Molson Coors Beverage (TAP) said Thursday it is partnering with UK-based Fevertree Drinks to expand its non-alcoholic beverages and mixers portfolio in the US.
Under the terms of the partnership, Molson Coors said it has agreed to acquire an 8.5% stake in Fevertree Drinks, making it the company's second-largest shareholder.
Beginning Saturday, Molson Coors said it will assume exclusive US commercialization rights for Fever-Tree tonics, ginger beers, and cocktail mixers and will oversee US production, marketing, sales, and distribution of the brand.
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