Topo Chico Hard Seltzer
Source: Coca-Cola
Coca-Cola on Tuesday announced it will release a hard seltzer under its Topo Chico brand later this year.
The new drink will be sold in select cities in Latin America. Topo Chico Hard Seltzer will launch in the United States in 2021, making it the company's first foray into alcoholic beverages in its home market for the first time since it sold its Wine Spectrum business in 1983.
Coke acquired Topo Chico in 2017. The sparkling mineral water is a cult favorite among Texans, but the beverage giant has been expanding its distribution since the deal. On the company's second-quarter earnings call, CEO James Quincey referred to Topo Chico as a rising star in Coke's portfolio.
Both sparkling water and hard seltzer are fast-growing categories for the beverage industry. In 2019, hard seltzer's volume more than tripled, helping reverse the trend of declining global alcohol consumption, according to IWSR.
White Claw, which is owned by Mike's Hard Lemonade brewer Mark Anthony Brands, and Boston Beer's Truly hold most of the market share. Other beverage giants, including Anheuser-Busch InBev and Constellation Brands, have added hard seltzer lines to some of their most recognizable brands.
Coke said it would share more details about Topo Chico Hard Seltzer closer to the launch.
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July 30, 2020 at 11:36PM
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Coca-Cola to enter hard seltzer market through Topo Chico brand - CNBC
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