Molson Coors will produce and distribute Topo Chico Hard Seltzer in Canda. It described the agreement as “another significant step in its plan to aggressively grow the company’s above premium portfolio and become a leader in the fast-growing hard seltzer segment. The product is scheduled to launch in the summer of 2022 throughout most of the country, with the Canadian debut taking place one year after the wildly successful launch of Topo Chico Hard Seltzer in the United States.”
Despite being launched in 16 different markets in the United States, Topo Chico Hard Seltzer occupies the No. 3 slot as a new item in the general malt beverages category. The brand also garnered a 2.4% share of the U.S. market according to IRI’s multi-outlet and convenience store data. This success has led to the national expansion of the brand across the United States, which will take place in January of 2022.
Topo Chico Hard Seltzer blends sparkling water and natural flavors, and is inspired by Topo Chico sparkling mineral water, a 125-year-old brand with a rich heritage that has been popular with consumers across the globe. The hard seltzer will be developed in four flavors including: Tangy Lemon Lime, Exotic Pineapple, Strawberry Guava and Tropical Mango, which will be available in a 12-pack slim can variety pack, as well as single serve cans in select flavors.
Topo Chico Hard Seltzer represents the third hard seltzer brand in the Molson Coors portfolio currently available in Canada. The Topo Chico brand is owned by Coca-Cola. Both Vizzy Hard Seltzer and Coors Seltzer launched in March 2021, and early returns have exceeded expectations with both seltzers within the leading seltzer brands based on market share. Both brands have realized extensive national distribution with increasing velocity within all provinces.
Molson Coors closed in New York State Exchange trading at $45.77, down 8 cents a share.