Miller Brewing Company was founded in Milwaukee in 1855 by
Frederick Miller after his emigration from
Hohenzollern, Germany, in 1854 with a unique
brewer's yeast. Initially, he purchased the small Plank Road Brewery for $2,300 ($82,280 in 2024). The brewery's location in what is now the Miller Valley provided easy access to raw materials produced on nearby farms. In 1855, Miller changed its name to Miller Brewing Company, Inc. The enterprise remained in the family until 1966. The company was one of six breweries affected by the
1953 Milwaukee brewery strike. In 1961, Miller purchased the smallest of the "Big Five" Milwaukee brewers,
A. Gettelman Brewing Company. In 1966, the
conglomerate W. R. Grace and Company bought Miller from Lorraine John Mulberger (Frederick Miller's granddaughter, who objected to alcohol) and her family. In 1969, Philip Morris (now
Altria) bought Miller from W. R. Grace for $130 million, outbidding
PepsiCo. In 1999, Miller acquired the
Hamm's brand from
Pabst. In 2002,
South African Breweries bought Miller from Philip Morris for $3.6 billion worth of stock and $2 billion in debt to form
SABMiller, with Philip Morris retaining a 36% ownership share and 24.99% voting rights. In 2006, SABMiller purchased the
Sparks and
Steel Reserve brands from
McKenzie River Corporation for $215 million. Miller had been producing both brands prior to the purchase. On July 1, 2008, SABMiller formed
MillerCoors, a joint venture with rival
Molson Coors, to consolidate the production and distribution of its products in the United States, with each parent company's corporate operations and international operations to remain separate and independent of the joint venture. SABMiller owned 58% of the unit, which operated in the United States but not in Canada, where Molson Coors is strongest, but the companies had equal voting power. In September 2015,
Anheuser-Busch InBev announced it had reached a full agreement to acquire SABMiller for $107 billion. As part of the agreement with the
U.S. Justice Department, SABMiller divested itself of the Miller brands in the U.S. by selling its stake in MillerCoors to Molson Coors. Consequently, on October 11, 2016, SABMiller in the U.S. sold its interests in MillerCoors to Molson Coors for around US $12 billion. Molson Coors gained full ownership of the Miller brand portfolio outside the US, and retained the rights within the U.S. (including Puerto Rico). ==Brands==