Feel like you’ve been seeing Topo Chico everywhere these days?
You’re probably not wrong, according to executives at Coca-Cola, the beverage giant that now owns the rights to distribute the Mexican mineral water throughout the U.S.
Coca-Cola President and CEO James Quincey gave the brand a shout-out in the company’s quarterly earnings call with investors.
He said that Coke is “working to scale” the high-growth brand. Since Coca-Cola made the Topo Chico purchase in October, he said, it has boosted the water’s distribution in convenience stores by 25 percent.
In a news release tied to the financial report, Coca-Cola highlighted Topo Chico’s role in the soda-maker’s work to bulk up its healthier offerings, which executives said helped power the Atlanta-based corporation to growth.
The unit’s vice president overseeing emerging brands and incubation, Matt Hughes, said in a post on the site that Topo Chico was a way of building Coca-Cola’s premium sparkling water offerings as soda drinkers seek out healthier alternatives, spurring what observers have described as massive growth in the category.
Nationally, more than $2.3 billion worth of bottled sparkling water is sold every year, according to sales data from Chicago-based consumer market researcher Information Resources Inc.
Read more at Dallas News: https://www.dallasnews.com/business/business/2017/10/02/breaking-coca-cola-buy-texas-cult-favorite-sparkling-water-brand-topo-chico
SCREENCHOW 