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Molson Coors Acquires Majority Stake in The Rock's ZOA Energy for $53 Million

Nov 7, 2024, 02:10 PM

Molson Coors Beverage Company has taken a majority stake in ZOA Energy, an energy drink brand co-founded by Dwayne 'The Rock' Johnson. The acquisition, valued at $53 million, increases Molson Coors' interest in the brand to 51%. This move is seen as a significant development in the consumer packaged goods (CPG) sector, signaling potential bullish trends for future mergers and acquisitions (M&A). Some industry observers suggest that Molson Coors might benefit from focusing on acquiring booze companies instead, given the crowded energy drink market. The transaction has garnered mixed reactions, with some suggesting that the valuation might be lower than expected.