COKE BUYS INTO MONSTER ENERGY DRINKS: at least this news tells us TBEV is in a HOT space if they can ever get a product out the door! LOL! Here's a repost. To read it yourself read it under the Monster headlines...
Coca-Cola Company (NYSE: KO) and Monster Beverage (NASDAQ: MNST) announced a long-term strategic partnership after Thursday's market close.
As part of the deal, Coca-Cola will purchase a 16.7 percent equity stake in Monster and will make Monster its sole play in the energy drink space.
Coca-Cola will have two directors on Monster's Board of Directors and expects to account for the investment under the equity accounting method.
" 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 chief executive officer of The Coca-Cola Company . "Our equity investment in Monster is a capital efficient way to bolster our participation in the fast-growing and attractive global energy drinks category."
Rodney C. Sacks , chairman and CEO of Monster, commented, "We gain enhanced access to The Coca-Cola Company's distribution system, the most powerful and extensive system in the world. At the same time, we become The Coca-Cola Company's exclusive energy play, with a robust portfolio led by our Monster Energy line and The Coca-Cola Company's energy brands."
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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