Investors looking for a World Cup winner may want to look beyond the soccer field.

In a note published Tuesday, Bank of America said the tournament is likely to drive higher beer and soft-drink consumption across the U.S., creating a temporary but meaningful tailwind for beverage companies.

Among them, The Coca-Cola Company (NYSE:KO) appears best positioned to capitalize on the event.

“The tournament creates a unique stretch of repeated consumption occasions across bars, restaurants and homes,” BofA analyst Peter Galbo wrote in a report examining the impact of previous major sporting events on beverage demand.

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Looking Back To The 1994 Playbook

To estimate the potential impact of the 2026 tournament, BofA looked at the last World Cup hosted by the United States in 1994.

The bank found that beer shipments received a boost of roughly 0.8 million barrels during that tournament, equivalent to about 0.4% ...