In 2021, Dwayne Johnson co-founded ZOA Energy; by 2024, Molson Coors had spent $53 million to raise its stake to 51%

Dwayne Johnson, in 2021, co-founded ZOA Energy with Dany Garcia, Dave Rienzi and John Shulman, an energy drink with health benefits that could appeal to people keen on searching for healthier alternatives. Beyond his successful business portfolio spanning far beyond film and wrestling, he has also invested in industries such as alcohol, sports, and consumer goods. In 2024, ZOA took a significant step forward after Molson Coors Beverage Company acquired a majority stake in the business, now owning 51% of it. The company stated that it bought ZOA to handle the company’s marketing, retail sales, direct-to-consumer sales, and product development, believing that ZOA was ready for its next step.

Building a brand beyond celebrity


Molson Coors formed an exclusive distribution agreement with ZOA upon the launch of the brand in 2021. As a result, the beverage company was able to expand its operations into the non-alcoholic beverage area and establish a foothold in this fast-growing market. The partnership indicates that Molson Coors is following a wider strategy of establishing a portfolio of beverages that includes energy drinks, spirits, and ready-to-drink products in addition to its famous beer brands. As ZOA’s distribution grew in North America, ZOA managed to roll out new flavours, change its packaging and increase its marketing campaigns, with Dwayne Johnson remaining one of the brand's most recognisable ambassadors.

From partnership to majority ownership

The relationship between the two companies deepened over the following years as Molson Coors steadily strengthened as it kept investing more into the business. By November 2024, the firm published information on buying into the majority share, stressing that owning more allowed it to speed up the growth of the brand. The deal meant that Molson Coors had responsibility for almost all business parts of ZOA, apart from the promotional efforts that belong to Johnson.

Moreover, the purchase showed the increasing confidence in the energy drink category, especially products connected around wellness and functional ingredients. Molson Coors declared that ZOA had strong re-purchases and attracted new customers to the segment; hence, it was a promising addition to the portfolio. The financial specifics of the transaction have been disclosed in Molson Coors' registration papers. As per Molson Coors’ annual report for 2024 that was filed with the U.S. Securities and Exchange Commission (SEC), the organization spent $53 million to increase its stake in ZOA to 51%. The report notes that the acquisition was recognized as a business combination, with Molson Coors gaining control of ZOA while other stakeholders retained ownership rights. The investment demonstrated the company's willingness to commit additional capital to brands outside its traditional beer portfolio as it continued pursuing its long-term total beverage strategy.

Importance of purchase of energy drinks

Energy drinks have become one of the fastest-growing segments of the global beverage industry, catching the attention of companies that wish to expand beyond soft drinks and alcoholic beverages. The purchase highlights the innovation of established beverage companies in their search for growth in the market where customer preferences are constantly changing. It leads to the emergence of functional drinks, as many companies in the sector are looking for ways to engage in this growing segment.

ZOA represents another example of transforming personal branding into a scalable consumer business. For Molson Coors, taking majority control of the company is part of a broader strategy to strengthen its presence in the fast-growing energy drink market by combining the founders’ brand appeal with its own manufacturing, distribution, and retail capabilities. The purchase demonstrates how relationships between large companies, celebrities, and those who run small businesses can evolve from a kind of partnership into a long-term business plan. The cooperation might include a promotional campaign together with the help of well-known persons and being involved in the production and retail process at the same time.