Molson Coors Beverage Company (NYSE:TAP) has formed a strategic alliance with Fever-Tree Drinks plc to broaden its portfolio of non-alcoholic drinks in the U.S.

Beginning on February 1, 2025, Molson Coors will take on exclusive rights for the marketing, distribution, and co-manufacturing of Fever-Tree’s premium mixers, such as tonics and ginger beers, throughout the country.

Also, Molson Coors has acquired an 8.5% ownership stake in Fever-Tree, positioning itself as the second-largest shareholder in the mixer brand. The financial terms were not disclosed.

This collaboration supports Molson Coors’ recent momentum, which also includes its purchase of a majority stake in ZOA Energy in 2024.

The partnership is expected to boost Molson Coors’ effort to diversify its product offerings, catering to both alcoholic and non-alcoholic consumer preferences.

Related Read: Alcohol Giant Diageo Sells Majority Stake In Guinness Ghana For $81 Million

Founded in the U.K. in 2004, Fever-Tree holds the title of the leading tonic and ginger beer brand in the U.S., according to Nielsen. The U.S. remains Fever-Tree’s prominent market, playing a crucial role in its global revenue.

Molson Coors aims to leverage Fever-Tree’s strong presence in the U.S. by utilizing its extensive distribution capabilities and commercial reach.

The company’s “Beyond Beer” strategy has been gaining traction, particularly with its expansion into the premium non-alcoholic beverage sector.

Along with its investment in Fever-Tree, Molson Coors is set to launch Naked Life, Australia’s top non-alcoholic ready-to-drink cocktail, to U.S. consumers this spring.

Recently, U.S. Surgeon General Murthy issued an advisory warning alcohol consumption could raise cancer risk.

Price Action: TAP shares closed higher by 0.09% at $54.95 on Wednesday.

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This article Molson Coors Takes 8.5% Ownership Stake In Fever-Tree To Stir Up US Mixer Game: Details originally appeared on Benzinga.com

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