CHICAGO — Molson Coors Beverage Co. has increased its minority stake in ZOA Energy, a beverage brand co-founded by actor and former professional wrestler Dwayne “The Rock” Johnson. Financial terms were not disclosed.
The two companies initially partnered two years ago following the energy drink brand’s launch. Molson Coors will continue to be the exclusive distribution partner for ZOA Energy and will assume a presence on its board under the expanded agreement. ZOA plans to increase media and marketing to drive sales and broaden distribution to international markets. Currently, the brand is available at more than 42,000 retail locations and more than 160,000 points of distribution across the United States and Canada, according to the company.
ZOA Energy drinks contain caffeine from unroasted green coffee and green tea extract, plus vitamins, electrolytes, amino acids and camu camu extract. The formulations have zero added sugar and are sweetened with sucralose and acesulfame potassium.
“We founded ZOA Energy to deliver the best quality energy drink formulations to the marketplace,” Mr. Johnson said. “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. With Molson Coors, a trusted partner that shares our passion for beverages, we can further deliver on that promise to an even wider audience.”
Other co-founders of ZOA Energy are Dany Garcia, Dave Rienzi and John Shulman. ZOA had more than $100 million in sales in 2022. Over the past year, the brand has added new products and unveiled a redesigned can. Next year, ZOA Energy expects to double its marketing investment, with a focus on digital, out-of-home and paid social media channels.
Molson Coors, the brewer of Coors Light, Miller Lite, Blue Moon Belgian White and others, four years ago began efforts to extend its portfolio beyond beer and recently acquired Blue Run Spirits, a premium whiskey distiller. The company also has collaborated with Coca-Cola Co., Atlanta, to produce Topo Chico Hard Seltzer and Simply Spiked alcohol beverages.
“This investment is another meaningful step for Molson Coors and our transformation into a total-beverage company,” said Michelle St. Jacques, chief commercial officer of Molson Coors. “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.”Enjoying this content? Learn about more disruptive startups on the Food Entrepreneur page.
