Does this logo relate at all to the logo that has been established over 50 years? Or is it going to look completely new and different. In other words, tossing out all that brand recognition and starting over again with something new, as if it never existed?
You have some of the fundamentals right (it’s legible, would work at a small size, would work in one color, would work across a variety of mediums); however, the design isn’t particularly strong. Also, providing more of a brief would be helpful. Is this a soda brand, distributor, retailer? Who is the target market? What are you trying to achieve?