- Molson Coors CEO Gavin Hattersley told CNBC’s Jim Cramer on Wednesday that the company is developing non-alcoholic offerings as consumers, particularly younger people, gravitate toward health and wellness.
- “We’re moving beyond beer, we’re moving into ‘non-alcoholic’ products, whether it’s energy drinks, whether it’s non-alcoholic beers,” Hattersley said.
Molson Coors CEO Gavin Hattersley told CNBC’s Jim Cramer on Wednesday that the company is investing in non-alcoholic offerings as consumers trend toward health and wellness.
Hattersley said some consumers — particularly younger people in their 20s — are focused on wellness, but that behavioral shift plays a role in the company’s strategy. Molson Coors is known for drinks such as Miller Lite, Blue Moon, Topo Chico Hard Seltzer and the eponymous Coors Lite.
“We’re moving beyond beer, we’re moving into ‘non-alcoholic’ products, whether it’s energy drinks, whether it’s non-alcoholic beers,” Hattersley said. He added that the company is launching a non-alcoholic version of Blue Moon in time for “Dry January.”
And according to Hattersley, Molson Coors brewers have managed to make the popular non-alcoholic beer taste very similar to real beer.
“If it tastes good, consumers will drink it,” he said. “I’m looking forward to launching this in December.”
Hattersley also said the company’s products are taking up more shelf space in stores than usual in the fall, and he expects that trend to continue into the spring.
“Not only are we getting thousands and thousands of new faucet handles, we’re also getting tens of thousands of additional square feet of retail space, and that’s one of the biggest winners for us as we prepare for next year to drive continued momentum,” he said.
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