Step aside hard seltzer — Boston Beer Company (SAM) is adding another drink to its portfolio, a spiked version of Mountain Dew.

On Tuesday, the company announced its partnership with PepsiCo (PEP) to deliver HARD MTN DEW, with 5 percent alcohol. The boozy beverage will come in three flavors: original, black cherry and watermelon, and is expected to hit shelves in early 2022. 

"We know that adult drinkers' tastes are evolving, and they are looking for new and exciting flavorful beverages," Dave Burwick, Boston Beer's CEO, said in the release. He called Mountain Dew "a one of kind multi-billion dollar brand [that] will deliver the excitement and refreshment that drinkers know and love." 

Meanwhile, Pepsico, taking a chance with Mountain Dew's 80-year history, appears to be banking on the new spin paying off.

"The Boston Beer Company partnership combines two recognized leaders in our respective industries to address the changing tastes of drinkers and we are thrilled at the opportunity to create HARD MTN DEW that maintains the bold, citrus flavor fans know and expect," Kirk Tanner, PepsiCo Beverages North America CEO, said in the release. 

The beverage giant said it will market the drink to "adults of legal age and merchandized consistently with other alcohol beverages," in addition it plans to set up a "new entity to sell, deliver, and merchandise the product."

The Boston Beer Company has been dabbling in other markets with other brands. This summer, its DogFish Head Brewery introduced Hazy-O IPA Ice Cream with artisanal ice cream maker Tipsy Scoop, based in New York City. The ice cream includes the Dogfish Head Hazy-O IPA, and contains 5% alcohol. 

Year-to-date, shares of the Boston Beer Company are down more than 33 percent following a missed earnings reporter last quarter. Meanwhile, shares of PepsiCo are up 4 percent this year after the company sold off its juice brands like Tropicana, Naked, among others.

Brooke DiPalma is a reporter for Yahoo Finance. Follow her on Twitter at @BrookeDiPalma or email her at [email protected] Check out her latest:

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