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.
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