Coca-Cola Co. said it plans to launch a boozy version of its Topo Chico sparkling water in the U.S. next year, plunging the soda giant into the market for alcoholic beverages.
With the move, the company joins the fray of beverage giants vying for market share as consumers flock to hard seltzer for its minimal calories and lower alcohol level. Americans spent $3 billion on hard seltzer in U.S. retail stores in the 52 weeks ended July 11, up 241% from a year earlier, according to Bump Williams Consulting Co.
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