The Coca-Cola Company (TCCC) has recently announced that it is set to launch its own brand of energy drinks under its trademark name.
In a statement made public via e-mail, the soft drinks company disclosed that the new drinks would be named “Coca-Cola Energy” and “Coca-Cola Energy No Sugar.”
The announcement signals the company’s continuous move to diversify away from its mainstay sugary drinks. The new drinks energy drinks would likely contain caffeine from naturally-derived sources and Guarana extract, the company announced.
However, Energy drinks maker, Monster Beverage, in which Coca-Cola currently holds a 16.75% stake has said the move violates its agreement with the soft drinks giant. Coca-Cola up until now has been marketing the Monster Energy brand worldwide through its extensive distribution network.
Coca-Cola admitted it is in arbitration with Monster over its plans to start making Energy drinks.
“We have submitted the difference in interpretation to an arbitration panel for resolution, which is the mechanism agreed by the Coca-Cola Company and Monster in the original agreement,” according to a Coca-Cola spokesperson.
The company has not announced a date for the launch of the new energy drinks yet.