The Coca-Cola Company is making its move into the fast-growing cold brew coffee category.
Coke revealed the news Thursday in a press release announcing that new lines of ready-to-drink tea lattes and cold brew coffees will launch in the first quarter of 2017 under the company’s Gold Peak brand.
“Gold Peak has a passionate following of fans who love the ‘taste that brings you home,” wrote Geoff Henry, Coke’s vice president of tea and coffee. “We are excited to introduce new ways for people to enjoy the brand. Our new tea lattes and cold-brew coffees will feature our signature high quality ingredients and distinct taste for a delicious pick-me-up anytime of the day.”
Until now Coke’s participation in the ready-to-drink coffee has been with illy issimo, a joint venture launched with international coffee giant illycaffe S.p.A. The brand is managed by Coke’s Venturing & Emerging Brands unit and does not currently have a cold brew coffee offering.
In 2014 Gold Peak joined Coke’s list of billion-dollar brands, just eight years after coming to market. At the time Henry said the brand “has one of the best conversion rates in the category, which means once a consumer tries it, they come back and buy it again.”
Coke’s chief rivals PepsiCo and Dr Pepper Snapple Group have both made moves into cold brew coffee. Pepsi leaped into the space by way of its North American Coffee Partnership with Starbucks, which debuted its own RTD cold brew earlier this summer. In April canned cold brew coffee company High Brew announced a new distribution partnership with Dr Pepper Snapple.
The company’s press release can be found below:
ATLANTA–(BUSINESS WIRE)–Gold Peak, known for its premium line of iced teas and coffee products that deliver home-brewed taste, announced today that it will introduce new ready-to-drink tea lattes and coffees in the first quarter of 2017. The RTD tea latte segment is considered an emerging beverage category, while RTD coffees have enjoyed very strong growth over the past five years.
Gold Peak will join Illy in Coca-Cola’s burgeoning RTD coffee portfolio in the United States. Together, they will be part of a multi-brand strategy to give consumers a variety of great-tasting options, and help the company become a major player in a beverage category that continues to rise in popularity.
“Gold Peak has a passionate following of fans who love the ‘taste that brings you home,’” said Geoff Henry, Vice President Tea & Coffee for Coca-Cola. “We are excited to introduce new ways for people to enjoy the brand. Our new tea lattes and cold brew iced coffees will feature our signature high quality ingredients and distinct taste for a delicious pick-me-up anytime of the day.”
Gold Peak’s RTD teas and coffees will feature real milk and sugar in an array of tasty flavors.
A shining star in The Coca-Cola Company’s ever broadening portfolio of popular beverages, Gold Peak is one of the fastest-growing national iced tea brands. In 2014, it eclipsed $1 billion in annual sales for the first time, becoming the 20th Coca-Cola brand to do so.
About The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is the world’s largest beverage company, refreshing consumers with more than 500 sparkling and still brands and more than 3,800 beverage choices. Led by Coca-Cola, one of the world’s most valuable and recognizable brands, our company’s portfolio features 20 billion-dollar brands, 18 of which are available in reduced-, low- or no-calorie options. Our billion-dollar brands include Diet Coke, Coca-Cola Zero, Fanta, Sprite, Dasani, vitaminwater, Powerade, Minute Maid, Simply, Del Valle, Georgia and Gold Peak. Through the world’s largest beverage distribution system, we are the No. 1 provider of both sparkling and still beverages. More than 1.9 billion servings of our beverages are enjoyed by consumers in more than 200 countries each day. With an enduring commitment to building sustainable communities, our company is focused on initiatives that reduce our environmental footprint, create a safe, inclusive work environment for our associates, and enhance the economic development of the communities where we operate. Together with our bottling partners, we rank among the world’s top 10 private employers with more than 700,000 system associates. For more information, visit Coca-Cola Journey atwww.coca-colacompany.com, follow us on Twitter at twitter.com/CocaColaCo, visit our blog, Coca-Cola Unbottled, atwww.coca-colablog.com or find us on LinkedIn at www.linkedin.com/company/the-coca-cola-company.