Monster Beverage Prepares to Jump Onto the Hard Seltzer Bandwagon
Monster Beverage (NASDAQ: MNST) is looking to enter into a partnership with a major beer distributor to develop a new hard seltzer brand. Stifel Nicolaus analyst Mark Astrachan told clients in a note that he expects the new product to launch as soon as early 2021.
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Astrachan was upbeat on the prospects of the new drink, believing the spiked seltzer could deliver as much as $76 million in new revenue for the beverage company. "We also think the company could launch a non-alcoholic sparkling water under the Monster brand while the alcoholic version will be a new brand, like Reign," he said, referring to Monster's fitness beverage that captured a 3% share of the market within a year of its release.
Source Fool.com
