Coca-Cola, the world's largest beverage company, agreed to swap some brands and buy a 17 per cent stake in Monster Beverage for some $2.15 billion, increasing its bet on the expanding energy-drink market.

The move is part of a deal that will include the transfer of Coca-Cola's energy drinks NOS, Full Throttle, Burn, Mother and Play to Monster.

Monster, meanwhile, will shift Hansen’s natural sodas and juices, Peace tea and Hubert’s lemonade to Coca- Cola.

Coca-Cola, which already distributes Monster in the US and Canada, will expand the arrangement globally, helping the brand grow overseas.

“It gives them exposure to one of the fastest-growing segments of carbonated soft drinks globally,” said Ali Dibadj, a New York-based analyst at Sanford C Bernstein and Co. – (Bloomberg)