Monster looks to alcohol for growth

Monster Beverage Corp., a leader in energy drinks, is considering an expansion into alcohol, according to The Wall Street Journal.

In addition to alcoholic beverages, Monster is keeping a close on the emerging cannabis beverage market and looking at hard seltzers, as well as nonalcoholic drinks

“We do have an appetite to look at alternative brands and to develop more beverages in the nonalcoholic ... as well as the alcoholic market,” CEO Rodney Sacks told investors on June 6.

Coca-Cola owns an 18.5% stake in Monster and distributes the beverage. As a result, The Wall Street Journal reported alcoholic beverages could come first due to the temporary non-compete clause the company has with Coca-Cola.