Business Briefs: Coke acquires Monster share

Business Briefs: Coke acquires Monster share

August 16th, 2014 by Associated Press and Staff Report in Business Around the Region

Coke acquires Monster share

Trying to gain ground in the energy drink market, Coca-Cola has bought a 16.7 percent stake in Monster for $2.15 billion.

As part of the deal, Monster will take over Coke's small energy drink business, while Coke will absorb the former's non-energy drink brands. Coke said it also has the option to boost its stake in Monster to 25 percent.

Atlanta-based Coke is under pressure to find new products as its core soft drink business struggles in North America, where concerns about the effect of sugary beverages on waistlines and health have flattened soda sales the past few years. The deal gives Coke a stronger position in the robust and growing energy category. Coke's own entrants -- including NOS and Full Throttle -- have lagged compared to Monster and Red Bull.

Ford recalling Focus hatchbacks

Ford is recalling about 160,000 Focus ST hatchbacks and Escape crossovers from the 2013-14 model years because the turbocharged, 2-liter 4-cylinder engine may lose power or stall, the automaker said Friday. The action includes about 133,000 vehicles in the United States and 25,000 in Canada.

The connections for the engine wiring harness may have been "insufficiently compressed," Kelli Felker, a spokeswoman for Ford, said in an email. The defect could lead to drivability problems, including the engine stalling without warning. Felker said the automaker was not aware of any accidents or injuries related to the problem.