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Dive Brief:
Ready-to-drink cocktail company Canteen Spirits signed a distribution deal with Anheuser-Busch and received an undisclosed investment from its parent company AB InBev s investment and innovation arm ZX Ventures. Canteen Spirits will join Anheuser-Busch’s Beyond Beer portfolio, which launched in 2018 to capitalize on the growing seltzer, wine, spirits and malt-based beverages segment.
Canteen Spirits makes a vodka-based cocktail called Canteen with seven flavors, and a tequila-based drink called Cantina that has three flavors. The beverages have low carbs and ABVs, and are made with natural flavors and no sugar. They are currently sold nationwide.
Premium beverages and ready-to-drink cocktails have grown during the pandemic as consumers increased their at-home drinking. Demand for low alcohol beverages, increasing health consciousness and preference for premiumization and convenience are driving market growth.
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Covid-19 has brought more than its fair share of woes. Not least has been its deleterious effect on the environment. How? Well, it’s sent consumption of fizzy drinks from single-use cans and plastic bottles through the roof. And it’s derailed plans for the UK’s biggest-ever initiative to ensure drinks packaging is recycled, the deposit return scheme.
In short, it’s been a disaster for the Earth’s oceans – where the amount of plastic waste is expected to triple in the next 20 years, according to a paper published last July in the journal Science.
In 2020, shoppers took home 561.7 million more single-use cans of cola, lemonade, fruit carbonates and mixers than they did in 2019, bringing total sales to 2.9 billion cans. More than 710.4 million plastic pop bottles were taken home, a rise of 102.6 million [Kantar 52 w/e 27 December 2020].
The Catalina Island Museum will host an outdoor festivity on May 5
Cinco de Mayo suppers might very well be your every-night-of-the-year-if-possible suppers, which is understandable, since the festive foods of the festive occasion are such enduring staples. Download our mobile app for iOS or Android to get the latest breaking news and local stories.
But restaurants have a way of burnishing and bettering the beautiful bites we associate with the fifth day of May, making them even more marvelous in honor of the food-strong holiday.
While many traditional celebrations are cancelled in 2021, we can still find the margaritas, enchiladas, and guacamoles we love at the eateries we love, either by dining there or getting the deliciousness to go.
Operator
Good day, and welcome to the Molson Coors Beverage Company First Quarter Fiscal Year 2021 Earnings Conference Call. [Operator Instructions] Our speakers today are Gavin Hattersley, President and Chief Executive Officer; and Tracey Joubert, Chief Financial Officer.
With that, I ll hand it over to Greg Tierney, Vice President of FP&A and Investor Relations.
Greg Tierney
Vice President of FP&A and Investor relations
Thank you, operator, and hello everyone. Following prepared remarks from Gavin and Tracey, we will take your questions, please limit yourself to one question and if you have more than one question, please ask your most pressing question first and then reenter the queue to follow-up. If you have technical questions on the quarter, please pick them up with the IR team in the days, in the weeks that follow.