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7/1, 4:23 PM (Source: TeleTrader)
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Coca-Cola gets go-ahead to sell rival Monster energy drink

The Coca-Cola Company won an arbitration claim against Monster Beverage Corp. that allows it to sell its own energy drink, media reported on Monday.

Monster accused Coca-Cola of violating the terms of a non-compete agreement they signed in 2015 after the latter launched its Coca-Cola Energy drink in April, which contains similar ingredients to other energy drinks but lacks the stimulant taurine that is often found in them. The agreement barred Coca-Cola from distributing competitive energy drinks but included an exception for products marketed under the Coca-Cola brand.

The two companies filed their dispute with the American Arbitration Association in October last year after they were unable to come to a consensus on the matter. The arbitrators subsequently ruled that Coca-Cola will be able to market the energy drink both in areas where it has already been launched and in additional global markets. Coca-Cola said that it would continue its partnership with Monster, in which it holds a 16.7% stake.

Breaking the News / DZ