Coca-Cola plans energy drinks under namesake brand
(Reuters) - Coca-Cola Co (KO.N) said on Thursday it plans to launch two energy drinks under its namesake brand, its latest move to diversify away from sugary sodas.
Coca-Cola, in an emailed statement, declined to provide a timeline for the launch of the drinks, to be named “Coca-Cola Energy” and “Coca-Cola Energy No Sugar.”
The beverages would likely have caffeine from naturally-derived sources and guarana extract, Coke said.
Coke is currently in arbitration with energy drinks maker Monster Beverage (MNST.O), in which it is the top shareholder, over the launch of the drinks, which Monster says could violate an agreement between the companies.
Monster shares fell 10 percent on Thursday morning after news of the arbitration with Coke.
“We have submitted the difference in interpretation to an arbitration panel for resolution, which is the mechanism agreed by the Coca-Cola Company and Monster in the original agreements,” a Coca-Cola spokesperson said.
Reporting by Aishwarya Venugopal in Bengaluru; Editing by Sai Sachin Ravikumar
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.  |