- CEO of Molson Coors Gavin Hattersley told CNBC's Jim Cramer on Wednesday the company is developing nonalcoholic offerings as consumers, especially younger people, trend toward health and wellness.
- "We're moving beyond beer, we're moving into 'non-alc' products, whether those are energy drinks, whether they're nonalcoholic beers," Hattersley said.
CEO of Molson Coors Gavin Hattersley told CNBC's Jim Cramer on Wednesday the company is investing in nonalcoholic offerings as consumers trend toward health and wellness.
Hattersley said some consumers — especially younger people in their 20s — are focusing on wellness, but that this change in behavior plays into the company's strategy. Molson Coors is known for beverages including Miller Lite, Blue Moon, Topo Chico Hard Seltzer and the eponymous Coors Lite.
"We're moving beyond beer, we're moving into 'non-alc' products, whether those are energy drinks, whether they're nonalcoholic beers," Hattersley said. He added the company is launching a nonalcoholic version of Blue Moon in time for "dry January."
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And according to Hattersley, Molson Coors' brewers have been able to make the popular beer's nonalcoholic offering taste very similar to the real thing.
"If it tastes good, the consumers are going to drink them," he said. "I'm looking forward to getting that in the market in December."
Hattersley also said the company's products are taking up more shelf space in stores in the fall than they usually do, and he expects that trend to continue into the spring.
Money Report
"Not only are we getting thousands and thousands of new tap handles, we're getting tens of thousands of extra square footage of retail and that, that is one of the biggest under pinners for us as we head into next year to drive the continued momentum," he said.
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