Exclusive news and research on the wine, spirits and beer business

Report: Monster Beverage, Backed By Coca-Cola, Eyes Merger With Constellation

November 22, 2021

Energy drinks maker Monster Beverage, which counts Coca-Cola as a major shareholder, is exploring a potential tie-up with Constellation Brands, Bloomberg reported late last night, citing people familiar with the matter. Later, Reuters also cited an unnamed source as saying Monster was considering a merger with Constellation, which hasn’t commented on the reports.

Monster, known for its namesake energy drink, has a market cap of around $47 billion, compared with Constellation’s $44 billion. Monster had revenues of $4.6 billion last year, while Constellation’s sales topped $8.6 billion in its fiscal year through February. This isn’t the first time in recent years that Constellation has been linked to a major potential merger. Back in 2017, the drinks giant reportedly eyed up an acquisition of Brown-Forman, although the deal never came to pass. Later the same year, however, Constellation announced its first investment in Canadian cannabis company Canopy Growth, in which it now holds close to a 40% stake.—Daniel Marsteller

Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.

Tagged : , ,

Get your first look at 2020 data and 2021 projections for the wine and spirits industries. Order your 2021 Impact Databank Reports. Click here.

Previous :  Next :