Molson Coors Beverage Co. announced another partnership with Coca-Cola Co. on Tuesday: the beverage giants are launching a version of the Simply brand of juices with alcohol.
Simply Spiked Lemonade will come in a variety pack this summer that will also include other flavors like strawberry lemonade and watermelon lemonade. Each flavor will be made with fruit juice and contain 5% alcohol by volume and 170 calories. Some flavors will be available as a standalone purchase.
Molson Coors
TAP,
and Coca-Cola
KO,
have previously teamed up for Topo Chico Hard Seltzer, with a margarita version coming in 2022 and expansion in Canada on the way.
Read: Coca-Cola upgraded as anticipation grows that multibillion-dollar IRS tax case will come to a close
Coca-Cola has also partnered with Corona beer parent Constellation Brands Inc.
STZ,
on an alcoholic version of the Fresca soft drink.
Coca-Cola is diving deeply into the “adult alternative beverage” category, which includes ready-to-drink cocktails. The category’s market has reached nearly $8 billion and is expected to have a compound annual growth rate of 15% to 17% over the next three years, according to data provided by Constellation Brands.
Simply is a billion-dollar brand and Coca-Cola’s second biggest after the namesake soda brand. Molson Coors provided data showing that flavored alcohol beverages are a nearly $2 billion category that experienced 10% growth in 2021.
Coca-Cola stock has gained 21.4% over the past year. Molson Coors shares have fallen 4.8%. And the benchmark Dow Jones Industrial Average
DJIA,
has gained 9.6%.
