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May 16, 2021
Coca-Cola (COKE, $330.66) to drop energy drink line in the US and Canada

Coca-Cola (COKE, $330.66) to drop energy drink line in the US and Canada

Beverage behemoth Coca-Cola   said that it’s dropping its energy-drink line in the U.S. and Canada --  less than 18 months after launching it.

Coca-Cola Energy began to be sold in January 2020. But Coke Energy accounted for only 0.7% of U.S. energy-drink sales as of Dec. 31, according to Beverage Digest. Coke will stop sales of Coke Energy in the U.S. and Canada by year-end, the company told The Wall Street Journal. However, it will still be sold overseas.

"Our strategy is focused on scaling big bets across a streamlined portfolio,” a company spokeswoman told Reuters. “As we scale our best innovations quickly and effectively like AHA and Coca-Cola with Coffee, we need to be disciplined with those that don't get the traction required for further investment.”

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