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Diageo and The Vita Coco Company Collaborate for Premium Canned Cocktail Line
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Diageo and Vita Coco have teamed up to launch Vita Coco Spiked with Captain Morgan, a line of premium canned cocktails. This collaboration combines Captain Morgan's spiced rum with Vita Coco's coconut water. The cocktails will feature three flavors: Piña Colada, Strawberry Daiquiri, and Lime Mojito, each with 5% ABV and sold in 12oz cans for $14.99 per 4-pack. The launch comes as the U.S. market sees a 269% growth in rum-based cocktails, indicating strong consumer demand for convenient, quality beverages.
Positive
Collaboration with Vita Coco enhances Diageo's ready-to-drink portfolio.
The product is positioned in a rapidly growing market segment, with rum cocktails growing at 269%.
Three appealing flavors cater to consumer preferences for tropical cocktails.
Negative
None.
‘Vita Coco Spiked with Captain Morgan’ to bring adult consumers convenient ways to enjoy delicious tropical drinks, powered by two category-leading brands in the fast-growing ready-to-drink space
NEW YORK--(BUSINESS WIRE)--
Diageo, a global leader in beverage alcohol, and The Vita Coco Company, a leading high-growth platform of non-alcoholic beverage brands, today announced their collaboration to launch a line of premium canned cocktails crafted with a delicious blend of Captain Morgan rum and refreshing-tasting Vita Coco coconut water. With Captain Morgan having the #1 selling spiced rum brand1 and Vita Coco as the #1 selling coconut water2, this relationship brings together two category-leading brands.
(Photo: Business Wire)
“Cocktail drinkers are looking for convenient ways to enjoy high quality classic tropical drinks, especially rum-based ones,” said Debra Crew, President, Diageo North America. “As we continue expanding our ready-to-drink portfolio, we consider ways to elevate the category, and it just made sense to marry together two premium brands that are loved by consumers around the world.”
In the United States, beloved rum-based cocktails are growing at 269%3, with widely recognizable piña coladas, daiquiris, and mojitos leading as the most dynamic cocktail types and growing at a faster rate than the entire spirits-based ready-to-drink category.4
“Consumers in tropical regions have been enjoying coconut water as a great-tasting, high quality mixer in their cocktails for generations,” said Mike Kirban, Executive Chairman and Co-Founder, The Vita Coco Company. “Now that coconut water is becoming a household staple across the United States, we wanted to make creating a delicious cocktail a few steps easier. We're so excited to partner with Diageo to offer some great, ready-to-drink options featuring the best of both worlds: Vita Coco and Captain Morgan."
Called Vita Coco Spiked with Captain Morgan, the spirits-based line will be available in three delicious offerings, all starting with a perfectly balanced blend of iconic Captain Morgan Caribbean white rum and Vita Coco’s refreshing-tasting coconut water:
Piña Colada – finished with the flavor of fresh ripe pineapple, creamy coconut and dark rum notes
Strawberry Daiquiri – finished with the flavor of fresh picked strawberries, ripe juicy lime and fruity rum notes
Lime Mojito – finished with the flavor of fresh muddled garden mint, ripe juicy lime, and a touch of simple syrup
Vita Coco Spiked with Captain Morgan cocktails will be 5% ABV and sold in 12oz cans for a suggested retail price of $14.99 per 4-pack. The line is expected to hit shelves in early 2023 and will be available across the United States wherever spirits-based ready-to-drink beverages are sold. All cans of Vita Coco Spiked with Captain Morgan will feature clear symbols clarifying that they are only to be enjoyed by consumers who are of legal drinking age. Diageo will produce, distribute and market Vita Coco Spiked with Captain Morgan products.
About Diageo North America
Diageo is a global leader in beverage alcohol with an outstanding collection of brands including Johnnie Walker, Crown Royal, Bulleit and Buchanan's whiskies, Smirnoff, Cîroc and Ketel One vodkas, Casamigos, DeLeon and Don Julio tequilas, Captain Morgan, Baileys, Tanqueray and Guinness.
Diageo is listed on both the London Stock Exchange (LSE: DGE) and New York Stock Exchange (NYSE: DEO) and its their products are sold in more than 180 countries around the world. For more information about Diageo, our people, brands, and performance, visit www.diageo.com. Visit Diageo's global responsible drinking resource, www.DRINKiQ.com, for information, initiatives, and ways to share best practice. Follow at Twitter and Instagram for news and information about Diageo North America: @Diageo_NA.
About The Vita Coco Company
The Vita Coco Company, Inc. (NASDAQ: COCO) was co-founded in 2004 by Michael Kirban and Ira Liran. Pioneers in the functional beverage category, The Vita Coco Company’s brands include the leading coconut water, Vita Coco; clean energy drink, Runa; sustainable enhanced water, Ever & Ever; and protein-infused water, PWR LIFT. With its ability to harness the power of people and plants, and balance purpose and profit, The Vita Coco Company has created a modern beverage platform built for current and future generations.
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1 Nielsen Total US xAOC + Liquor Census and Convenience, L52W through 3/26/22 2 IRC Total US MULO+C 2022 YTD through 5/15/22 3 Nielsen Total US xAOC + Liquor L52W through 2/5/22 4 Nielsen Total US xAOC + Liquor L52W through 2/5/22
