Celsius Holdings

Celsius Holdings, Inc. is an American company that produces a range of fitness and energy beverages under the brand name Celsius. The company's products are marketed as healthy, which the CEO attributes to the brand's success.
The company was founded in 2004 by Steve Haley. In 2009 the company released their first energy drink in Sweden and ended with a revenue of 5.86 million. By 2012, the company had a market capitalization of approximately $5 million. Five years later, in 2017, Celsius was listed on the Nasdaq. By the end of that year, Celsius Holdings had an annual revenue of almost $36 million.
As of August 2024, Celsius holds an 11% market share of the $19 billion energy drink industry, generating over $1.3 billion in revenue and a market capitalization of roughly $9 billion. The company's success is attributed to its alignment with current consumer preferences, such as increased caffeine content, appeal to health-conscious consumers, and a focus on fruit-flavored products rather than chemically-tasting alternatives.
Celsius has different product lines that contain different caffeine levels.
Celsius contains green tea extract, which contains an antioxidant known as epigallocatechin gallate (EGCG). Guarana seed extract further increases caffeine content. Ginger root is used as both a flavoring agent and for anti-inflammatory effects.
Celsius contains 100 mg – 270 mg of caffeine, depending on the product line and size of the can.
Carl DeSantis was an early investor in Celsius Holdings. DeSantis invested throughout the company's development because the product line interested him. In 2010, he agreed to extend a $3 million dollar credit line for an advertising campaign to promote Celsius's new products, but the money did not create the outcome expected. As a stakeholder, he provided advice to the Celsius team and assisted with leadership changes in 2012 when the company was not meeting the expected business goals. DeSantis died having earned $1.2 billion dollars from a 31% stake in Celsius Holdings.
PepsiCo invested $550 million in Celsius Holdings, an 8.5% minority stake.
Celsius Holdings partnered with Learfield, a collegiate sports marketing company, to form partnerships with college students. In 2023, the brand began partnering with college football quarterbacks, Bo Nix, from the University of Oregon and Michael Penix Jr., of the University of Washington.
In January 2024, Celsius began partnering with college basketball basketball players JuJu Watkins, Jared McCain, Cody Williams, and Kwame Evans Jr..
"Celsius University" was created in 2022 as a student ambassador program, paying students to promote the product line on college campuses.
Early in the company's history, it began sponsoring motorsports entries through series such as NASCAR and Formula One. As of 2024, the company sponsors Hendrick Motorsports, Kaulig Racing, Spire Motorsports, Jordan Anderson Racing, Tricon Garage in NASCAR, and in Formula 1.
Celsius Holdings faced a lawsuit in 2021 with Tramar Lacel Dillard (Flo Rida) for a breach of contract when the company allegedly withheld details about revenue. Flo Rida was a contracted brand ambassador from 2014 to 2018 which brought Celsius to concerts and events to help expand the brand. The Florida court ruled in Flo Rida's favor that Celsius Holdings was in breach of contract as Flo Rida's publicity assisted in the company's growth. Flo Rida was awarded $82.6 million in January 2023 due to the lawsuit. The judgment was upheld on appeal in December 2024, though possibly with a lower amount awarded.
Celsius faced a class-action lawsuit in November 2022 for allegedly misleading customers that the product contained no preservatives, even though they contain citric acid. The company denied the claim, maintaining that citric acid was used as a flavoring agent. The lawsuit was settled out of court in February 2023.
In February 2025, Celsius Holdings announced plans to acquire Alani Nutrition LLC (Alani Nu) for $1.8 billion in a cash and stock deal. Founded in 2018, Alani Nu is a female-focused health and wellness brand offering functional beverages and products. This acquisition aims to create a leading better-for-you functional lifestyle platform, combining two rapidly growing energy drink brands to capitalize on the increasing consumer demand for zero-sugar alternatives.
On March 3rd, 2025, Celsius Holdings announced that Eric Hanson would be appointed as the President and the Chief Operating Officer, effective on March 24 2025.