Molson Coors ups investment in Dwayne Johnson’s ZOA Energy
Molson Coors has boosted its partnership with ZOA Energy, co-founded by Dwayne ‘The Rock’ Johnson, Dany Garcia, Dave Rienzi and John Shulman.
The move, which sees Molson Coors “strengthen its investment in ZOA” is set to “increase media and marketing to drive incremental sales and expand distribution to international markets”.
Speaking about the deal, Dwayne “The Rock” Johnson said: “We founded ZOA Energy to deliver the best quality energy drink formulations to the marketplace. Through innovation and commitment, we’ve created a range of high-quality products that both fuel the daily lives of our customers and taste great. With Molson Coors, a trusted partner that shares our passion for beverages, we can further deliver on that promise to an even wider audience.”
Molson Coors chief commercial officer Michelle St. Jacques admitted: “This investment is another meaningful step for Molson Coors and our transformation into a total-beverage company. ZOA is an incredible brand in a growing category, so we’re fueling it with the right resources to scale and accelerate its results to become a bigger player in the energy space.”
Molson Coors will continue to be ZOA’s exclusive distribution partner and will assume a presence on its board as part of the deal.
Molson Coors and ZOA first initiated 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 US and Canada. ZOA recently added two new flavours to its lineup, including: Strawberry Watermelon, and Cherry Limeade.
Last year, ZOA reported more than US$100 million in sales and 138% year-over-year growth. With Molson Coors’ expanded minority stake, the company confirmed that “ZOA is now primed to be positioned for further – and aggressive – growth across its retail and direct-to-consumer business” and revealed that “by way of Molson Coors’ expanded stake, ZOA plans to double its media investment in 2024”.
The agreement follows Molson Coors’ recent acquisition of Blue Run Spirits, which also complements the company’s “Beyond Beer” strategy as its portfolio expands to include an array of brands in growing categories and new routes to market.
Johnson explained: “The entire ZOA family couldn’t be more thrilled with the expanded Molson Coors relationship and the many opportunities for growth this collaboration creates. We’re grateful to play a pivotal role in Molson Coors’ investment into their ‘Beyond Beer’ growth and most importantly, playing a role in the wellness journeys of our loyal and growing consumers as we continue crafting drinks that help them show up as their best selves.”
St Jacques added: “We think ZOA is poised to be the next big energy drink brand, and it’s a great example of investing in a brand that’s disrupting a growing category.”