in TRU Colors and
will serve as a strategic partner to assist the company with
distribution strategy, brand positioning, supplier relationships,
marketing and advertising consultation, and product
formulation.
For Molson Coors, this is not only a strategic investment but
also marks the latest in a series of actions designed to foster a
more inclusive and diverse culture. The company announced a goal of
increasing representation of people of color in our US operations
by 25% by the end of 2023 across the country and committed to
donating a cumulative $3 million to 26 local and national
organizations dedicated to equality, empowerment, justice and
community building from 2020-2021.
“Last summer we said we were committed to meaningful long-term
change inside and outside our business, and would make better
efforts to leave a positive impact in communities throughout the
country,” said Gavin Hattersley, CEO of Molson Coors Brewing
Company. “This partnership represents an opportunity to not only
invest in what we believe will be a successful business, but also
in a brand with a strong social justice presence that will have an
immeasurable positive impact on hundreds of lives.”
The TRU Colors Brewery team is led by both Brian Faivre, a
20-year industry veteran and most recently Deschutes Brewery’s
brewmaster, and Juan “Press” Bethea, an active member of the Bloods
who has spent the past three years studying brewery operations and
production alongside other local breweries.
“TRU Colors has changed my life and the streets in our city,”
said Bethea. “Today, I’m working side-by-side with guys that I used
to see as rivals, who, just like me, have lost friends and family
to the streets. It's hard to forget the past, but we all want a
better future. My family now has a stable home, and my kids can be
whoever they want to be. That is everything.”
TRU Colors will launch its first beer in summer 2021 in North
Carolina and Virginia, with plans to distribute to all 50 states
within its first 24 months of operation. Keeping the core component
of unity in mind, their debut product, TRU Light, will be a lager
that bridges modern craft with iconic American beer.
TRU Colors is currently completing construction of its
56,000-square-foot facility in Wilmington, NC. In addition to the
brewery, which is capable of producing over 1 million cases per
year, the facility will serve as the company’s corporate office.
The innovative facility will also reflect the company’s vision for
the future and feature a wellness center, gym, recording studio,
classrooms for education and coaching, a designated space for the
“street intervention team,” and much more.
Link to Media Hub:
https://sunshinesachs.egnyte.com/fl/RjXlNabX7W
About TRU Colors
Founded in 2019 by a tech entrepreneur and rival gang leaders
from the Bloods, Crips, and GD’s, TRU Colors is a for-profit
brewery based in Wilmington, NC with a tightly integrated social
mission to stop street violence and unite communities across
America. Over 80% of the TRU Colors team are active gang members
whose street skills and influence translate into corporate skills
and more peaceful streets. TRU Colors is committed to economic
equity and provides a livable wage, company-paid healthcare, equity
through stock options, health and wellness center, and more. The
company’s mission is to brew beer, relationships, and shared
stories that challenge perceptions and bring understanding that
leads to unity. To learn more about TRU Colors visit trucolors.co,
or check us out on Instagram, Twitter, and Facebook.
About Molson Coors
For over two centuries Molson Coors has been brewing beverages
that unite people to celebrate all life’s moments. From Coors
Light, Miller Lite, Molson Canadian, Carling, and Staropramen to
Coors Banquet, Blue Moon Belgian White, Blue Moon LightSky, Vizzy,
Leinenkugel’s Summer Shandy, Creemore Springs, Hop Valley and more,
Molson Coors produces many beloved and iconic beer brands. While
the company’s history is rooted in beer, Molson Coors offers a
modern portfolio that expands beyond the beer aisle as well. The
company’s commitment to raising industry standards and leaving a
positive imprint on our employees, consumers, communities, and the
environment is reflected in Our Imprint and our 2025 sustainability
targets. To learn more about Molson Coors Beverage Company, visit
molsoncoors.com, MolsonCoorsOurImprint.com or on Twitter through
@MolsonCoors.
Forward Looking
Statements
This press release includes “forward-looking statements” within
the meaning of the U.S. federal securities laws. Generally, the
words “believe,” "aims," “expect,” “intend,” “anticipate,”
“project,” “will,” “outlook,” "desire," and similar expressions
identify forward-looking statements, which generally are not
historic in nature. Statements that refer to projections of our
future financial performance, our supply chain capacity, future
product demand and our ability to meet this demand, cost savings
and trends in our businesses, and other characterizations of future
events or circumstances are forward-looking statements, and
include, but are not limited to, expectations regarding our supply
chain capacity, consumer preferences, performance of our
innovations, our revitalization plan announced in 2019 and
profitability. Although Molson Coors believes that the assumptions
upon which its forward-looking statements are based are reasonable,
it can give no assurance that these assumptions will prove to be
correct. Important factors that could cause actual results to
differ materially from Molson Coors’ historical experience, and
present projections and expectations are disclosed in Molson Coors’
filings with the Securities and Exchange Commission (“SEC”). These
factors include, among others, the impact of the coronavirus
pandemic, the impact of increased competition resulting from
further consolidation of brewers, competitive pricing and product
pressures; health of the beer industry and our brands in our
markets; economic conditions in our markets; changes in our supply
chain system; availability or increase in the cost of packaging
materials; success of our joint ventures; changes in legal and
regulatory requirements, including the regulation of distribution
systems; increase in the cost of commodities used in the business;
the impact of climate change and the availability and quality of
water; loss or closure of a major brewery or other key facility;
our ability to implement our strategic initiatives; our ability to
maintain good labor relations; our ability to maintain brand image,
reputation and product quality; and other risks discussed in our
filings with the SEC, including our most recent Annual Report on
Form 10-K and our Quarterly Reports on Form 10-Q. All
forward-looking statements in this press release are expressly
qualified by such cautionary statements and by reference to the
underlying assumptions. You should not place undue reliance on
forward-looking statements, which speak only as of the date they
are made. We do not undertake to update forward-looking statements,
whether as a result of new information, future events or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20210414005721/en/
TRU Colors Media Contact: Diana Cantu Corcoran Sunshine
Sachs trucolors@sunshinesachs.com 956-763-6088 Molson Coors
Media Contact: Marty Maloney Molson Coors
Martin.Maloney@molsoncoors.com 773-972-7780
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