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Molson Coors First Hard Seltzers to Expand Beyond Beer in Canada for $100 Million
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Molson Coors Beverage Co.’s Canadian sector is adding a new segment to this giant beer brand – two sparkling alcoholic drinks will be expanding beyond beer for about $100 million.
Vizzy and Coors Seltzer will be the first entry into the hard seltzer category for the brand in Canada which will launch early next month.
The $100-million figure includes development, marketing, distribution and packaging costs, and represents the company’s biggest product-launch budget in a decade, according to Molson Coors Canada president Frederic Landtmeters.
Molson Coors branched out into hard seltzer in the U.S. last year and with the growing demand for hard seltzer and summer months quickly approaching this launch comes at a time where restoration from the damage the pandemic brought the industry is surely needed.
Molson Coors also looks at tapping into a market where heath-consciousness is increasing and several companies are producing alcoholic beverages that contain fewer calories and less gluten than beer. Molson Coors’s hard seltzers have an ABV of 4.5 to five percent, similar to beer.
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