<SEC-DOCUMENT>0001104659-21-141211.txt : 20220215
<SEC-HEADER>0001104659-21-141211.hdr.sgml : 20220215
<ACCEPTANCE-DATETIME>20211118161909
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001104659-21-141211
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20211118

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Monster Beverage Corp
		CENTRAL INDEX KEY:			0000865752
		STANDARD INDUSTRIAL CLASSIFICATION:	BOTTLED & CANNED SOFT DRINKS CARBONATED WATERS [2086]
		IRS NUMBER:				471809393
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		1 MONSTER WAY
		CITY:			CORONA
		STATE:			CA
		ZIP:			92879
		BUSINESS PHONE:		909-739-6200

	MAIL ADDRESS:	
		STREET 1:		1 MONSTER WAY
		CITY:			CORONA
		STATE:			CA
		ZIP:			92879

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HANSEN NATURAL CORP
		DATE OF NAME CHANGE:	19930328

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UNIPAC CORP
		DATE OF NAME CHANGE:	19600201
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                           <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">November 18, 2021&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>VIA EDGAR</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Securities and Exchange Commission<BR>
Division of Corporation Finance<BR>
100 F Street, N.E.<BR>
Washington, D.C. 20549&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attention:</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ms. Jennifer Angelini</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr. Sergio Chinos</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Re:</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Monster Beverage Corporation</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form 10-K for the Year Ended December 31, 2020</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Response dated October 5, 2021</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 13%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 46%; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">File No. 001-18761</FONT></TD>
    <TD STYLE="width: 36%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;Dear
</FONT>Ms.&nbsp;Angelini and Mr. Chinos:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">This letter is being furnished
on behalf of Monster Beverage Corporation (the &ldquo;<B><I>Company</I></B>&rdquo;) in response to the comments received from the staff
of the Division of Corporation Finance (the &ldquo;<B><I>Staff</I></B>&rdquo;) of the U.S. Securities and Exchange Commission (the &ldquo;<B><I>Commission</I></B>&rdquo;)
by letter dated October 20, 2021, regarding our response dated October 5, 2021, in connection with the Company&rsquo;s Annual Report on
Form&nbsp;10-K for the year ended December&nbsp;31, 2020 that was filed with the Commission on March 1, 2021 (the &ldquo;<B><I>2020 Form&nbsp;10-K</I></B>&rdquo;)
(File No.&nbsp;001-18761).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The text of the Staff&rsquo;s
comment has been numbered and included in bold and italics for your convenience, and we have set forth the Company&rsquo;s response immediately
below such numbered comment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I><U>Form 10-K for the Fiscal Year Ended December
31, 2020</U></I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I><U>General</U></I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>1.</I></B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>We note from your response to prior comment
2 that you have had no material capital expenditures for climate-related projects for the periods covered in the 2020 Form 10-K and that
future capital expenditures for climate-related projects are not expected to be material. Please tell us about your capital expenditures
for climate-related projects and provide us with additional detail supporting your statements regarding materiality, </I></B></FONT><I>including
quantitative information.</I></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I><U>Response</U></I></B></FONT>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
response to the Staff&rsquo;s comment, the Company advises the Staff that the 2020 Form 10-K disclosed that the </FONT>Company does not
operate its own manufacturing facilities for finished goods, but instead outsources the manufacturing process to third-party bottlers
and contract packers situated throughout the United States and abroad.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">Capital expenditures
for climate-related projects for all of the periods covered in the 2020 Form 10-K in aggregate were approximately $5.5 million, representing
approximately 0.12% of 2020 net sales, 0.39 % of 2020 net income and 0.09% of total assets at December 31, 2020. Such climate-related
projects included improvements related to LEED Gold certification for our corporate headquarters in Corona, California; incremental costs
of purchasing ENERGY STAR certified coolers; and installing electric vehicle charging stations at our office in Uxbridge, United Kingdom.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">Capital expenditures
for currently planned climate-related projects are estimated to be similar to our prior climate-related capital expenditures on a percentage
basis. We currently estimate climate-related capital expenditures in aggregate through 2023 of approximately $9.3 million, which would
represent approximately 0.20% of 2020 net sales, 0.66% of 2020 net income and 0.15% of total assets at December 31, 2020. Such climate-related
projects include solar panels on the roof of our corporate headquarters in Corona, California and our warehouse in Rialto, California;
additional electric vehicle charging stations at various locations; refillable water stations throughout the corporate headquarters; and
LEED certification related features at our new facility in San Fernando, California.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">Based on the above
information, the Company advised the Staff that the Company has had no material capital expenditures for climate-related projects for
the periods covered in the 2020 Form 10-K and that future capital expenditures for climate-related projects are not expected to be material.
However, future business opportunities or circumstances may cause a change in the Company&rsquo;s estimate of capital expenditures for
climate-related projects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">As stated in the
Company&rsquo;s previous response letter dated October 5, 2021, the Company acknowledges the Staff&rsquo;s comment and in future filings,
if applicable and material, will quantify capital expenditures for climate-related projects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We appreciate the Staff&rsquo;s
time and attention and we hope that the foregoing has been responsive to the Staff&rsquo;s comment.&nbsp;If you have any further questions
or need any additional information, please feel free to contact the undersigned at (951) 739-6200 at your convenience.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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    <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sincerely,</FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Hilton H. Schlosberg</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hilton H. Schlosberg</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vice Chairman of the Board of Directors and</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Co-Chief Executive Officer</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">cc: Farzad F. Damania<BR>
Katten Muchin Rosenman LLP&nbsp;</P>

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