Coca-Cola plans energy drinks under namesake brand

Business

FILE PHOTO: Coca-Cola cartons are seen in a Casino supermarket in Mouans Sartoux, France, October 27, 2016. REUTERS/Eric Gaillard/File Photo

(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

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