Coca-Cola HBC set to launch Monster Energy drink in Nigeria
Coca-Cola HBC, the bottler of Coca-Cola products in Nigeria has said it will introduce Monster Energy brand in Nigeria in the second-half of this year.
Speaking to analysts at the company’s Q1 trading update, CEO Dimitris Lois, said Monster would launch in “late Q3, early Q4”.
“We are excited…with the energy category,” Lois said. “We don’t have something right now in Nigeria.”
Coca-Cola bought 16.75% stake in Monster Beverage Corporation valued at $2.15bn in August 2014.
While other drinks companies are finding the current macro-economic environment in Nigeria challenging, CCHBC extolled the country’s “strong performance” for the eight consecutive quarters.
“Obviously it is very challenging external environment taking into consideration the FX overall situation,” Lois said. “We are very strong in Nigeria as a key growth driver.”
He added that the company expects mid-single digit growth, “potentially going to high-single digit” for 2016.
Lois said that Sparkling PETs were the main growth driver along with 50cl returnable glass bottles. The company is also set to launch additional packages to the market, including a 60cl PET format.
Lois noted that Coca-Cola’s Pulpy juice had seen “growth of 45%” in the country. The brand was introduced in Nigeria in September 2015.
“We are [also] very happy to see a high single-digit growth in water. So all cylinders are firing,” he added.
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