The Coca-Cola Co. and Monster Beverage Corp. on Aug. 14 announced they have formed a long-term strategic partnership that is expected to accelerate growth for both companies in the fast-growing, global energy drink business.
co*ke will become Monster’s preferred distribution partner globally and Monster will become co*ke’s exclusive energy play
As part of the deal, Atlanta-based co*ke (NYSE: KO) will buy a 16.7 percent stake in California-based Monster Beverage. co*ke will also gain two directors on Monster's board.
The deal comes as co*ke looks for ways to add fizz to its business as Americans drink less soda. In May, co*ke increased its stake in home-beverage brewing system maker Keurig Green Mountain.
“The Coca-Cola Company continues to identify innovative approaches to partnerships that enable us to stay at the forefront of consumer trends in the beverage industry,” said Muhtar Kent, chairman and CEO, in a statement.
Read the full announcement here.
