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Oct. 13, 2021, 9:58 a.m. EDT

Topo Chico Hard Seltzer is heading to Canada

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By Tonya Garcia

Molson Coors Beverage Co. /zigman2/quotes/205165133/composite TAP -1.24% and Coca-Cola Co. /zigman2/quotes/209159848/composite KO -0.38% are expanding their partnership in order to manufacture and distribute Topo Chico Hard Seltzer in Canada. The product will launch in most parts of Canada in summer 2022. Molson Coors announced in May 2021 that it was investing $100 million to expand its hard seltzer manufacturing in Canada. The two companies announced their U.S. distribution partnership in September 2020. The hard seltzer category has become a crowded one, prompting a "reset," according to one analyst group. Topo Chico Hard Seltzer is the number three brand, according to data provided by Molson Coors, and is planning a U.S. expansion in January. Molson Coors stock is up 1% for the year to date. Coca-Cola has fallen 1.5%. And the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.10% has gained 12% for the period.

/zigman2/quotes/205165133/composite
US : U.S.: NYSE
$ 46.11
-0.58 -1.24%
Volume: 1.23M
Dec. 8, 2021 4:02p
P/E Ratio
N/A
Dividend Yield
2.95%
Market Cap
$10.16 billion
Rev. per Employee
$567,882
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/zigman2/quotes/209159848/composite
US : U.S.: NYSE
$ 55.00
-0.21 -0.38%
Volume: 18.03M
Dec. 8, 2021 4:00p
P/E Ratio
27.06
Dividend Yield
3.05%
Market Cap
$238.51 billion
Rev. per Employee
$411,320
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
35,754.75
+35.32 +0.10%
Volume: 387.65M
Dec. 8, 2021 4:59p
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