Coca-Cola Company (The) (NYSE:KO), Constellation Brands Inc (NYSE:STZ) – How ‘Bout A Hard Fresca? Coca-Cola, Constellation Brands To Launch Alcohol Product Line

A new drink for the country club? Coca-Cola Company (NYSE: KO) is teaming with Constellation Brands Inc. (NYSE: STZ) to create an alcohol beverage line based on the Fresca soft drink brand.

What Happened: The companies are planning to launch Fresca Mixed, a ready-to-drink cocktail mixer. Details on the new product’s contents were not released, although the companies stated it would be available in retail channels later in the year with Constellation Brands producing, marketing and distributing the product.

“The Coca-Cola Company’s Fresca brand is not only trusted by consumers, but also directly delivers on consumer preferences for refreshment, flavor, and convenience – attributes that also play well within beverage alcohol and where we can leverage our expertise,” said Bill Newlands, Constellation’s president and CEO.

Related Link: Andy Cohen Defends His Drunken New Year’s Eve Broadcast

Why It Happened: Fresca has been part of the Coca-Cola Company’s product portfolio since 1958 and has been marketed as a sugar-free soft drink.

“With the launch of Fresca Mixed by Constellation, people will have an entirely new way to enjoy the taste of Fresca, now mixed with real spirits,” said Dan White, chief of new revenue streams at Coca-Cola North America Operating Unit.

This is Coca-Cola’s second foray into alcohol-based products. The company teamed with Molson Coors Beverage Co. (NYSE: TAP) in 2021 on the launch of Topo Chico hard seltzer.

Coca-Cola is also seeking parity with rival PepsiCo Inc. (NASDAQ: PEP), which partnered with Boston Beer Company Inc. (NYSE: SAM) last summer on Hard MTN Dew, a flavored malt beverage featuring an alcohol by volume level of 5%.

Photo: Courtesy Coca-Cola Company

© 2022 Benzinga does not provide investment advice. All rights reserved.

Source link

Leave a Reply