Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading
beverage alcohol company, announced today that it has entered into
a brand authorization agreement with The Coca-Cola Company in the
United States to bring the FRESCA® brand into beverage alcohol
through the manufacturing, marketing, distribution, and launch of
FRESCA™ Mixed – 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, flavor, 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 (source: Nielsen AMC YTD
11-27-21). Favored 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 (source: Bev360 Dec
2020 12MMT). Leveraging its credentials as a popular mixer that
lifts all spirits it’s paired with, FRESCA™ Mixed cocktails will
perfectly balance the FRESCA® flavor consumers expect with quality
spirit bases rooted in Constellation’s expertise. The new FRESCA™
Mixed will be a distinctive and intriguing brand that delivers
consumers fuller-flavored, convenient, ready-to-drink cocktails
using real spirits that are great tasting and high quality.
“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 flavor, different alcohol bases, and functional
benefits.”
Added Dan White, chief of new revenue streams, Coca-Cola North
America Operating Unit: “The Coca-Cola Company and Constellation
Brands have a shared passion for building some of the world’s most
loved brands and for building best-in-class beverage experiences.
Our new relationship with Constellation Brands is ideal due to
their consumer-focused approach to brand building, expansive
distribution network, and distilled distribution expertise. With
the launch of FRESCA™ Mixed by Constellation, people will have an
entirely new way to enjoy the taste of FRESCA®, now mixed with real
spirits.”
FRESCA™ Mixed is expected to launch this year, starting with
cocktails using real spirits and inspired by recipes created by
FRESCA® fans from around the globe. The products will be produced
and marketed by Constellation and distributed through
Constellation’s 3-tier distribution networks, leveraging the
company’s consumer knowledge, brand-building capabilities, beverage
alcohol expertise, and strong retail and trade relationships to
secure national distribution.
FORWARD-LOOKING STATEMENTS This news release
contains forward-looking statements. All statements other than
statements of historical fact are forward-looking statements. The
word “expect” and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain such identifying words. These statements may
relate to business strategy, future operations, prospects, plans
and objectives of management, as well as information concerning
expected actions of third parties. All forward-looking statements
involve risks and uncertainties that could cause actual results to
differ materially from those set forth in, or implied by, such
forward-looking statements.
The forward-looking statements are based on management's current
expectations and should not be construed in any manner as a
guarantee that such results will in fact occur or will occur on any
contemplated timetable. All forward-looking statements speak only
as of the date of this news release and Constellation Brands
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
In addition to risks and uncertainties associated with ordinary
business operations, the forward-looking statements contained in
this news release are subject to other risks and uncertainties,
including the accuracy of all projections and other factors and
uncertainties disclosed from time-to-time in Constellation Brands’
filings with the Securities and Exchange Commission, including its
Annual Report on Form 10-K for the fiscal year ended
February 28, 2021, which could cause actual future performance
to differ from current expectations.
ABOUT CONSTELLATION BRANDSAt Constellation
Brands (NYSE: STZ and STZ.B), our mission is to build brands that
people love because we believe sharing a toast, unwinding after a
day, celebrating milestones, and helping people connect, are Worth
Reaching For. It’s worth our dedication, hard work, and the bold
calculated risks we take to deliver more for our consumers, trade
partners, shareholders, and communities in which we live and work.
It’s what has made us one of the fastest-growing large CPG
companies in the U.S. at retail, and it drives our pursuit to
deliver what’s next.Today, we are a leading international producer
and marketer of beer, wine, and spirits with operations in the
U.S., Mexico, New Zealand, and Italy. Every day, people reach for
our high-end, iconic imported beer brands such as Corona Extra,
Corona Light, Corona Premier, Modelo Especial, Modelo Negra, and
Pacifico, and our high-quality premium wine and spirits brands,
including the Robert Mondavi brand family, Kim Crawford, Meiomi,
The Prisoner brand family, SVEDKA Vodka, Casa Noble Tequila, and
High West Whiskey.
But we won’t stop here. Our visionary leadership team and
passionate employees from barrel room to boardroom are reaching for
the next level, to explore the boundaries of the beverage alcohol
industry and beyond. Join us in discovering what’s Worth Reaching
For.
To learn more, follow us on Twitter @cbrands and visit
www.cbrands.com.
ABOUT THE COCA-COLA COMPANYThe Coca-Cola
Company (NYSE: KO) is a total beverage company with products sold
in more than 200 countries and territories. Our company’s purpose
is to refresh the world and make a difference. We sell multiple
billion-dollar brands across several beverage categories worldwide.
Our portfolio of sparkling soft drink brands includes Coca-Cola,
Sprite and Fanta. Our hydration, sports, coffee and tea brands
include Dasani, smartwater, vitaminwater, Topo Chico, BODYARMOR,
Powerade, Costa, Georgia, Gold Peak, Honest and Ayataka. Our
nutrition, juice, dairy and plant-based beverage brands include
Minute Maid, Simply, innocent, Del Valle, fairlife and AdeS. We’re
constantly transforming our portfolio, from reducing sugar in our
drinks to bringing innovative new products to market. We seek to
positively impact people’s lives, communities and the planet
through water replenishment, packaging recycling, sustainable
sourcing practices and carbon emissions reductions across our value
chain. Together with our bottling partners, we employ more than
700,000 people, helping bring economic opportunity to local
communities worldwide. Learn more
at www.coca-colacompany.com and follow us
on Twitter, Instagram, Facebook and LinkedIn.
MEDIA CONTACTS |
INVESTOR RELATIONS CONTACTS |
Mike McGrew 773-251-4934 /
michael.mcgrew@cbrands.comAmy Martin 585-678-7141 /
amy.martin@cbrands.comThe Coca-Cola Company
/ press@coca-cola.com |
Patty Yahn-Urlaub 585-678-7483 /
patty.yahn-urlaub@cbrands.comMarisa Pepelea 312-741-2316 /
marisa.pepelea@cbrands.comAdam Russell 585-678-7292 /
adam.russell@cbrands.com |
A downloadable PDF copy of this news release can be found
here http://ml.globenewswire.com/Resource/Download/a5c29944-d9a1-4ac0-8640-3c006d0545f5
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