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Molson Canadian, one of the leading brands of Molson Coors Brewing Company (TAP - Analyst Report), is expanding its product line with the introduction of a non-beer drink, Molson Canadian Cider. The Molson Canadian brand is an iconic beer brand in Canada. In addition, this is the first time that the brand has offered a non-beer alternative since 1786.

Molson Canadian Cider will be made from high quality Canadian apples. This clear drink with yellow and amber hues has the aroma of a freshly cut apple. It has a bold apple flavor, with a little sweetness and acidity of apple, giving a smooth refreshing taste. Molson Canadian Cider contains 5.0% alcohol by volume and is available in 6 X 341 ml bottles and 473 ml cans.

Besides Molson Coors Canadian, Molson Coors boasts a strong portfolio of well-established brands, including Coors Light, Carling and Staropramen, as well as craft and specialty beers like Blue Moon, Creemore Springs and Cobra.

Molson Coors has also grown its market share through innovation. The company introduced Rickard's Cardigan and Oakhouse seasonal brands in 2012 in the above-premium portfolio in Canada and also acquired the licenses for the Newcastle Brown Ale and Strongbow cider brands. The company also launched aluminum pint bottles for Coors Light and Molson Canadian in 2012. In the U.S., the company completed the re-launch of Miller64 and rolled out Leinenkugel's Lemon Berry Shandy and Batch 19 in 2012. The company through its Coors Light brand was able to grow market share in the U.S. and U.K. in 2012. Coors Light and Iced T market share also increased in Canada.

Molson Coors’ subsidiary Miller Coors plans many new launches in the above-premium category with its Redd's Apple Ale and Third Shift brands in 2013. It will also launch a new iconic Miller Lite bottle in 2013. We expect these brands to continue to add to market share in the coming years.

Molson Coors holds a Zacks Rank #3 (Hold). Other stocks in the beverage industry that are worth considering include Constellation Brands Inc (STZ - Analyst Report), Anheuser Busch Inbev (BUD - Snapshot Report), and Beam Inc . While Constellation holds a Zacks Rank #1 (Strong Buy), Anheuser and Beam carry a Zacks Rank #2 (Buy).

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