Molson Coors has acquired a majority stake in energy drink brand ZOA in a $53 million cash transaction, expanding its growing non-alcoholic beyond beer portfolio and adding to rising M&A interest across the energy space. The deal, announced this morning during Molson Coors’ Q3 earnings call, closed last month. The transaction will be recorded as a business combination.
“We believe ZOA is well-positioned, particularly as it plays in the better-for-you segment that is outpacing energy category growth,” said Gavin Hattersley, CEO of Molson Coors, speaking on a conference call this morning. “With the support of its co-founder, Dwayne ‘The Rock’ Johnson, we have built a strong foundation for ZOA over the past three years, and it’s time to pursue the next stage of growth and scale. Taking this increased stake allows us to lead the entirety of the brand’s marketing, retail and direct-to-consumer sales development as we drive brand awareness and distribution, leveraging the strength of our network.
” At its in 2021, ZOA was expected to drive Molson Coors’ “Beyond Beer” ambitions outside alcoholic drinks. Leveraging the of actor/entrepreneur Dwayne “The Rock” Johnson – a co-founder alongside his business partner Dany Garcia, fitness coach Dave Rienzi and Juggernaut Capital Partners managing partner John Shulman – ZOA quickly a presence in the highly competitive energy category, stating its intentions with a splashy . The energy brand’s retail business .