The Coors Light manufacturer’s 8.5% stake in the nonalcoholic carbonated mixer, worth $89 million, further builds on its long-term strategy of increasing its exposure beyond beer.

Miller Lite brewer Molson Coors (TAP) says it will expand its U.S. soft drinks business through a strategic partnership with UK-based

Fever-Tree Drinks said it reached a long-term partnership with Molson Coors to boost growth in the U.S. and that it would launch a share buyback. The London-listed mixer-maker on Thursday said Molson Coors would acquire an 8.