Molson Coors Beverage (NYSE: TAP) has become the latest brewer to enter the spirits market as hard seltzer's popularity sharply fades in the U.S.
The brewer announced that on Sept. 1, its new Coors Whiskey Company will roll out a 95-proof, ultra-premium whiskey called Five Trail that's made from a blend of single-malt whiskey and three bourbons, and will retail for $60 for a 750-milliliter bottle.
It's part of a larger portfolio realignment Molson is undertaking to scale up to mostly premium and super-premium beverages. And it's why it also just announced it was gutting the economy portion of its drinks menu. The brewer will discontinue 11 beer labels, including Miller High Life Light and Keystone Ice.
For further details see:
Brewers Are Flooding Into Spirits. Should Investors Avoid Them?