Molson Coors To Launch Non-Alcoholic Blue Moon For 'Dry January' As Part Of Beyond-Beer Makeover

Molson Coors Beverage Company (NYSE:TAP), known for brands like Miller Lite and Blue Moon, is venturing into non-alcoholic offerings and has something different lined up for next year. 

What Happened: CEO Gavin Hattersley talked about this strategic shift in an interview with CNBC’s Jim Cramer, emphasizing his company’s commitment to aligning with evolving consumer preferences towards health and wellness.

With a growing number of consumers, especially younger individuals in their 20s, prioritizing well-being, Hattersley said Molson Coors is “moving beyond beer; we’re moving into ‘non-alc’ products, whether those are energy drinks or non-alcoholic beers.” 

He also shared plans to introduce a non-alcoholic version of the popular Blue Moon beer in time for “dry January.”

The key to success in the non-alcoholic beverage market lies in taste, and Hattersley is confident that Molson Coors’ brewers have crafted a non-alcoholic Blue Moon that faithfully replicates the original beer’s flavor. "If it tastes good, the consumers are going to drink them," he said.

See Also: Analyst Expectations for Molson Coors Beverage’s Future

Why It Matters: In tandem with this strategic shift, Molson Coors in September expanded its partnership with ZOA Energy, an energy drink brand co-founded by Dwayne “The Rock” Johnson. The financial details of this investment were not disclosed.

The extended partnership will enable ZOA Energy to enhance its marketing efforts, drive sales growth, and expand its presence in international markets. 

Price Action: Molson Coors shares closed Wednesday up 2.27% at $63.03, and rose 0.43% in after-hours trading, according to data from Benzinga Pro.

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