Benzinga | Oct 12, 2021 11:18AM EDT

Molson Coors To Launch Coca-Cola's Topo Chico Hard Seltzer In Canada During Summer Of 2022

* Molson Coors Beverage Co (NYSE:TAP) entered an exclusive agreement with Coca-Cola Co (NYSE:KO) to manufacture, market, and distribute Topo Chico Hard Seltzer in Canada.

* The product is scheduled to launch in the summer of 2022, with the Canadian debut taking place one year after the launch of Topo Chico Hard Seltzer in the U.S.

* Topo Chico Hard Seltzer represents the third hard seltzer brand in the Molson Coors portfolio currently available in Canada.

* The hard seltzer will be developed in four flavors: Tangy Lemon Lime, Exotic Pineapple, Strawberry Guava, and Tropical Mango.

* In May 2021, Molson Coors announced a $100 million investment in Canadian operations to quadruple in-house production capacity for hard seltzers.

* Price Action: TAP shares are trading higher by 1.33% at $46.45 on the last check Tuesday.