Molson Coors is to take over distribution of Corona Extra in the UK from Wells & Young’s, The Grocer understands.

An announcement – the contents of which are yet to be revealed – is expected from Molson Coors’ headquarters in Canada this afternoon.

A senior industry source told The Grocer the Carling brewer’s UK takeover of Corona was the “missing link” following the announcement that Wells’ contracts for both Corona and Red Stripe would be terminated next year.

The 15-year UK contract between Corona owner Grupo Modelo and Wells ends in January. Diageo will take back the Red Stripe contract after its 30-year agreement with Wells expires next summer.

Bradford-based Wells only found out its Corona contract would not be renewed a couple of weeks ago. It was thought the contract would pass to AB InBev, which holds a majority stake in Grupo Modelo.

The Grocer’s source said Corona would now partner Cobra in Molson Coors’ world beer portfolio.

Wells also brewed Cobra for 12 years until a pre-pack administration buyout of the brand by Molson Coors in June 2009.

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