Molson Coors Beverage Company (NYSE: TAP; TSX: TPX) today
unveiled a new slate of non-alcoholic products that it intends to
roll this fall as part of the company’s efforts to expand beyond
the beer aisle and reach more consumers seeking better-for-you
beverages.
Last October, the country’s second-largest brewer, then known as
Molson Coors Brewing Company, redefined themselves as Molson Coors
Beverage Company. In doing so, the company laid out a clear vision
of leveraging the competitive strengths of their foundation in beer
to grow in new spaces beyond the beer aisle. Today marks the most
significant steps down that path to date with the launch of these
non-alcohol brands.
“We’re following through on our promise to seek out new
opportunities beyond beer, and we’ll continue to innovate and move
into new spaces as it’s an important part of our long-term
strategy,” said Pete Marino, president of emerging growth for
Molson Coors Beverage Company. “This is just the start of our
entrance to the marketplace with breakthrough brands, and we
couldn’t have a better partner to embark on this journey with than
LA Libations.”
The first of the new brands to hit shelves will be HUZZAH™,
which launches this September in Southern California. A pumped-up,
full-flavored seltzer with added probiotics to help support a
healthy gut, the shelf-stable beverage contains 3g or less of sugar
per 12oz can and 15 calories or less, giving HUZZAH™ a compelling
point-of-difference in the popular seltzer category. HUZZAH™ will
launch online at DrinkHuzzah.com and at select retailers in SoCal
in three flavors: Strawberry & Hibiscus, Juicy Pear and
Raspberry & Lemon.
HUZZAH™ marks the first non-alcoholic innovation from the
emerging growth division at Molson Coors since the company took a
long-term minority stake in L.A. Libations in November of 2019.
“These four brand launches are fueled by our dedication to
health, wellness and social responsibility,” says Danny Stepper,
CEO and co-founder of L.A. Libations. “With a keen eye on where the
consumer is headed, in partnership with our key retail partners, we
could not be more excited to launch these new innovative brands
alongside our partner Molson Coors. These brands will give
consumers an opportunity to taste tomorrow, today.”
Upcoming projects will continue to expand the Molson Coors
non-alcoholic portfolio through trailblazing product development.
Future innovations in the pipeline include:
- MadVine, a 100% plant-based, diet soda with zero
calories, zero sugar and zero artificial ingredients. Infused with
monk fruit and recognizable ingredients, including bourbon vanilla,
yuzu lemon and black cherry, MadVine will launch in three
flavors: Clean Cola, Yuzu Lemon-Up, and Dr. Stepper.
- Golden Wing, a cutting-edge, grain-based milk
alternative packed with proteins and nutrients, made with
top-quality barley and no additives, stabilizers or frothing
agents.
- A yet-to-be announced, nootropic performance beverage that
provides enhanced focus, nutrition, and improved performance
without the jitters associated with high-caffeinated drinks, geared
towards gamers and developers.
“Each of these beverages micro-targets a group and
problem-solves a very specific challenge that maybe hasn’t been
looked at before,” said Adam Louras, vice president of operations
and product development at L.A. Libations. “That’s why I’m excited
about these products—they are designed with real people in mind,
and I’m pumped to get them in my own fridge.”
While Molson Coors foundation is rooted in nearly 250 years of
brewing great beers, the global beverage maker has signaled that it
will seek out the significant growth opportunities beyond the beer
aisle as well – whether it’s with CBD and cannabis products,
non-alcohol beverages, wines or spirits. In addition to the
products created in partnership with L.A. Libations, Molson Coors
has also developed non-alcoholic, cannabis-infused beverages for
Canadian and Colorado markets through its joint ventures with the
HEXO Corp.
To learn more about Molson Coors’ upcoming non-alcoholic
innovations, please visit molsoncoorsblog.com.
ABOUT MOLSON COORS
For over two centuries Molson Coors has been brewing beverages
that unite people for all of life’s moments. From Coors Light,
Miller Lite, Molson Canadian, Carling, and Staropramen to Coors
Banquet, Blue Moon Belgian White, Blue Moon LightSky, Vizzy,
Leinenkugel’s Summer Shandy, Creemore Springs and more, Molson
Coors produces some of the most beloved and iconic beer brands ever
made. While the company’s history is rooted in beer, Molson Coors
offers a modern portfolio that expands beyond the beer aisle as
well.
The company’s commitment to raising industry standards and
leaving a positive imprint on our employees, consumers, communities
and the environment is reflected in Our Imprint and our 2025
sustainability targets. To learn more about Molson Coors Beverage
Company, visit molsoncoors.com, MolsonCoorsOurImprint.com or on
Twitter through @MolsonCoors.
ABOUT L.A. LIBATIONS
Founded by three best friends and beverage executives in 2009,
L.A. Libations is a next generation beverage creator, incubator and
accelerator. L.A. Libations has forged industry successes enjoying
investment events and prized brand exits with some of the biggest
beverage companies and retailers in the world such as The Coca-Cola
Company, Kuerig Dr Pepper, Amazon and 7-11. As the Emerging
Beverage Category Captain and a trusted advisor to many of the
country's largest retailers, L.A. Libations drives innovation in
"better for you” beverage categories. L.A. Libations has provided
services for established brands, such as Zico Coconut Water, Core
Water and Body Armor; partnered with emerging brands like Space
Shake, Limitless and Lucky Jack; and created brands such as Don’t
Quit, Gloe Brands, and Arriba Chelada. In 2019 Molson Coors
Beverage Company took a minority stake in L.A. Libations. To learn
more about L.A. Libations, visit www.lalibations.com or on
Instagram through @lalibations.
Forward Looking Statements
This press release includes “forward-looking statements” within
the meaning of the U.S. federal securities laws. Generally, the
words “believe,” "aims," “expect,” “intend,” “anticipate,”
“project,” “will,” “outlook,” "desire," and similar expressions
identify forward-looking statements, which generally are not
historic in nature. Statements that refer to projections of our
future financial performance, our anticipated results, cost savings
and trends in our businesses, and other characterizations of future
events or circumstances are forward-looking statements, and
include, but are not limited to, expectations regarding the
consumer preferences, our beyond beer ambitions, industry forces,
and anticipated results. Although Molson Coors believes that the
assumptions upon which its forward-looking statements are based are
reasonable, it can give no assurance that these assumptions will
prove to be correct. Important factors that could cause actual
results to differ materially from Molson Coors’ historical
experience, and present projections and expectations are disclosed
in Molson Coors’ filings with the Securities and Exchange
Commission (“SEC”). These factors include, among others, the impact
of the coronavirus pandemic, the impact of increased competition
resulting from further consolidation of brewers, competitive
pricing and product pressures; health of the beer industry and our
brands in our markets; economic conditions in our markets;
availability or increase in the cost of packaging materials;
success of our joint ventures; risks relating to operations in
developing and emerging markets; changes in legal and regulatory
requirements; our ability to implement our strategic initiatives;
our ability to maintain brand image, reputation and product
quality; and other risks discussed in our filings with the SEC,
including our most recent Annual Report on Form 10-K and our
Quarterly Reports on Form 10-Q. All forward-looking statements in
this press release are expressly qualified by such cautionary
statements and by reference to the underlying assumptions. You
should not place undue reliance on forward-looking statements,
which speak only as of the date they are made. We do not undertake
to update forward-looking statements, whether as a result of new
information, future events or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200909005699/en/
Marty Maloney Molson Coors (773) 972-7780
Martin.Maloney@molsoncoors.com
Molson Coors Beverage (NYSE:TAP.A)
Historical Stock Chart
From Mar 2024 to Apr 2024
Molson Coors Beverage (NYSE:TAP.A)
Historical Stock Chart
From Apr 2023 to Apr 2024