Coca-Cola Has Bought Sparkling Mineral Water Brand Topo Chico

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Visit any bar in Austin, Texas and you’ll see several people opting to drink a cold bottle of Topo Chico with lime. The perfect amount of bubbles and crisp taste of the Mexican mineral water have made a Topo Chico a refreshing alternative to drinking alcohol, and the perfect way to rehydrate after a hot day. Now, Dallas News is reporting that Topo Chico has been bought out by none other than beverage giant Coca-Cola.

The Coca-Cola Company reportedly paid $220 million for the rights to Topo Chico, hoping to build up their sparkling water offerings. Matt Hughes, the vice president of Coca-Cola’s Venturing & Emerging Brands unit, said, “As we accelerate our evolution to a total beverage company, we’re investing in brands that are on trend. Topo Chico is a fast-growing brand with a lot of passion behind it and growth runway ahead.”

Texas Monthly writes that Texans are responsible for a whopping 70 percent of Topo Chico’s sales. They note that even though sparkling water drinkers in hip markets like Austin might not like to see the little brand getting bought out by a massive brand like Coca-Cola, the owner of Topo Chico’s American unit, Gerardo Galván said back in February that he wanted to expand the brand’s reach across the U.S. “This is a big brand. It’s going to be huge. And it’s just a matter of time,” he said.