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Monster Beverage Corp CEO Rodney Sacks has said the company is closing in on a hard seltzer but that no final decision has been made.

Monster Beverage Corp speaks about its plans on hard seltzer launch

Monster Beverage Corp speaks about its plans on hard seltzer launch

Speaking to analysts this week, Sacks said the group is looking at a "number of alternatives and opportunities" to develop non-alcoholic and alcoholic hard seltzers. However, decisions on which way to go are still pending.

"Obviously, we're getting there," Sacks said. "We're quite close, but we haven't gotten to that position yet. I really can't give you an update other than to tell you that we are seriously looking at all those options."

Sacks said that Monster has filed for names and trademarks applications for possible new categories.

"At this point, it is premature for us to give any indication to the market of what our plans are because we have not firmed up our plans internally ourselves yet," Sacks added. "There's been no definitive decision on when to launch, what to launch and under what brand names."

Last year, Monster said it was looking to move into spirits, as well as alcoholic malt beverages and hard seltzers. Last month, analyst Mark Astrachan said Monster could release a hard seltzer as early as next year.

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