Monster Beverage Corp (MNST)

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Monster Energy accuses Red Bull of targeting it with anti-competitive tactics
By: Investing.com | March 29, 2023

BRUSSELS (Reuters) - Energy drinks maker Monster Beverage Corp (NASDAQ:MNST)'s Monster Energy has accused Red Bull of targeting it with anti-competitive practices after Red Bull was raided by European Union antitrust regulators last week.

The European Commission, which acts as the competition enforcer in the 27-country bloc, said last week it had raided an energy drinks company on suspicion of taking part in a cartel and also abusing its dominance.

"Monster believes it has been the subject of Red Bull's anti-competitive tactics," the company told Reuters in an email.

"We are therefore not surprised by the Commission's decision to commence an investigation into Red Bull in multiple Member States under Articles 101 and 102. Monster Energy supports the Commission's inquiries."

Red Bull confirmed the EU raids, while declining to comment on Monster Energy's allegations.

"Officials of the EU Commission visited our premises on Monday 20 March. We will cooperate with them in any matters that may concern them. Any such matter is for the EU Commission and any requests for further information should be directed to them," a Red Bull spokesperson told Reuters.

The Commission declined to comment.

"We cannot add anything beyond our press release," a spokesperson said.

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