Coca-Cola Company (KO.N) on Thursday said it plans to launch two energy drinks under its namesake brand, its latest move to diversify away from sugary sodas.
Coca-Cola or Coke is a carbonated soft drink manufactured by The Coca-Cola Company.
Originally intended as a patent medicine, it was invented in the late 19th century by John Pemberton and was bought out by businessman Asa Griggs Candler.
Candler’s marketing tactics led Coca-Cola to its dominance of the world soft-drink market throughout the 20th century.
The drink’s name refers to two of its original ingredients: coca leaves, and kola nuts (a source of caffeine).
Coca-Cola, in an emailed statement, declined to provide a timeline for the launch of the drinks, to be named “Coca-Cola Energy” and “Coca-Cola Energy No Sugar”.
“The beverages would likely have caffeine from naturally-derived sources and guarana extract,’’ Coke said.
Coke is currently in arbitration with energy drinks maker Monster Beverage (MNST.O), in which it is the top shareholder, over the launch of the drinks, which Monster says could violate an agreement between the companies.
Monster shares fell 10 per cent on Thursday after news of the arbitration with Coke.
“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 agreements,” a Coca-Cola spokesperson said.