With company, the French drink (4)
I believe the answer is:
cola
'drink' is the definition.
(cola is a kind of drink)
'with company the french' is the wordplay.
'with' means one lot of letters go next to another.
'company' becomes 'co' (abbreviation).
'the french' becomes 'la' (**).
'co'+'la' is 'COLA'.
(Other definitions for cola that I've seen before include "Carbonated soft drink" , "Cold drink" , "Fizzy drink" , "pop" .)