Cheers To Expansion! Molson Coors Doubles Down On 'The Rock' Dwayne Johnson Co-Founded ZOA Energy

Molson Coors Beverage Company TAP has reached an agreement to expand its partnership with ZOA Energy. The financial details of the investment were not disclosed. 

ZOA is an energy drink brand co-founded by Dwayne "The Rock" Johnson, Dany Garcia, Dave Rienzi and John Shulman. 

With Molson’s increased investment, ZOA will improve media and marketing to drive incremental sales and expand distribution to international markets. 

Molson Coors will continue to be ZOA's exclusive distribution partner and assume a presence on its board as part of the agreement.

The parties first struck a partnership with the launch of the brand in 2021. Today, ZOA is available at more than 42,000 retail locations and more than 160,000 points of distribution across the U.S. and Canada.

Also Read: Molson Coors Beverage Acquires Whiskey Producer Blue Run Spirits, Marking It First Spirits Acquisition

ZOA reported more than $100 million in sales in 2022 and 138% year-over-year growth.

By way of Molson Coors' expanded stake, ZOA plans to double its media investment in 2024.

Molson Coors Beverage held $960.9 million in cash and equivalents as of June 30, 2023.

The move is seen as a part of Molson’s 2019 plan to expand beyond its beer roots by becoming a total beverage company.

Price Action: TAP shares are trading higher by 2.04% at $64.94 on the last check Monday.