Molson Coors Beverage Company (NYSE: TAP, TSX: TPX) has entered
into an exclusive agreement with The Coca-Cola Company to
manufacture, market, and distribute Topo Chico Hard Seltzer in the
U.S., taking another big step in its plan to aggressively grow the
company’s above premium portfolio and become a major competitor in
the fast-growing hard seltzer segment.
“Building on the incredibly successful launches of Vizzy and
Coors Seltzer earlier this year, we are thrilled that Molson Coors
will launch Topo Chico Hard Seltzer in 2021,” said Gavin
Hattersley, CEO of Molson Coors. “This is another significant step
in growing our above premium portfolio and becoming a major
competitor in the rapidly-growing hard seltzer segment, both key
components of our revitalization plan.”
Topo Chico Hard Seltzer blends purified sparkling water, a
gluten-free alcohol base and natural flavors, with minerals added
for taste, and is inspired by Topo Chico sparkling mineral water, a
125-year-old brand with a rich history that has been popular with
consumers across the United States including many mixologists. Topo
Chico Hard Seltzer will be developed in 4 flavors including: Tangy
Lemon Lime, Exotic Pineapple, Strawberry Guava and Tropical Mango,
available in 4 flavor, 12-pack Variety Pack (Slim Can).
“The Coca-Cola Company and Molson Coors have a shared passion
for building and growing some of the world’s most beloved brands,”
said Dan White, Vice President of Strategic Initiatives, The
Coca-Cola Company. “In bringing Topo Chico Hard Seltzer to market,
our focus is speed, quality and efficiency. Our relationship with
Molson Coors Beverage Company allows Topo Chico Hard Seltzer to
launch with scale, at an accelerated pace, delivering a product
that consumers will love.”
Molson Coors will use its marketing, sales and distribution
expertise for a scaled national launch in the first half of 2021,
prioritizing markets where Topo Chico sparkling mineral water is
known and loved. The production and packaging of the products will
be initially handled by a third party.
Topo Chico Hard Seltzer represents the third hard seltzer brand
in the Molson Coors portfolio. Vizzy, which is made with
antioxidant vitamin C from acerola superfruit, launched in April
and has been on Nielsen’s top-10 growth brands since August 8.
Coors Seltzer launched at the end of August, and early results have
exceeded expectations and Molson Coors believes it can be the
leading popular beer brand in the segment.
The agreement is the latest in a series of steps Molson Coors
has made to grow the business by maintaining the strength of its
iconic core brands, aggressively growing its portfolio of above
premium beverages, expanding beyond beer altogether and investing
in the company’s core capabilities. Earlier this month Molson Coors
announced a joint venture to expand Yuengling beer westward for the
first time ever.
About Molson Coors Beverage
Company
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 The Coca-Cola
Company
The Coca-Cola Company (NYSE: KO) is a total beverage company,
offering over 500 brands in more than 200 countries and
territories. In addition to the company’s Coca-Cola brand, our
portfolio includes AdeS, Ayataka, Costa, Dasani, Del Valle, Fanta,
Georgia, Gold Peak, Honest, innocent, Minute Maid, Powerade,
Simply, smartwater, Sprite, vitaminwater and ZICO. We’re constantly
transforming our portfolio, from reducing sugar in our drinks to
bringing innovative new products to market. We’re also working to
reduce our environmental impact by replenishing water and promoting
recycling. With our bottling partners, we employ more than 700,000
people, helping bring economic opportunity to local communities
worldwide. Learn more at www.coca-colacompany.com and follow us on
Twitter, Instagram, Facebook and LinkedIn.
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 its
future performance, projections regarding the seltzer market and
expectations regarding the Topo Chico Hard Seltzer are
forward-looking statements. 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 its
brands in its markets; economic conditions in its markets; Molson
Coors’ ability to maintain manufacturer/distribution agreements;
changes in its supply chain system; availability or increase in the
cost of packaging materials; success of its joint ventures; changes
in legal and regulatory requirements, including the regulation of
distribution systems; increase in the cost of commodities used in
the business; the impact of climate change and the availability and
quality of water; loss or closure of a major brewery or other key
facility; its ability to maintain good labor relations; its ability
to maintain brand image, reputation and product quality; and other
risks discussed in its filings with the SEC, including its most
recent Annual Report on Form 10-K and its 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. Molson Coors does not undertake to update forward-looking
statements, whether as a result of new information, future events
or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20200929005637/en/
Marty Maloney Molson Coors (773) 972-7780
Martin.Maloney@molsoncoors.com
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