Global Brands is to produce and distribute the Reef RTD range after securing a licensing agreement with owner Molson Coors.

Sales of Reef crashed 56.8% year-on-year to just £157,000 following a decline over a number of years [SymphonyIRI 52w/e 18 February 2012], but Molson Coors MD Chris McDonough said VK owner Global Brands could help the brand realise its full potential.

“Their extensive experience in the RTD market makes them ideally placed,” he added.

Global Brands said there was demand for great-tasting, differentiated drinks. “We strongly believe in the category and the brand,” said Global Brands marketing director Simon Green.