Boston Beer Company is making a new soda with PepsiCo

Step aside hard lager — Boston Beer Company is adding another soda to its portfolio, which is a spiked version of Mountain Dew.

On Tuesday, the company announced its partnership with PepsiCo to deliver HARD MTN DEW, with 5 percent alcohol. The boozy beverage will be available in three flavors including 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, said Dave Burwick, Boston Beer's CEO, in the release. He called Mountain Dew a one-of-a kind, multi-billion dollar brand that will deliver the excitement and refreshment drinkers know and love.

And while Mountain Dew is banking on the new spin paying off, Pepsico seems to be banking on the old spinning 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, said Kirk Tanner, PepsiCo Beverages North America CEO, in the release.

The beverage giant said it would sell 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, distribute, and advertise the product.

The Boston Beer Company has been dabbling in other markets with other brands. In its DogFish Head Brewery, this summer its Tipsy Scoop was able to make Hazy-O IPA Ice Cream with local ice cream maker Tipsy Cowland based in New York City. The ice cream contains the Dogfish Head Hazy-O IPA and contains alcohol 5%.

Year-to-date, shares of the Boston Beer Company are up more than 33 percent after a missed earnings reporter in the last quarter. In contrast, shares of PepsiCo were up 4 percent this year after the company sold off its juice brands like Tropicana and Naked, among other.