The Coca-Cola Company and Monster Beverage Corporation Announce Decision by Arbitration Panel
July 01 2019 - 8:30AM
Business Wire
An arbitration tribunal of the American Arbitration Association
has informed The Coca-Cola Company and Monster Beverage Corporation
that the introduction and sale of Coca-Cola Energy is allowed under
the terms of a contract between the companies.
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The companies respect the arbitrators’ decision and appreciate
that the dispute was resolved amicably. While there was a
disagreement between Coca-Cola and Monster over contractual
language, the companies value their relationship and look forward
to their continued partnership.
Coca-Cola and Monster mutually agreed to submit their dispute to
arbitration before the American Arbitration Association in October
2018. The arbitrators ruled June 28 that Coca-Cola Energy products
fall within an exception to a non-compete provision relating to
beverages marketed or positioned under the Coca-Cola brand.
Under the ruling, Coca-Cola can continue to sell and distribute
Coca-Cola Energy, including in markets where it has already been
launched. Coca-Cola is also free to launch the product in
additional markets globally.
About The Coca-Cola
Company
The Coca-Cola Company (NYSE: KO) is a total beverage company,
offering over 500 brands in more than 200 countries and
territories. In addition to the company’s Coca-Cola brands, our
portfolio includes some of the world’s most valuable beverage
brands, such as AdeS plant-based beverages, Ayataka green tea,
Costa coffee, Dasani waters, Del Valle juices and nectars, Fanta,
Georgia coffee, Gold Peak teas and coffees, Honest Tea, innocent
smoothies and juices, Minute Maid juices, Powerade sports drinks,
Simply juices, smartwater, Sprite, vitaminwater and ZICO coconut
water. We’re constantly transforming our portfolio, from reducing
sugar in our drinks to bringing innovative new products to market.
We’re also working to reduce our environmental impact by
replenishing water and promoting recycling. With our bottling
partners, we employ more than 700,000 people, helping bring
economic opportunity to local communities worldwide. Learn more at
Coca-Cola Journey at www.coca-colacompany.com and follow us on
Twitter, Instagram, Facebook and LinkedIn.
The fairlife® brand is owned by fairlife LLC, our joint venture
with Select Milk Producers Inc. Products from fairlife are
distributed by our company and certain of our bottling
partners.
About Monster Beverage
Corporation
Based in Corona, California, Monster Beverage Corporation
(NASDAQ: MNST) is a holding company and conducts no operating
business except through its consolidated subsidiaries. The
Company’s subsidiaries develop and market energy drinks, including
Monster Energy® energy drinks, Monster Energy Ultra® energy drinks,
Monster MAXX® maximum strength energy drinks, Java Monster®
non-carbonated coffee + energy drinks, Espresso Monster®
non-carbonated espresso + energy drinks, Caffé Monster®
noncarbonated energy coffee drinks, Monster Rehab® non-carbonated
energy drinks, Muscle Monster® energy shakes, Monster Hydro® energy
drinks, Reign Total Body FuelTM high performance energy drinks,
NOS® energy drinks, Full Throttle® energy drinks, Burn® energy
drinks, Samurai® energy drinks, Relentless® energy drinks, Mother®
energy drinks, Power Play® energy drinks, BU® energy drinks, Nalu®
energy drinks, BPM® energy drinks, Gladiator® energy drinks, Ultra
Energy® energy drinks, Mutant® energy drinks and Predator® energy
drinks. For more information, visit www.monsterbevcorp.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190701005250/en/
Coca-Cola Investors and
Analysts: Tim Leveridge, koinvestorrelations@coca-cola.com
Media: Scott Leith,
sleith@coca-cola.com Monster Investors, Analysts and Media: Roger S. Pondel /
Judy Lin Sfetcu, PondelWilkinson Inc. (310) 279-5980
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