After a challenging prior year, Molson Coors Beverage Company bounced back in 2021 with the reopening of bars, restaurants, and sports and entertainment venues, and launched a host of new products and ambitious marketing campaigns that have paid off.
Its largest brands, Coors Light and Miller Lite, are growing in sales through the third quarter of 2021, and its hard seltzer portfolio took off in the U.S. and many other countries. In addition, as proof of these good data, the North American company has announced new investment plans. Specifically, it will invest $100 million to increase its hard seltzer and beer brewing capabilities in Canada and the UK, while capitalizing on similar investments in the US. Made significant progress on its sustainability strategy, helping its barley farmers adapt to changing conditions and transitioning its UK operations to 100% renewable energy.
In the United States, Coors Light and Miller Lite grew the top line through the third quarter of 2021. Coors Light also increased volume in Latin America, including its first growth in Puerto Rico in 15 years. Likewise, the company’s duo of American hard seltzers, Vizzy Hard Seltzer and Topo Chico Hard Seltzer, outperformed the segment by a staggering amount. Overall, Molson Coors hard seltzer brands have gained nearly 88% in U.S. dollar sales compared to the prior year.
In Canada, booming growth at Coors Light and an outstanding performance from Vizzy and Coors Seltzer hard seltzers helped Molson Coors post across-the-board growth through the third quarter. Meanwhile, in Europe, where bar, pub and restaurant reopenings helped boost net sales revenue nearly 15% in the third quarter, Molson Coors announced a new leader to start 2022: Sergey Yeskov, managing director of the company’s Central and Eastern Europe region, will take over.
Another important non-alcoholic play is their partnership with La Colombe Premium Coffee Roasters. What began as a limited distribution partnership exploded in 2021, when Molson Coors unlocked the rights to distribute La Colombe’s line of canned coffee drinks to supermarkets and big-box stores across the United States.
Last year also saw two major developments out of Colorado, where Truss CBD USA, a joint venture between Molson Coors and Canadian cannabis company HEXO Corp, launched its first Veryvell CBD beverages statewide. It’s now available online in 17 states.
Without a doubt, the biggest product launch was Topo Chico Hard Seltzer, which Molson Coors produces, distributes and markets as part of an agreement with The Coca-Cola Company. Initially available in only 16 markets, Topo Chico Hard Seltzer quickly won over consumers. Bolstered by its fast start, Molson Coors announced it would take the brand national in January 2022.
