CHICAGO--(BUSINESS WIRE)--Sep 11, 2023--
Molson Coors Beverage Company ("MCBC" or "Molson Coors") (NYSE: TAP, TAP.A) has reached an agreement to expand its partnership with ZOA Energy, a leading energy drink brand co-founded by Dwayne “The Rock” Johnson, Dany Garcia, Dave Rienzi and John Shulman. Molson Coors will strengthen its investment in ZOA as it furthers a push that began in 2019 to expand beyond its beer roots by becoming a total beverage company.
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With Molson Coors as a partner, ZOA will leverage the investment to increase media and marketing to drive incremental sales and expand distribution to international markets. Molson Coors will continue to be ZOA’s exclusive distribution partner and will assume a presence on its board as part of the agreement.
Molson Coors and ZOA first struck a partnership with the launch of the brand in 2021, and today, ZOA is available at more than 42,000 retail locations and more than 160,000 points of distribution across the U.S. and Canada.
“This investment is another meaningful step for Molson Coors and our transformation into a total-beverage company,” said Chief Commercial Officer, Michelle St. Jacques. “ZOA is an incredible brand in a growing category, so we’re fueling it with the right resources to scale and accelerate its results to become a bigger player in the energy space.”
The partnership comes on the heels of Molson Coors’ recent acquisition of Blue Run Spirits, which also complements the company’s Beyond Beer strategy as its portfolio expands to include an array of powerhouse brands in growing categories and new routes to market.
ZOA reported more than $100 million in sales in 2022 and 138% year-over-year growth. With Molson Coors’ expanded minority stake, ZOA will be positioned for further – and aggressive – growth across its retail and direct-to-consumer business. By way of Molson Coors’ expanded stake, ZOA plans to double its media investment in 2024.
“We founded ZOA Energy to deliver the best quality energy drink formulations to the marketplace. Through innovation and commitment, we’ve created a range of high-quality products that both fuel the daily lives of our customers and taste great,” said Dwayne “The Rock” Johnson. “With Molson Coors, a trusted partner that shares our passion for beverages, we can further deliver on that promise to an even wider audience.”
ZOA is already in the midst of a big 2023 that includes product innovation, fresh new flavors and an eye-catching new can design. ZOA recently added two new flavors to its lineup, including Strawberry Watermelon, and Cherry Limeade.
Paired with its redesign, ZOA recently unveiled its “Fuel Something Bigger,” initiative, where it will more than double its marketing investment, focusing on this new campaign and shopper marketing efforts through a variety of channels including digital, out-of-home, and paid social media.
“The entire ZOA family couldn’t be more thrilled with the expanded Molson Coors relationship and the many opportunities for growth this collaboration creates,” Johnson added. “We’re grateful to play a pivotal role in Molson Coors’ investment into their Beyond Beer growth and most importantly, playing a role in the wellness journeys of our loyal and growing consumers as we continue crafting drinks that help them show up as their best selves.”
“We’ve been building our beyond beer portfolio steadily for years, and it’s paying off,” St. Jacques added. “We think ZOA is poised to be the next big energy drink brand, and it’s a great example of investing in a brand that’s disrupting a growing category.”
ABOUT MOLSON COORS BEVERAGE COMPANY
For more than two centuries, Molson Coors has brewed beverages that unite people for all life's moments. From Coors Light, Miller Lite, Molson Canadian, Carling, Madrí Excepcional and Staropramen to Coors Banquet, Blue Moon Belgian White, Leinenkugel's Summer Shandy, Vizzy Hard Seltzer, Topo Chico Hard Seltzer, Simply Spiked Lemonade, ZOA Energy, Blue Run Spirits, Creemore Springs and more, Molson Coors produces some of the most beloved and iconic brands ever made. While the company's history is rooted in beer, Molson Coors offers a modern portfolio that expands beyond the beer aisle with energy drinks, bottled spirits, ready-to-drink cocktails, cider and more. To learn more about Molson Coors Beverage Company, visit molsoncoors.com.
ABOUT ZOA ENERGY
ZOA Energy is here to activate the world’s potential: giving people the fuel they need to show up as their best selves. Developed by strength and conditioning coach, Dave Rienzi; global icon and businessman, Dwayne Johnson; global entrepreneur and chairwoman, Dany Garcia; and entrepreneur and investor, John Shulman, ZOA is taking the category to new heights. The ZOA portfolio features both better-for-you energy drinks and a pre-workout supplement––all of which are made with high-quality ingredients, natural flavors and colors, and natural caffeine from green tea and green coffee for clean energy. For more information, please visit ZOAEnergy.com. Follow us on Twitter, Instagram and Facebook.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230911884398/en/
CONTACT: Rachel Dickens
rachel.dickens@molsoncoors.com
KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS
INDUSTRY KEYWORD: RETAIL CONVENIENCE STORE RESTAURANT/BAR OTHER RETAIL WINE & SPIRITS FOOD/BEVERAGE
SOURCE: Molson Coors Beverage Company
Copyright Business Wire 2023.
PUB: 09/11/2023 07:45 AM/DISC: 09/11/2023 07:46 AM
http://www.businesswire.com/news/home/20230911884398/en
