On Tuesday, Molson Coors Beverage partnered with Coca – Cola to produce alcoholic versions of Topo Chico sparkling water, a Coors’ beverage.
Coors’ shares went up by 5% in a premarket trading post the partnership in the United States.
The partnership has allowed Coca Cola to expand its market beyond Japan and Latin America selling Lemon-Do drink, an alcoholic cocktail.
Molson Coors is set to launch the Topo Chica by early 2021. White Claw beverage and other alcoholic soft drinks from companies like Anheuser Busch Inbev NV ABI.BR are some of the hard seltzer’s competitors.
The launch will predictably strengthen Molson’s plan to restructure its business as consumers shift to low-alcohol spirits, including hard seltzers, and premium beers, Reuters reported.
