Monster Beverage Corp head offloads US$$1.8m in shares
Monster Beverage sold a minority stake to Coca-Cola in August
Monster Beverage Corp's CEO has sold company stock worth US$$1.8m two months after the share price jumped 30%.
Rodney Sacks offloaded 19,858 shares at an average price of $92.38 on Tuesday, according to a filing with the US Securities and Exchange Commission. Sacks retains 26,176 shares valued at about $2.4m.
On 15 August, Monster Beverage's share price rocketed after The Coca-Cola Co agreed to pay $2.15bn for a 16.7% stake in the energy drinks company. Coca-Cola said the move would see Monster become a “pure-play” global energy drinks company and accelerate growth in the category.
Yesterday, Monster's share price climbed by 4.3% to $96.47.
The Coca-Cola Co partner Keurig Green Mountain has launched the Keurig Kold, the home-carbonation beverage platform it hopes will re-energise the CSD category in the US....
Global coconut water consumption has leapt in the last ten years, with growth expected to remain in double digits this year, according to new research....
- Have spirits companies forgotten the mainstream?
- Does alcohol accelerate the onset of dementia?
- Pernod's mood darkens over India - Analysis
- Why Scotch must drop the 'malts good, blends bad'
- Ashwagandha - The next functional drinks trend?
- Moet Hennessy unaffected by LVMH Dior buy
- Diageo to cut 105 jobs in Scotland, 50 in Italy
- Distell acquires majority stake in Cruz Vodka
- Portman Group heads to Tesco for new chief exec
- William Grant names Europe & NA Travel Retail head
- Global Scotch insights - market forecasts, product innovation and consumer trends
- Global Champagne and sparkling wine insights - market forecasts, product innovation and consumer trends
- Battle of the Generations - The fight for iGen, Millennial, Gen X and Baby Boomer consumers
- Myanmar - ISA Country Report
- Global vodka insights - market forecasts, product innovation and consumer trends