Our two largest brands, Coors Light and Miller Lite, our iconic core grew 6.1% and 8.6% in the US off-premise respectively.
Beyond beer, our first foray into non-alcoholic cannabis beverages through the Truss joint venture has netted the number 1 dollar share spot in the entire Canadian cannabis beverage market.
We increased our production capacity for our fast growing seltzers by approximately 400%.
That is the story of Molson Coors in 2020.
To put it more bluntly, Europe alone accounts for 92% of our fourth quarter top line plants.
In the US, our largest beers, Coors Light and Miller Lite delivered 6.1% and 8.6% expected growth in the off-premise.
Vizzy is going to top 10 growth plan for nearly six straight months.
In above premium beers, we have high expectations for Blue Moon LightSky, which ended 2020 as the number 1 new beer in the United States per Nielsen.
We've expanded its production capacity by approximately 400%.
Our regional craft portfolio in the United States grew 17% as per Nielsen in 2020.
And by December, they jumped to the number 1 dollar share position with four of the top five cannabis beverage SKUs in Canada.
It will be a driving force behind our goal to build our emerging growth division into a $1 billion revenue business by 2023.
With 230% growth in e-commerce in the US alone.
We expanded our Seltzer production capacity by approximately 400%.
And we also expanded our Light Sky production capacity by approximately 400%.
We completed a sleek can production line capable of manufacturing approximately 750 million sleek cans annually.
We also increased our support for organizations dedicated to quality, common, racial justice, community building and provided nearly 3 million meals to families in our hometown communities struggling with food and security.
So today I'm proud to announce that not only will we recommit to matching last year's investments in our communities, we have also committed to spend a total of $1 billion with diverse suppliers over the next three years.
In fact, Europe which accounted for only 16% of our revenue in 2020 contributed to 61% of revenue decline, and 83% of our EBITDA decline for the year, and 92% of the revenue decline and 56% of our EBITDA decline for the fourth quarter.
Recapping the year, consolidated net sales revenue decreased 8.7% in constant currency of which North America was down 4.3% while Europe was down 28.4% on a constant currency basis.
Brand volumes declined 7.8% and financial volumes declined 8.9%.
Net sales per hectoliter on a brand volume basis grew 1.1% in constant currency due to pricing growth in North America and Europe as well as positive brand and package mix in the US.
The success of our both premium innovations including Vizzy, Blue Moon LightSky and Coors Seltzer, help drive US net sales per hectoliter up 2.3% for the year.
Underlying COGS per hectoliter increased 2.8% on a constant currency basis driven by cost inflation including higher transportation costs, volume deleverage and mix impacts from premiumization in North America, partially offset by cost savings.
Underlying MG&A decreased 9.9% on a constant currency basis as we quickly took action, pivoting spend away from the areas impacted by the coronavirus pandemic, particularly live in the payments events and sporting events due to shortened or delayed seasons such as the delayed start of the NH-alc season into 2021.
In aggregate, we delivered approximately $270 million across MG&A and cost of goods sold, chasing us on track to meet our $600 million target in total gross savings.
As a result, underlying EBITDA decreased 10% on a constant currency basis.
Underlying free cash flow was $1.3 billion for the year, a decrease of $104 million from the prior year driven by lower underlying EBITDA and higher cash taxes partially offset by favorable working capital.
The working capital benefit was driven by the deferral of approximately $150 million in tax payments on various government bonds with payment deferral programs related to the coronavirus pandemic of which, we currently anticipate the majority to be paid in 2021 as they become due.
Capital expenditures incurred were $530 million for the year.
We reduced our net debt position by $1.1 billion in 2020 and reduce our trailing 12 month net debt to underlying EBITDA ratio to 3.5 times as we remain committed to maintaining our investment grade rating.
Consolidated net sales revenue declined 8.3% in constant currency principally due to financial volume declines as a result of the on-premise restrictions along with corresponding negative channel mix, partially offset by net pricing growth in North America and Europe as well as positive brand and package mix in the US.
North America net sales revenue was down 1% in constant currency.
However, in the US, despite increased on-premise restrictions and aluminum can supply constraints, we delivered net sales revenue growth of 1.9% in the quarter.
And we continue to build this distributor inventory in the US with brand volumes down 6.2% compared to domestic shipment declines of 2.3%.
In Europe, net sales revenue was down 59.4% in constant currency driven by volume declines and negative mix due to increased on premise restriction with the most meaningful in the UK, which experienced a return to almost total on-premise locked down for November and the historically strong month of December and with the subdued nature of many festive celebrations during the fourth quarter, we did not see a big shift of volume into the off-premise.
Net sales per hectoliter on a brand volume basis increased 3.7% in constant currency reflecting net pricing growth in North America and Europe more than offsetting the negative mix effect of the various market dynamics and consumer shift caused by the coronavirus pandemic.
In the US net sales per hectoliter on a brand volume basis increased 4.2% driven by favorable sales mix from new innovations and strong net parking growth.
While in Europe, net sales per hectoliter on a brand volume basis decreased 8.2% due to unfavorable mix, particularly driven by the higher margin UK business which more than offset pricing increases.
Underlying COGS per hectoliter increased 6.4% on a constant currency basis, as we saw a greater impact on price inflation and US mix premiumization in Q4 compared to the full year.
MG&A in the quarter increased 5.8% on a constant currency basis due to higher planned marketing spend to support our core brands and key innovation as well as backing lower incentive compensation and a non-recurring vendor benefit in the fourth quarter of 2019.
As a result, underlying EBITDA decreased 33.6% on a constant currency basis disproportionately driven by Europe.
Given the length and severity of the impact of the coronavirus pandemic on our Europe business as well as the projected recovery currently expected in certain on-premise markets, we recognized a goodwill impairment charge of $1.5 billion in our Europe segment.
We also recognized $39.6 million of asset impairment charges in our North American segment.
As you may recall, on March the 27 of last year, we withdrew our guidance due to the uncertainty driven by the coronavirus pandemic.
For 2021, we expect to deliver mid-single-digit net sales revenue growth.
We anticipate underlying depreciation and amortization of $800 million, net interest expense of $270 million plus or minus passed the same.
And an effective tax rate in the range of 20% to 23%.
As I mentioned we significantly reduced our net debt position by $1.1 billion in 2020 and reduce our leverage ratio to 3.5 times as of December 31, 2020.
We are proud of this progress and are establishing a target net debt to underlying EBITDA ratio of approximately 3.25 times by the end of 2021 and below 3 times by the end of 2022.
And we currently anticipate that our Board of Directors will be in a position to reinstate a dividend in the second half of this year.

Summary:
That is the story of Molson Coors in 2020.
Consolidated net sales revenue declined 8.3% in constant currency principally due to financial volume declines as a result of the on-premise restrictions along with corresponding negative channel mix, partially offset by net pricing growth in North America and Europe as well as positive brand and package mix in the US.
However, in the US, despite increased on-premise restrictions and aluminum can supply constraints, we delivered net sales revenue growth of 1.9% in the quarter.
For 2021, we expect to deliver mid-single-digit net sales revenue growth.
And we currently anticipate that our Board of Directors will be in a position to reinstate a dividend in the second half of this year.