1559 ET - Keurig Dr Pepper's innovation strategies will be focused on energy drinks next year, CEO Tim Cofer says at Morgan Stanley's global consumer and retail conference. The company will further expand its position on the energy drinks territory in 2025, the executive says. The acquisition of energy drink company Ghost is part of this vision, as the category is worth about $24 billion, Cofer says. "It is still early in its development," Cofer says. However, "there's a lot of structural tailwinds that suggest that this category is going to continue to grow," he adds. Shares rise 0.7% to $32.62. (sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
December 04, 2024 15:59 ET (20:59 GMT)
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