Coca-Cola has revealed plans to launch a range of energy drinks for the first time on its own brand name as it intensifies efforts to move away from its mainstay sugary drinks to start health-focused drinks.
The company said it was working on plans to launch new drinks which would be branded “Coca-Cola Energy” and “Coca-Cola Energy No Sugar” and made with naturally-derived caffeine and guarana extract. The company has, however, not said when the drinks would become available in the market.
What is the fate of Monster Energy drink
Recall that in 2015 Coca-Cola announced a strategic partnership related to an equity investment, business transfers and expanded distribution in the global energy drink category. As a result of the transaction, The Coca-Cola Company currently owns an approximate 16.7% stake in Monster.
However, the partnership has since turned rocky with Coke currently in arbitration with Monster Beverage over the launch of the Coke energy drinks, as it would put it in direct competition with Monster and violate their initial 2015 agreement.
According to Coca-Cola spokesperson,
“We have submitted the difference in interpretation to an arbitration panel for resolution, which is the mechanism agreed by the Coca-Cola Co and Monster in the original agreements.”
The soft drink company recently announced that its volumes in Nigeria saw some significant growth in the third quarter of 2018. In its latest trading update, it noted that emerging markets volumes increased by 4.1%, with good contributions from all markets including Nigeria and Russia. According to the report, in Nigeria, volume grew by mid-single digits, with double-digit volume growth in Water and Juice, offset partly by modest declines in Sparkling.
The Coca-Cola Company is headquartered in Atlanta, Georgia, but incorporated in Wilmington, Delaware is an American multinational beverage corporation, manufacturer, retailer, and marketer of non-alcoholic beverage concentrates and syrups.