Coinspeaker
The Coca-Cola Company and Pernod Ricard Team Up to Release Ready-to-Drink Absolut & Sprite Cocktail
The world’s largest beverage corporation The Coca-Cola Company (NYSE: KO) and a global leader in wine and spirits Pernod Ricard have announced a partnership for the upcoming release of Absolut Vodka & Sprite – a ready-to-drink premixed cocktail. As the name suggests, the cocktail will be made with Absolut vodka – a premium vodka produced by Pernod Ricard, and Sprite – a sparkling non-alcoholic beverage owned by Coca-Cola. The cocktail will be available in two versions, Sprite and Sprite Zero Sugar.
Select European countries, including the United Kingdom, the Netherlands, Spain, and Germany, will get a chance to try the drink as soon as early 2024.
Both Absolut and Sprite are worldwide known brands. Absolut is the world’s leading premium vodka and sixth-largest spirits brand that has been part of the Pernod Ricard group since 2008. Meanwhile, Sprite is the world’s leading lemon-lime flavored soda, and the third best-selling soft drink brand worldwide sold in more than 190 countries.
James Quincey, Chairman and CEO of The Coca-Cola Company, commented:
“We keep consumers at the center of everything we do as we continue to develop our portfolio as a total beverage company. We are expanding in the alcohol ready-to-drink space, including products that use select brands from our core portfolio. We are excited about our new relationship with Pernod Ricard and look forward to the introduction of Absolut & Sprite.”
Alexandre Ricard, CEO of Pernod Ricard, stated:
“This very promising and pioneering project brings together two leading companies who are committed to offering their consumers new experiences around premium products. Sprite is a wonderful pairing for Absolut, and I’m convinced that our joining forces will bring the whole alcohol RTD category to the next level.”
It is not yet clear what kind of design the drink will have. For sure, the cans will include statements or symbols informing about the drink being created for consumers of the legal drinking age.
Coca-Cola Exploring Alcohol Opportunities
For The Coca-Cola Company, the deal is a great opportunity to expand its portfolio. Previously, the company was producing non-alcoholic beverages only, but with the rapid growth of the canned cocktail industry, Coca-Cola decided to benefit from exploring new opportunities.
In 2021, Coca-Cola announced a global relationship with Brown-Forman – the world’s fifth-largest global alcoholic beverage company and maker of Jack Daniel’s Tennessee Whiskey. In June 2022, they released a ready-to-drink Jack Daniel’s & Coca-Cola pre-mixed cocktail, which became a revolutionary beverage. Initially, the drink was launched in Mexico. In March this year, it also hit the US stores.
To explore further opportunities in the alcohol business, Coca-Cola has established a federally permitted alcohol subsidiary called Red Tree Beverages. The move has been a strategic shift in Coca-Cola’s business due to the rising need to diversify its offerings and adapt to volatile market dynamics. The Coca‑Cola Company also developed a Responsible Alcohol Marketing Policy to ensure it grows its alcohol brands in responsible and sustainable ways and prohibits targeted marketing to people below the legal drinking age.
The Coca-Cola Company and Pernod Ricard Team Up to Release Ready-to-Drink Absolut & Sprite Cocktail
