Monster may energize its portfolio with alcohol and cannabis

Dive Brief:

  • Monster Beverage is looking to expand its portfolio into different categories outside of energy drinks — including alcoholic drinks and nonalcoholic beverages — the company’s top executive said at a recent shareholders meeting reported by The Wall Street Journal.
  • “We do have an appetite to look at alternative brands and to develop more beverages in the nonalcoholic… as well as the alcoholic market,” Monster’s CEO Rodney Sacks said at the meeting, the newspaper reported. 
  • The energy drink giant also said it is open to exploring cannabis-infused drinks if they becomes federally legal in the U.S., analysts who attended the private meeting told the Journal. 

Dive Insight:

It seems like Monster is willing to jump into any category to stay ahead. But this news shouldn’t come as a surprise, given all the challenges it has faced recently. Diversifying its portfolio with beverages including alcohol and possibly cannabis is a forward-thinking step as Monster faces

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