Molson Coors Ups Investment in ZOA Energy

Molson Coors Beverage Co. said it increased its investment in ZOA Energy, enabling ZOA to double its planned media budget for the coming year while continuing to grow its sales and distribution footprints.  Molson Coors will also have a seat on Zoa's board of directors.  The amount of the investment wasn't disclosed.

According to Crunchbase, which compiles private company data, Molson Coors is Zoa's second investor.  The first was Juggernaut Capital Partners.

“This investment is another meaningful step for Molson Coors and our transformation into a total-beverage company,” said Chief Commercial Officer Michelle St. Jacques. “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.”

ZOA, which is available at more than 42,000 retailers and more than 160,000 points of distribution across the U.S. and Canada, reported more than $100 million in sales in 2022 and 138% year-over-year growth. A top-15 energy drink according to Circana, ZOA’s lineup of eight flavors are made with all-natural ingredients and zero sugar; its ZOA+ pre-workout offering features four flavors. The energy drink has been buoyed by a colorful new visual identity that launched earlier this year – and programs featuring its co-founder, one of the world’s biggest movie stars.

“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,” said Johnson. “With Molson Coors, a trusted partner that shares our passion for beverages, we can further deliver on that promise to an even wider audience.