Constellation Brands, Coca Cola to bring alcoholic version of FRESCA
Constellation Brands and The Coca-Cola Company are joining forces to bring out an alcoholic version of the FRESCA soft drink brand in the form of FRESCA Mixed.
In this connection, the two firms have signed a brand authorization agreement for the manufacturing, marketing, distribution, and launch of the new alcoholic beverage.
According to Constellation Brands, FRESCA Mixed will be a distinctive line of spirit-based, ready-to-drink cocktail range.
Bill Newlands — Constellation Brands president and CEO said: “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.”
Constellation Brands said that as per its market research, ready-to-drink cocktails and other adult alternative beverages represent almost an $8 billion segment, which, over the next three years, is projected to expand at a 15-17% compound annual growth rate (CAGR).
FRESCA Mixed is likely to be rolled out this year, beginning with cocktails using real spirits and inspired by recipes created by fans of FRESCA from around the world.
Constellation Brands said that it will be responsible for producing and marketing the products and distributing them via its three-tier distribution networks.
Dan White — Coca-Cola North America Operating Unit chief of new revenue streams said: “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.”