Celsius shares jump following distribution agreement in Europe

Shares of Celsius Holdings (NASDAQ:CELH) soared approximately 11% to $30 on Monday following the announcement of a new agreement to expand sales and distribution of its energy drinks into Belgium and Luxembourg.

The deal marks another milestone for the company, which has been steadily growing its global footprint.

Celsius Holdings revealed that it has partnered with Suntory Beverage & Food Benelux to bring its popular energy drinks to the two European nations, according to a statement released on Monday.

The expansion builds on the company’s recent successful launches in markets such as Australia, France, Ireland, New Zealand, and the United Kingdom.

The stock’s sharp rise puts Celsius on pace for its largest single-day percentage gain since February 21, when it announced the $1.8 billion acquisition of health and wellness drinks brand Alani Nutrition.

With today’s rally, Celsius shares are up roughly 14% year-to-date, starkly outperforming the S&P 500 consumer discretionary index, which has declined by about 14% over the same period.