EUROPE – Molson Coors Beverage Company, a US-based multinational drink and brewing company is investing approximately £5 million in its UK hard seltzer brand, Three Fold, in an effort to expand its share of the country’s hard seltzer category.
According to a report by FoodBev, the investment marks the biggest brand investment made by the company in a new category in the UK.
The company first entered into UK’s hard seltzer market in June last year through an exclusive distribution partnership with Bodega Bay to support the brands further roll-out in Ireland & the UK for both On and Off trade
Molson Coors later that year launched its own hard seltzer line Three Fold, through the brand’s ecommerce site.
A statement from the company notes that the brand is now available in Morrisons, off-license chain Bargain Booze and through the UK wholesaler Bestway.
Molson Coor’s increased expenditure follows a period of rapid expansion of the hard seltzer market, particularly in the US where the category is experiencing the fastest growth in the alcoholic beverage segment.
According to Grand Review Research, rapid expansion of hard seltzer in the United States and the America’s region made the largest contribution in the market of over 70.0% in 2019.
Molson Coors has witnessed success with its state-side brands, including Coors Seltzer, Vizzy Hard Seltzer and Proof Point Spiritited Seltzer.
In addition, Molson recently quadrupled its hard seltzer production capacity in Canada in anticipation for a further rise in demand.
Having recorded product successes in the US, Molson Coors is now eyeing the UK market, and the huge investment on its brand is sign of confidence on the region’s market potential.
“All the signs point to hard seltzers being the next drinks category to firmly establish itself in the UK,” Charlotte Revill, brand manager at Molson Coors, said.
“We expect its rapid growth in the US to be mirrored here and a major investment in our own product is to ensure that we, and our customers, are at the forefront of this quickly emerging category.”
Three Fold hard seltzer comes in three flavours – Red Berries, Tropical and Citrus – and is already making a case for itself in the UK market.
“The sales performance of hard seltzers speaks for itself and is far higher than normally expected of a new category entrant to the market,” Charlotte added.
“Three Fold has certainly followed this trend and sales through our new listing with Morrisons have significantly exceeded expectations.”
Müller’s Mühle invests in new refining technology
Meanwhile in Germany, Müller’s Mühle a supplier of flour-based on pulses and rice has invested 14.5 million euros in a new refining technology for flour-based on pulses.
With the new technology, the German company that is part of the GoodMills group says it can now produce functional flours with a protein content of up to 65% – enabling protein enrichment for many foods.
Müller’s Mühle uses a range of legume species as raw materials (pea, bean and lentil), which are processed into flours marketed under its Smart Pulses Pro brand.
According to the company, its legume flours are particularly suitable as a basis for plant-based alternatives such as meat, egg and milk substitutes, as well as for snacks, baked goods and pasta.
Liked this article? Subscribe to Food Business Africa News, our regular email newsletters with the latest news insights from Africa and the World’s food and agro industry. SUBSCRIBE HERE
