Constellation Brands, a leader in alcoholic beverages, has announced the signing of a brand licensing agreement with The Coca. -Cola Company in the United States to bring the FRESCA® brand to alcoholic beverages through the manufacturing, marketing, distribution and launch of FRESCA ™ Mixed, a distinctive new line of ready-to-drink spirits-based cocktails that are well -aligned to a number of emerging consumer trends.
Alternative adult beverages, including ready-to-drink cocktails, represent a nearly $8 billion segment that is forecast to grow at an annual rate of 15 to 17 percent over the next three years, Constellation Brands notes.
“The Coca-Cola Company’s FRESCA® brand responds directly to consumer preferences for soft drinks, flavors and convenience, attributes that also work well within alcoholic beverages and where we can leverage our expertise,” says Bill Newlands, Constellation’s president and chief executive officer.
“One of the core tenets of our innovation strategy is a belief in the power of extending strong, trusted brands in thoughtful ways to bring unique products to market that resonate with consumers,” adds Mallika Monteiro, Constellation’s chief growth, strategy and digital officer. “This is an exciting agreement that allows us to continue to expand our premium portfolio in ways that deliver distinctive consumer value propositions that include things like more flavor, different alcohol bases and functional benefits,” notes Monteiro.
The Coca-Cola Company and Constellation Brands share a passion for creating some of the world’s most beloved brands and best-in-class beverage experiences,” said Dan White, head of new revenue streams, Coca-Cola North America Operating Unit. Our new relationship with Constellation Brands is ideal because of their consumer-centric approach to brand building, expansive distribution network and distilled distribution expertise. With the launch of FRESCA ™ Mixed by Constellation, people will have a whole new way to enjoy the taste of FRESCA®, now mixed with real spirits.”
According to the company, FRESCA ™ Mixed is expected to launch this 2022, starting with cocktails using real spirits and inspired by recipes created by FRESCA® fans around the world. The products will be produced and marketed by Constellation and distributed through Constellation’s 3-tier distribution networks, leveraging the company’s consumer knowledge, branding capabilities, beverage alcohol expertise and strong commercial and retail relationships to secure national distribution.
