Coca-Cola to enter US alcoholic drinks market with Molson Coors tie-up
Coca-Cola gets into hard seltzer business
Coca-Cola is launching a hard seltzer brand. FOX Business’ Lauren Simonetti with more.
There will be more than just fizz when Coca-Cola Co launches the alcoholic version of its Topo Chico sparkling water along with beer giant Molson Coors Beverage Co in the United States. It will be the beverage giant's first alcoholic drink in the country.
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The launch, planned for next year, will help Coca-Cola push further into alcoholic drinks and expand its market beyond Latin America and Japan, where it sells Lemon-Do drink.
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Coca-Cola bought the Topo Chico brand in 2017 from its second-largest bottling partner in Latin America, Arca Continental.
For Molson Coors, the launch is expected to strengthen its portfolio of low-alcohol spirits, including hard seltzers, which have seen surging demand.
Molson Coors said on Tuesday that it would roll out Topo Chico in the first half of 2021, its third hard seltzer to hit the shelves. The low calorie drink will compete with the popular White Claw beverage as well as other hard seltzers from companies, including Anheuser Busch Inbev NV.
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Molson Coors said last month that it tied up with D.G. Yuengling & Son Inc to brew and sell Yuengling beers in the West Coast in efforts to boost its business.
Molson Coors shares were up about 4% in early trading.
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