Latest News

: Coca-Cola and Molson Coors team up for ‘spiked’ juices

0

Molson Coors Beverage Co. announced another partnership with Coca-Cola Co. on Tuesday: the beverage giants are launching a version of the Simply brand of juices with alcohol.

Simply Spiked Lemonade will come in a variety pack this summer that will also include other flavors like strawberry lemonade and watermelon lemonade. Each flavor will be made with fruit juice and contain 5% alcohol by volume and 170 calories. Some flavors will be available as a standalone purchase.

Molson Coors TAP, +0.40% and Coca-Cola KO, -0.47% have previously teamed up for Topo Chico Hard Seltzer, with a margarita version coming in 2022 and expansion in Canada on the way.

Read: Coca-Cola upgraded as anticipation grows that multibillion-dollar IRS tax case will come to a close

Coca-Cola has also partnered with Corona beer parent Constellation Brands Inc. STZ, -1.05% on an alcoholic version of the Fresca soft drink.

Coca-Cola is diving deeply into the “adult alternative beverage” category, which includes ready-to-drink cocktails. The category’s market has reached nearly $8 billion and is expected to have a compound annual growth rate of 15% to 17% over the next three years, according to data provided by Constellation Brands.

Simply is a billion-dollar brand and Coca-Cola’s second biggest after the namesake soda brand. Molson Coors provided data showing that flavored alcohol beverages are a nearly $2 billion category that experienced 10% growth in 2021.

Coca-Cola stock has gained 22.8% over the past year. Molson Coors shares have fallen 2.9%. And the benchmark Dow Jones Industrial Average DJIA, -0.17% has gained 11.1%.

The Wall Street Journal: Here’s how American sanctions and export controls against Russia might look

Previous article

MemeMoney: Miami ‘Hedge Fund Week” offers a financial vibe check on 2022 and beyond

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News