(Forbes) - Coca-Cola CEO James Quincey has not ruled out the company getting into the alcohol industry.

Quincey dropped that mini bombshell to CNBC’s Squawk on the Street headquartered on the floor of the New York Stock Exchange. His comment was in response to Wells Fargo analyst Bonnie Herzog’s brief speculation concerning Coca-Cola’s potential future growth.

Quincey said philosophically he believes in a never-say-never approach . But he also said Coca-Cola is so strong it makes little sense for the company to jump into alcohol right now, elaborating that it makes more sense to stay within a company’s capabilities, not to mention its corporate culture and systems.

Perhaps Quincey is knowledgeable about the last time Coca-Cola made a major foray into the wine business, a move that started out strong but lasted only about five years.

The move took place in the late 1970s, following the now famous 1976 Paris wine tasting that pitted France against Calfornia.  Thanks to new interest in American wine from Baby Boomers, it was a period of massive wine industry growth, and many large companies wanted in. By the time Coca-Cola decided to get in the game the venerable California wine companies had already been taken.