What is the only thing worse that playing "American" while not being produced by an American company anymore? Putting on that costume while being produced by two foreign brewing juggernauts.
Such is the case for Coors, which stopped being solely a Rocky Mountain resident in 2005 when it merged with Canadian megabrewer Molson. That lumped the Coors brands in with a stable that includes the Molson products, England's Carling and Dutch-derived Grolsch. Still, it needed a little something extra to compete in the American marketplace.
This is where Coors' branches on the family tree get complicated. SABMiller -- formed in 2002 when South African Breweries bought U.S.-based Miller Brewing -- teamed with MolsonCoors (TAP) to market both companies' beers in the U.S. under the MillerCoors joint venture.While it's nice that Coors Light recently took the No. 2 spot in the American market from Budweiser, saying it's the No. 2 American beer brand is a bit of an oversimplification. At this point, Coors in the U.S. is equal parts American, Canadian, British and South African. You'd have to dig down through the beer ranks to Yuengling or Boston Brewing (SAM - Get Report) -- with a combined U.S. market share of little more than 2% to MillerCoors' 29% -- before you found a truly "American" beer.