Coca-Cola expands in ready-to-drink alcohol space with new Absolut vodka & Sprite cocktail
By: Clark Schultz - SA EditorCoca-Cola Company (NYSE:KO) announced on Monday a new partnership with Pernod Ricard SA (PDRDF) to debut Absolut Vodka & Sprite as a ready-to-drink pre-mixed cocktail in 2024.
Absolut & Sprite will be made with Absolut and Sprite. The pre-mixed cocktail will be available in versions with Sprite and Sprite Zero Sugar, with the initial launch planned for select European countries in early 2024, including the United Kingdom, the Netherlands, Spain and Germany.
"We keep consumers at the center of everything we do as we continue to develop our portfolio as a total beverage company," noted Coca-Cola CEO James Quincey. The company plans to expand in the alcohol ready-to-drink space, including products that use select brands from our core portfolio.
The beverage companies see the partnership as a natural fit. Vodka is one of the most popular bases for alcohol ready-to-drink products, and lemon-lime soft drinks are one of the most popular mixers in pre-mixed cocktails. Absolut & Sprite ready-to-drink packaging will feature two of the world’s most recognizable global trademarks. Absolut was established in 1879 in Sweden. Since then, it has become a world-renowned premium vodka brand, crafted using the finest Swedish winter wheat. Sprite was established in 1959 in Germany and has grown to be one of the biggest brands in Coca-Cola's (K) global portfolio.
Nielsen data over the summer indicated prepared cocktails continued to be the fastest growing category in distilled spirits. High Noon, Anheuser-Busch's (BUD) Cutwater Spirits and Jose Cuervo products all were red-hot during the summer with consumers.
Coca-Cola (KO) already has a global relationship with Brown-Forman Corporation (BF.B) (BF.A) to sell the iconic Jack & Coke cocktail as a branded, ready-to-drink pre-mixed cocktail option in Mexico and the U.S.
