Molson Coors announced Monday that it has acquired the leading "independently owned, ready-to-drink singles cocktail brand” in the U.S.
The brewing giant purchased Atomic Brands Inc., the maker of the Monaco Cocktails brand, for an undisclosed amount. Monaco, the company said, holds 5% of the ready-to-drink singles market in the U.S. and is a top-five RTD cocktail brand in the U.S. overall.
Molson Coors said that it hopes to scale Monaco beyond its current footprint of over 70,000 U.S. retail locations, and noted that the majority of Monaco’s distribution already overlaps with Molson Coors’ distribution network in the U.S.
The deal would also bolster the Peroni and Miller High Life brewer’s “Beyond Beer” line, which includes Topo Chico Hard and Fever Tree.
“This brand was developed from the ground up with dedication and a fanbase fostered through real, in-person experiences,” Molson Coors CEO Rahul Goyal said in a statement. “We believe it has the scale, the consumer loyalty and the runway for growth that we’ve been looking for.”
