Molson Coors Beverage Company ( NYSE: TAP ) announced on Thursday that it expanded its exclusive agreement with Coca-Cola Company ( KO ) to develop and commercialize Topo Chico Spirited.
The deal with the read-to-drink cocktail is said to mark another milestone in the relationship between Molson Coors ( TAP ) and Coca-Cola Company ( KO ) to follow the recent launches of Simply Spiked Lemonade and Topo Chico Hard Seltzer.
The expansion also arrives at a strategic time with Topo Chico Hard Seltzer now the fastest-growing brand in its competitive set over the latest 52-week period.
Coming to more than 20 markets across the country in 2023, Topo Chico Spirited will be made with 100% real spirits, including premium tequila from Jalisco, Mexico and will feature a lineup of familiar cocktails, many of which appear in bar and restaurant menus across the country.
Shares of TAP rose 0.55% in premarket trading on Thursday.
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Molson Coors expands agreement with Coca-Cola to include new Topo Chico beverage