Coca-Cola and Constellation Brands create RTD cans
Constellation Brands Inc, a leading beverage alcohol company, announced that it has entered into a brand authorisation agreement with The Coca-Cola Company to create canned ready-to-drink canned cocktails.
Fresca mixed will be a new, distinctive line of spirit-based, ready-to-drink cocktails that are well-aligned to a number of emerging consumer trends.
“The Coca-Cola Company’s Fresca brand is not only trusted by consumers, but also directly delivers on consumer preferences for refreshment, flavour, and convenience – attributes that also play well within beverage alcohol and where we can leverage our expertise,” said Bill Newlands, Constellation’s president and chief executive officer.
Adult Alternative Beverages, including ready-to-drink cocktails, represents nearly an $8 billion segment projected to grow at a 15-17 percent CAGR over the next three years, with trusted consumer brands commanding a significant share of the market, according to Constellation Brands market research.
Fresca is experiencing a surge in popularity with consumers and is currently the fastest growing soft drink trademark in The Coca-Cola Company’s U.S. portfolio.
Favoured by consumers and celebrities as a cocktail mixer, a soft drink, and a zero-calorie, zero-sugar sparkling soda water, consumers consider Fresca the no. 1 most unique and different product in the soft drink category.
“One of the core tenets of our innovation strategy is a belief in the power of extending strong and trusted brands in thoughtful ways to bring to market unique products that resonate with consumers,” said Mallika Monteiro, Constellation’s chief growth, strategy, and digital officer.
“This is an exciting agreement that allows us to continue expanding our premium portfolio in ways that deliver distinctive consumer value propositions that include things like more flavour, different alcohol bases, and functional benefits.”