CHICAGO--(BUSINESS WIRE)--Sep. 9, 2020--
Molson Coors Beverage Company (NYSE: TAP; TSX: TPX) today unveiled a new slate of non-alcoholic products that it intends to roll this fall as part of the company’s efforts to expand beyond the beer aisle and reach more consumers seeking better-for-you beverages.
Last October, the country’s second-largest brewer, then known as Molson Coors Brewing Company, redefined themselves as Molson Coors Beverage Company. In doing so, the company laid out a clear vision of leveraging the competitive strengths of their foundation in beer to grow in new spaces beyond the beer aisle. Today marks the most significant steps down that path to date with the launch of these non-alcohol brands.
“We’re following through on our promise to seek out new opportunities beyond beer, and we’ll continue to innovate and move into new spaces as it’s an important part of our long-term strategy,” said Pete Marino, president of emerging growth for Molson Coors Beverage Company. “This is just the start of our entrance to the marketplace with breakthrough brands, and we couldn’t have a better partner to embark on this journey with than LA Libations.”
The first of the new brands to hit shelves will be HUZZAH™, which launches this September in Southern California. A pumped-up, full-flavored seltzer with added probiotics to help support a healthy gut, the shelf-stable beverage contains 3g or less of sugar per 12oz can and 15 calories or less, giving HUZZAH™ a compelling point-of-difference in the popular seltzer category. HUZZAH™ will launch online at DrinkHuzzah.com and at select retailers in SoCal in three flavors: Strawberry & Hibiscus, Juicy Pear and Raspberry & Lemon.
HUZZAH™ marks the first non-alcoholic innovation from the emerging growth division at Molson Coors since the company took a long-term minority stake in L.A. Libations in November of 2019.
“These four brand launches are fueled by our dedication to health, wellness and social responsibility,” says Danny Stepper, CEO and co-founder of L.A. Libations. “With a keen eye on where the consumer is headed, in partnership with our key retail partners, we could not be more excited to launch these new innovative brands alongside our partner Molson Coors. These brands will give consumers an opportunity to taste tomorrow, today.”
Upcoming projects will continue to expand the Molson Coors non-alcoholic portfolio through trailblazing product development. Future innovations in the pipeline include:
MadVine, a 100% plant-based, diet soda with zero calories, zero sugar and zero artificial ingredients. Infused with monk fruit and recognizable ingredients, including bourbon vanilla, yuzu lemon and black cherry, MadVine will launch in three flavors: Clean Cola, Yuzu Lemon-Up, and Dr. Stepper.
Golden Wing, a cutting-edge, grain-based milk alternative packed with proteins and nutrients, made with top-quality barley and no additives, stabilizers or frothing agents.
A yet-to-be announced, nootropic performance beverage that provides enhanced focus, nutrition, and improved performance without the jitters associated with high-caffeinated drinks, geared towards gamers and developers.
“Each of these beverages micro-targets a group and problem-solves a very specific challenge that maybe hasn’t been looked at before,” said Adam Louras, vice president of operations and product development at L.A. Libations. “That’s why I’m excited about these products—they are designed with real people in mind, and I’m pumped to get them in my own fridge.”
While Molson Coors foundation is rooted in nearly 250 years of brewing great beers, the global beverage maker has signaled that it will seek out the significant growth opportunities beyond the beer aisle as well – whether it’s with CBD and cannabis products, non-alcohol beverages, wines or spirits. In addition to the products created in partnership with L.A. Libations, Molson Coors has also developed non-alcoholic, cannabis-infused beverages for Canadian and Colorado markets through its joint ventures with the HEXO Corp.
To learn more about Molson Coors’ upcoming non-alcoholic innovations, please visit molsoncoorsblog.com.
ABOUT MOLSON COORS
For over two centuries Molson Coors has been brewing beverages that unite people for all of life’s moments. From Coors Light, Miller Lite, Molson Canadian, Carling, and Staropramen to Coors Banquet, Blue Moon Belgian White, Blue Moon LightSky, Vizzy, Leinenkugel’s Summer Shandy, Creemore Springs and more, Molson Coors produces some of the most beloved and iconic beer brands ever made. While the company’s history is rooted in beer, Molson Coors offers a modern portfolio that expands beyond the beer aisle as well.
The company’s commitment to raising industry standards and leaving a positive imprint on our employees, consumers, communities and the environment is reflected in Our Imprint and our 2025 sustainability targets. To learn more about Molson Coors Beverage Company, visit molsoncoors.com, MolsonCoorsOurImprint.com or on Twitter through @MolsonCoors.
ABOUT L.A. LIBATIONS
Founded by three best friends and beverage executives in 2009, L.A. Libations is a next generation beverage creator, incubator and accelerator. L.A. Libations has forged industry successes enjoying investment events and prized brand exits with some of the biggest beverage companies and retailers in the world such as The Coca-Cola Company, Kuerig Dr Pepper, Amazon and 7-11. As the Emerging Beverage Category Captain and a trusted advisor to many of the country's largest retailers, L.A. Libations drives innovation in "better for you” beverage categories. L.A. Libations has provided services for established brands, such as Zico Coconut Water, Core Water and Body Armor; partnered with emerging brands like Space Shake, Limitless and Lucky Jack; and created brands such as Don’t Quit, Gloe Brands, and Arriba Chelada. In 2019 Molson Coors Beverage Company took a minority stake in L.A. Libations. To learn more about L.A. Libations, visit www.lalibations.com or on Instagram through @lalibations.
Forward Looking Statements
This press release includes “forward-looking statements” within the meaning of the U.S. federal securities laws. Generally, the words “believe,” "aims," “expect,” “intend,” “anticipate,” “project,” “will,” “outlook,” "desire," and similar expressions identify forward-looking statements, which generally are not historic in nature. Statements that refer to projections of our future financial performance, our anticipated results, cost savings and trends in our businesses, and other characterizations of future events or circumstances are forward-looking statements, and include, but are not limited to, expectations regarding the consumer preferences, our beyond beer ambitions, industry forces, and anticipated results. Although Molson Coors believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from Molson Coors’ historical experience, and present projections and expectations are disclosed in Molson Coors’ filings with the Securities and Exchange Commission (“SEC”). These factors include, among others, the impact of the coronavirus pandemic, the impact of increased competition resulting from further consolidation of brewers, competitive pricing and product pressures; health of the beer industry and our brands in our markets; economic conditions in our markets; availability or increase in the cost of packaging materials; success of our joint ventures; risks relating to operations in developing and emerging markets; changes in legal and regulatory requirements; our ability to implement our strategic initiatives; our ability to maintain brand image, reputation and product quality; and other risks discussed in our filings with the SEC, including our most recent Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. We do not undertake to update forward-looking statements, whether as a result of new information, future events or otherwise.
View source version on businesswire.com:
Source: Molson Coors