Monster Beverage

Last updated

Monster Beverage Corporation
FormerlyHansen Natural Corporation
Company type Public
Founded1935;89 years ago (1935)
(as Hansen's)
Southern California
FounderHubert Hansen
Headquarters
Corona, California
,
U.S.
Key people
Products Energy drinks
RevenueIncrease2.svg US$7.14 billion (2023)
Increase2.svg US$1.95 billion (2023)
Increase2.svg US$1.63 billion (2023)
Total assets Increase2.svg US$9.69 billion (2023)
Total equity Increase2.svg US$8.23 billion (2023)
Number of employees
5,254 (2023)
Website monsterbevcorp.com
Footnotes /references
[1]

Monster Beverage Corporation [2] is an American beverage company that manufactures energy drinks including Monster Energy, Relentless and Burn. The company was originally founded as Hansen's in 1935 in Southern California, originally selling juice products. The company renamed itself as Monster Beverage in 2012.

Contents

As of 2020, Monster held 39% of the $86 billion global energy drink market, the second highest share after Red Bull. [3]

History

Hansen's was founded in 1935. [4] In the 1930s, Hubert Hansen and his three sons began selling juice to film studios and retailers in Southern California under the Hansen's name. In the 1970s, Tim Hansen (the grandson of Hubert) developed and marketed a variety of sodas and juices, also under the Hansen's label. [5]

The company became Hansen's Juices, and later The Fresh Juice Company of California. The plant that was opened in Los Angeles in 1946 was used until operations were moved to a new plant in Azusa, California in 1993. The company filed for bankruptcy in 1988, and was acquired by the California CoPackers Corporation and renamed Hansen Natural Company. In 1990, Hansen's went public with an initial public offering. [6] In 1997, Hansen's launched their first energy drink, called Hansen's Energy. [7] In 1998, the company moved from Anaheim, California to Corona, California. On January 5, 2012, after energy drinks had grown to the largest source of revenue, shareholders agreed to change the name of the company from Hansen's Natural to Monster Beverage Corporation, under the new ticker MNST. Shareholders also approved an increase in the number of authorized shares of common stock to 240,000,000 shares from 120,000,000 shares. [8]

In April 2008, the U.S. Food and Drug Administration ruled products containing high-fructose corn syrup could not be labeled "natural". [9] Shortly after, Hansen's Natural Corporation announced they had begun using cane sugar instead. [10]

In September 2009, Hansen brand Monster Energy sent a cease and desist letter to Rock Art Brewery, demanding the microbrewery stop selling its new Vermonster beer, drop its pursuit of a federal trademark for the name, and pay Hansen's lawyer fees. This resulted in a boycott of all Hansen products by a few Vermont retailers. [11]

The Coca-Cola Company bought a 16.7% stake for $2.15 billion in Monster Beverage Corp in 2015. This stake peaked at 19.3% due to share buybacks conducted by Monster Beverage Corp in 2018. [12] [13]

In January 2022, the company acquired CANarchy Craft Brewery Collective for US$330 million. [14] In February 2022, it was reported Monster and Constellation Brands were considering a merger which would have a combined market capitalization above $90 billion. [15] In June 2023, Monster reached an agreement to acquire Vital Pharmaceuticals, the owner of Bang Energy. [16]

Sponsorship

NASCAR announced on December 1, 2016, a multi-year deal that will make Monster Energy only the third entitlement sponsor in its premier series history. [17] However, this deal ended after the 2019 race season, and the series will be known as simply the "NASCAR Cup Series" from 2020 onward. The company is expected to continue sponsoring individual drivers, including Tyler Reddick, Ty Gibbs and Riley Herbst into the future. Monster remains a secondary sponsor.

Professional Bull Riders Unleash the Beast Series carries a Monster Energy sponsorship.

World of Outlaws features the NOS brand as its title sponsor.

AMA Supercross [18] features Monster Energy as its title sponsor.

Finances

For the fiscal year 2017, Monster Beverage reported earnings of US$821 million, with an annual revenue of US$3.369 billion, an increase of 10.5% over the previous fiscal cycle. Monster Beverage's shares traded at over $51 per share, and its market capitalization was valued at US$29.9 billion in November 2018. [19]

YearRevenue
in mil. USD$		Net income
in mil. USD$		Total assets
in mil. USD$		Price per share
in USD$		Employees
2005349631641.75
2006606983085.49
20079041495457.30
20081,0341087625.27
20091,1432098005.81
20101,3042121,1477.36
20111,7032861,36212.44
20122,0613401,04319.77
20132,2463391,42118.651,571
20142,4654831,93926.791,538
20152,7235475,57145.461,659
20163,0497134,15347.661,836
20173,3698214,79151.692,114

Products

Former products

Natural soda

Natural Soda comes in twelve flavors: Original Cola, Ginger Ale, Key Lime Twist, Cherry Vanilla Creme, Grapefruit, Kiwi Strawberry, Vanilla Cola, Mandarin Lime, Creamy Root Beer, Raspberry, Mango Orange, and Pomegranate. [20] All Hansen's sodas are made with cane sugar.

Diet soda

Their Diet Soda is available in ten flavors: Cola, Black Cherry, Peach, Kiwi Strawberry, Vanilla Cherry Créme, Tangerine, Lime, Ginger Ale, Root Beer, Grapefruit, and Pomegranate. Hansen's diet soda is sweetened with acesulfame potassium and sucralose. All diet sodas are OU Kosher certified. [4] [ failed verification ]

Drink mixers

Monster Beverage sells three flavors of soda mixer: Tonic, Ginger Ale, and Club Soda.

Fruit juices

The company sells thirteen fruit juices in 64-ounce PET bottles, several of which are available in smaller bottles for kids. These include Apple, Grape, White Grape, Pineapple, Apple Grape, Apple Strawberry, Orange, Cranberry Apple, Ruby Red Grapefruit, Pomegranate, Organic Apple White Grape, Organic Apple Wild Berry and Organic Apple. Hansen's Natural Organic Apple Juice is made solely from concentrates the company obtains from China. Hansen's uses concentrates from China in other varieties of its juices, despite the availability of such juice concentrates made from fruit grown and processed in the United States, which grows an abundance of apples, as well as many of the other fruits used in Hansen's juice products. These juices contain 120% of the United States Recommended Daily Allowances (USRDA) for Vitamin C (except Pomegranate, which contains 100%).[ citation needed ]

In 2009, Monster Beverage introduced Hansen's Natural Lo-Cal 64-ounce juice cocktails, in four flavors. They are sweetened with Truvia.

Hansen's fruit juice smoothies contain approximately 25% juice and provide 100% of the recommended daily adult intake of Vitamins A, C, and E. They are packaged in 11.5-ounce aluminum cans.

Juices for children

Hansen's Juice Blast line of children's juice drinks was launched in conjunction with Costco and sold in Costco stores. Hansen also has a Juice Slam line of children's juice drinks. Both lines are sold in 6.75-ounce boxes.

In May 2001, Hansen's acquired the Junior Juice beverage business. [21] Hansen's Junior Juice is 100% juice, sold in 4.23-ounce cartons and targeted at toddlers and preschoolers. Certain flavors of Junior Juice have calcium added and all flavors contain 100% of the daily recommended allowance of Vitamin C. The brand was introduced in 1991 by McCain Foods, [22] and sold to the Pasco Beverage Group in 2000 [23] before being sold again, to Hansen's. Hansen's replaced the original four mascots, Uncle Froggy, Emily the Mouse, Ronald Rabbit, and Nick the Fox, [24] with Clifford the Big Red Dog.

In July 2008, Hansen's introduced Hansen's Organic Junior Water, in 4.23-ounce packages aimed at children between two and six years old. The Hansen's Organic Junior Water line of flavored water contains 100% of the daily recommended allowance of Vitamin C and thirty calories per serving. Also in 2008, organic Junior Water was introduced. Hansen's later introduced Coconut Water Twist, containing coconut water, [25] and Garden Twist, a combination of fruits and vegetables, which is the only Junior Juice variant to be sold in bottles. [25]

Other beverages

Smoothies, Rumba Energy Juice,Energade, and Energy Formula, are minor products. Monster owns Blue Sky Beverage Company, which manufactures several soft drinks. Monster produces the Monster, Lost, and Rumba energy drinks, which were previously distributed in the United States by Anheuser Busch. [26]

In August 2009, Hansen's introduced the SELF Beauty Elixir line, a low-calorie beverage containing vitamins, minerals, natural fruit & botanical extracts, antioxidants and 30% fruit juice. The beverage contains 35 calories and a low amount of sodium per 8-ounce aluminum can.

Signature Soda

Hansen's Signature Soda line included Black Cherry, Vanilla Cream, Orange Cream, Ginger Beer, and Sarsaparilla flavors. [4]

Natural and diet tea sodas

Hansen's Natural and Diet Soda flavors included: Black Cherry, Tangerine, Tropical, Orange Mango, Peach Mango, Peach, Cherry, Cranberry, Clear Root Beer, Vanilla Coffee, Low Cal Wildberry, Low Cal Cola, and Low Cal Creamy Cola.

In 2006, Hansen's introduced a line of iced teas in 16-ounce PET bottles. Some varieties were sweetened with cane sugar and some were unsweetened. Flavors included Lemon Mint, Pomegranate, Ginger, and Tangerine. There were also three flavors of diet green tea soda: Lemon Mint, Ginger and Tangerine. Each bottle of tea contained 75 mg of Epigallocatechin gallate. Hansen's also made tea bags.

Controversies

In 2018, The Huffington Post published an article in which five women accused Monster Beverage of having an abusive and discriminatory culture. [27] Brent Hamilton, then head of music marketing at Monster Energy, had been charged with assault for strangling and biting his girlfriend in 2016, but he wasn't let go until 2019, allegedly for sexual misconduct. [28] Manager Phillip Deitrich regularly humiliated and boycotted a female subordinate in public, and denied her increases in compensation. VP John Kenneally was accused of retaliation, bullying, and sexual harassment. According to three women, he subverted their reputations and forced them to abandon the company. One woman had responded to his advances but suffered nothing but abuse as a consequence of his jealous personality. She was ultimately forced out of the company by Kenneally after objecting to him calling her a "whore". Kenneally was fired two weeks after the article was released. [28] In March 2018, a sixth woman came forward, accusing retired manager Ted Cook of sexual harassment, and claimed being fired for mercurial reasons. [29]

Related Research Articles

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<span class="mw-page-title-main">Minute Maid</span> American beverage company

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<span class="mw-page-title-main">Full Throttle (drink)</span> Energy drink brand

Full Throttle is an energy drink brand produced by Monster Beverage. It debuted in late 2004 in the United States and Canada under its former owner The Coca-Cola Company. It is known for its sponsorship of National Hot Rod Association competitions from 2008 to 2012.

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<span class="mw-page-title-main">Blue Sky Beverage Company</span> Beverage company

Blue Sky Beverage Company was a beverage company that produced soft drinks and energy drinks. It is a wholly owned subsidiary of the Monster Beverage Corporation. The company was established in Santa Fe, New Mexico, in 1980, where it remained until it was purchased by Monster in 2000. Coca-Cola North America took ownership of Blue Sky Sodas, Hansen’s Juice Products, Hansen’s Natural Sodas, Hubert’s Lemonade, Peace Tea and other non-energy drink brands as part of Coke’s partnership with Monster Beverage Corp on Jun 12, 2015. Blue Sky Beverage Company now operates out of Corona, California. The southwestern look and feel of the artwork on the soda cans is reminiscent of the company's roots in New Mexico.

Zevia is a Los Angeles based company that produces soft drinks, organic tea, energy drinks, and mixers sweetened with stevia. All Zevia products are zero-calorie, sugar-free, gluten free, vegan, certified kosher, and certified by The Non-GMO Project. In June 2021, Zevia filed to go public with an IPO.

References

  1. ↑ "2023 Annual Report". U.S. Securities and Exchange Commission. February 29, 2024. Retrieved March 2, 2024.
  2. ↑ "Evolution of Merchandising in the Apparel Industry and Management of Private Label Apparel in the Retail Industry", Apparel Merchandising, Fairchild Publications, pp. 1–50, 2014, doi:10.5040/9781501303241.ch-001, ISBN   978-1-5013-0324-1
  3. ↑ "Energy Drink Market Share". T4.ai. August 16, 2020. Archived from the original on April 22, 2023. Retrieved December 31, 2020.
  4. 1 2 3 "Hansen's Natural Sodas". Hansens.com.
  5. ↑ "Hansen's Natural Sodas". Hansens.com. Archived from the original on February 22, 2010. Retrieved February 17, 2010.
  6. ↑ "Monster Beverage's Record Quarter". Front Office Sports. Retrieved January 30, 2024.
  7. ↑ Carpenter, Murray (March 8, 2014). "Generation jitters: are we addicted to caffeine?". The Guardian. ISSN   0261-3077 . Retrieved January 30, 2024.
  8. ↑ "New Stock Ticker Press release" (PDF). Archived from the original (PDF) on September 26, 2018. Retrieved July 6, 2012.
  9. ↑ Mueller, Sue. FDA: High fructose corn syrup not natural Archived August 14, 2020, at the Wayback Machine , Foodconsumer.org, April 22, 2008
  10. ↑ "Natural Soda". Marketwire.com. Retrieved January 15, 2022.
  11. ↑ "Monster Problem for Rock Art - WCAX.COM Local Vermont News, Weather and Sports". Wcax.com. October 9, 2009. Archived from the original on June 22, 2012. Retrieved November 19, 2012.
  12. ↑ Byington, Lillianna (November 9, 2018). "Coca-Cola in fight with Monster over new energy drinks". Fooddive.com.
  13. ↑ "2021 Proxy statement". Sec.gov.
  14. ↑ "Monster Beverage to buy craft-beer maker in alcohol market drive". Reuters.com. January 13, 2022. Retrieved January 15, 2022.
  15. ↑ "Monster Beverage and Constellation Mergers Talks Are Progressing". Bloomberg. February 14, 2022.
  16. ↑ "Monster Close to Acquiring Rival Bang Energy For $362 Million". Bloomberg.com. June 29, 2023. Retrieved July 1, 2023.
  17. ↑ "Monster Energy backing NASCAR's top series". ESPN.com. December 1, 2016. Retrieved January 15, 2022.
  18. ↑ "The Official Site of Monster Energy® AMA Supercross". www.supercrosslive.com. Retrieved July 23, 2022.
  19. ↑ "Monster Beverage Revenue 2006-2018 | MNST". Macrotrends.net. Retrieved November 5, 2018.
  20. ↑ "Hansen's Natural Sodas". Hansens.com. Archived from the original on January 30, 2010. Retrieved January 19, 2010.
  21. ↑ "Hansen Buys Junior Juice" Nutraceuticals World, July 1, 2001
  22. ↑ "McCain Citrus: the little juice company grows up" Business Library, April–May 1992
  23. ↑ "Pasco adds McCain Citrus, sells 'Old South' brand" Business Library, May 8, 2000
  24. ↑ "YouTube". Youtube.com. Archived from the original on July 27, 2013.
  25. 1 2 "Hansen's Natural Sodas". Hansens.com. Archived from the original on July 14, 2012. Retrieved July 4, 2012.
  26. ↑ "Hansen's Natural Sodas". Hansens.com. Archived from the original on September 27, 2007. Retrieved October 24, 2007.
  27. ↑ "Exclusive: 5 Women Sue Monster Energy Over Abusive, Discriminatory Culture". HuffPost. January 23, 2018. Retrieved February 16, 2022.
  28. 1 2 "Monster Energy Ousts Executive Nearly 3 Years After Assault Charges". HuffPost. May 14, 2019. Retrieved February 16, 2022.
  29. ↑ "Trapped Inside The Monster Energy Frat House". HuffPost. March 29, 2018. Retrieved February 16, 2022.
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