Item 1.01 Entry into a Material Definitive Agreement.

On January 6, 2020, MillerCoors LLC and MillerCoors USA LLC (collectively, "MillerCoors"), each subsidiaries of Molson Coors Beverage Company (the "Company"), entered into an option agreement (the "Agreement") with Pabst Brewing Company, LLC ("Pabst"), pursuant to which MillerCoors will grant Pabst an option to purchase the Company's Irwindale, California brewery, including plant equipment and machinery and the underlying land (collectively, the "Irwindale Brewery"), when MillerCoors elects to close the Irwindale Brewery, which it announced today. Pursuant to the Agreement, Pabst will have 120 days from receipt of a notice of the Irwindale Brewery closure from MillerCoors to exercise the option to purchase the Irwindale Brewery. If Pabst exercises its option to purchase the Irwindale Brewery, the Agreement provides (i) the purchase price will be $150 million, subject to adjustment as further specified in the Agreement, (ii) the closing will be within six months from Pabst's exercise of the option, but no earlier than September 1, 2020 and no later than December 31, 2020, subject to the satisfaction of certain customary closing conditions, (iii) for the treatment and allocation of certain liabilities related to the operation of the Irwindale Brewery prior to closing, and (iv) for customary representations and warranties and certain post-closing restrictions on Pabst regarding the operations and disposal of the Irwindale Brewery. In conjuction with the Agreement, MillerCoors and Pabst also executed mutual releases of claims related to their ongoing litigation and dismissed the litigation with prejudice. On January 6, 2020, the Company issued a press release announcing the Agreement and its decision to close the Irwindale Brewery. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K. Item 9.01 Financial Statements and Exhibits.




(d) Exhibits.
Exhibit
  No.       Description
  99.1        Press Release of Molson Coors Beverage Company, dated January 6,
            2020.
  104       Cover Page Interactive Data File (embedded within the Inline XBRL
            document).




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                                   Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

MOLSON COORS BEVERAGE COMPANY

Date: January 6, 2020 By: /s/ E. Lee Reichert

E. Lee Reichert
                          Chief Legal & Government Affairs Officer and Secretary

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