Coke denies reports of Monster Energy drinks buyout

Coca-Cola has denied reports that it is negotiating a takeover of energy-drink maker Monster Beverage Corp.

 

As the world’s largest beverage company, Coca-Cola already makes some energy drinks, but media reports have been claiming it wants an even bigger slice of the pie.

 

The Wall Street Journal reported earlier this week that Coke was in talks to buy Monster for $13 billion, to diversify its reach away from just traditional soft drinks, but the beverage giant has denied the reports.

 

"At this time, we are not in discussions to acquire the Monster Beverage Corporation,” Coca-Cola said in a statement on Monday.

 

"Coca-Cola has a distribution relationship with Monster in many markets, including the United States.

 

“Therefore, we are always in contact with Monster to maximize the value of our commercial arrangements.

 

"We continue to review the best ways to maximize the value of our relationship."

 

Formerly known as Hansen Natural Corp., Monster changed its name and its symbol in January.

 

The company is based in Corona, California, and produces Monster Energy brand drinks, Monster Energy Extra Strength Nitrous Technology brand drinks, Peace Tea iced teas, and Hansen's natural juice drinks, among others.

 

In its fourth quarter, Monster said its net income increased more than 31 per cent to $US64.5 million ($AU61.86 million).

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