Action sports company Thrill One Sports & Entertainment announced a partnership Thursday with Monster Energy, one of the most well-known energy drink brands globally.

What Happened: Thrill One Sports & Entertainment is the owner of several sports brands including Nitro Circus, Nitrocross and Street League Skateboarding.

The sports company is partnering with Monster Energy, a unit of Monster Beverage Corporation (NASDAQ:MNST). The multiyear partnership will include exclusive energy drink sponsorship, innovative event experiences, and branding opportunities for the two companies. Grassroots engagement and community-building will also be a big focus of the partnership.

The newly announced partnership comes after Monster Energy has already been a partner of Street League Skateboarding.

Monster Energy will serve as the exclusive energy drink partner of Thrill One Sports & Entertainment and be prominently featured at events, including the next Nitro Circus event on July 26 in Milwaukee, Wisconsin.

"Monster Energy has been a cornerstone of the global action sports community, and we are excited to expand our partnership across all Thrill One properties," Thrill One Sports & Entertainment CEO Matt Cohn said.

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Why It's Important: The two companies said there are synergies across the partnership with multiple Monster Energy athletes already competing in several Thrill One events.

The partnership will see Monster Energy play a role in local team engagements with prizes and giveaways to connect fans with athletes and the leagues.

"Together, we aim to deliver genuine, authentic experiences globally and push the boundaries of what's possible in action sports," Cohn said.

For Monster Energy, the partnership could also bring more fans to the energy drink brand partially owned by The Coca-Cola Company (NYSE:KO). Thrill One has over 40 million followers across its various channels and brand pages.

"Monster Energy's deep-rooted commitment to action sports on a global scale aligns perfects with Thrill One's vision and international presence," Monster Energy SVP of Sports Marketing Mitch Covington said.

Monster Energy is a key partner across many action sports including NASCAR, MMA and BMX.

The company said Monster Energy is "more than a drink" and a way of life for athletes, sports, bands and fans.

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