Coca-Cola, Molson Coors launching Topo Chico Spirited canned cocktails
The new ready-to-drink cocktails follow the launches of Topo Chico Hard Seltzer, Simply Spiked Lemonade
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Molson Coors Beverage Company is expanding its partnership with Coca-Cola with the launch of Topo Chico Spirited, a line of spirit-based, ready-to-drink cocktails.
According to the companies, Topo Chico Spirited will be made with 100% real spirits, including premium tequila from Jalisco, Mexico, and feature a lineup of three familiar cocktails.
Topo Chico Spirited will be made with 100% real spirits, including premium tequila from Jalisco, Mexico, and feature a lineup of three familiar cocktails. (Photo courtesy of Molson Coors Beverage Company)
"Taking inspiration from the popular cocktails made in bars and restaurants today, Topo Chico Spirited will bring something completely different to our aisle," David Coors, Molson Coors’ vice president of next generation beverages, said in a statement. "We believe Topo Chico Spirited will shake up the canned cocktail space with unparalleled flavors and a legacy rooted in the iconic 125-year-old master-brand."
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TAP | MOLSON COORS BEVERAGE CO. | 61.99 | +0.77 | +1.25% |
| KO | THE COCA-COLA CO. | 63.93 | -0.01 | -0.02% |
The Topo Chico Spirited line will hit store shelves in more than 20 markets across the country in 2023, including Texas, Colorado, Oklahoma, Kansas, Missouri, California, Arizona, New Mexico, Nevada, Washington, Florida, Arkansas, Mississippi, Tennessee, Georgia, Louisiana, Illinois, Wisconsin, Ohio, Minnesota, Michigan and Virginia.
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The launch of Topo Chico Spirited comes after the beverage giants launched Topo Chico Hard Seltzer last year and officially launched the popular Simply Spiked Lemonade in June.
Molson Coors CEO Gavin Hattersley said on the company's second quarter earnings call in August that its total share of the U.S. hard seltzer market grew to over 9% during the quarter, bolstered in part by Topo Chico Hard Seltzer. Meanwhile, the company has sold over 60,000 hectoliters of Simply Spiked Lemonade, which achieved a 3.5% share of the food and beverage segment during the quarter.
Molson Coors' and Coca-Cola's Topo Chico Hard Seltzer.
Coca-Cola entered the RTD alcoholic beverage category in 2018 with Lemon-Dou in Japan. The company's other offerings include Jack Daniel's & Coca-Cola RTD, Schweppes Pre-Mixed Cocktails and Fresca Mixed canned cocktails.
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A new report released in September by the Distilled Spirits Council of the United States (DISCUS) and found that premixed cocktails, which include spirits-based RTDs, were the fastest growing spirits category in both revenue and volume in 2021.
The trade organization notes that supplier revenue from sales of premixed cocktails and spirits-based RTDs rose by 42.3% to $1.6 billion in sales in 2021. The category also saw a 56% increase in volume, selling 13.1 million more cases than in 2020.
"Sales of spirits-based RTD beverages have taken off, and we see no sign of a slowdown," DISCUS spokesperson Lisa Hawkins told FOX Business. "Consumers are seeking authenticity, quality, variety and convenience in their beverage alcohol products and that’s what spirits-based RTDs have to offer."
The IWSR, a London-based firm which tracks global alcoholic beverage trends, forecasts that spirit-based RTDs could reach a compound annual growth rate of 33% in volume by 2025.