Pursuits
Coca-Cola’s Stake Buy Makes Monster Founders Billionaires
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Rodney Sacks and Hilton Schlosberg wanted to get into the packaging business. Frustrated in their attempt to find a company to buy, the partners took a tip from an investment banker and purchased debt-laden soda maker Hansen Natural Corp. in 1992.
Two decades, a name change and a whole lot of caffeine later, the partners have emerged as billionaires as their company, Monster Beverage Corp., agreed to sell a 17 percent stake to Coca-Cola Co. yesterday for $2.15 billion. The stock jumped 30 percent to $93.49 at 4:15 p.m. today in New York.