08.01.23
Monster Beverage Corporation (NASDAQ: MNST) has completed its acquisition of Bang Energy’s assets, including a beverage production facility in Phoenix, AZ, for $362 million.
Vital Pharmaceuticals, Inc., the parent company of Bang Energy, filed for Chapter 11 bankruptcy in October 2022 in part because it owed Monster $293 million as part of a false advertising and misconduct lawsuit filed by the company.
Monster Chairman and Co-CEO Rodney C. Sacks said: “We are enthusiastic about the opportunities this acquisition presents to us and believe that the Bang brand will fit well within our broader portfolio of energy drink brands.”
Hilton H. Schlosberg, vice chairman and co-CEO of Monster, added: “We are pleased to add Bang Energy beverages, with their distinct market positioning and loyal consumer base, into our energy drink portfolio. As part of the transaction, we are also acquiring a state-of-the-art beverage plant in Phoenix, and we will be increasing production at this facility to accommodate certain of our other brands.”
Vital Pharmaceuticals, Inc., the parent company of Bang Energy, filed for Chapter 11 bankruptcy in October 2022 in part because it owed Monster $293 million as part of a false advertising and misconduct lawsuit filed by the company.
Monster Chairman and Co-CEO Rodney C. Sacks said: “We are enthusiastic about the opportunities this acquisition presents to us and believe that the Bang brand will fit well within our broader portfolio of energy drink brands.”
Hilton H. Schlosberg, vice chairman and co-CEO of Monster, added: “We are pleased to add Bang Energy beverages, with their distinct market positioning and loyal consumer base, into our energy drink portfolio. As part of the transaction, we are also acquiring a state-of-the-art beverage plant in Phoenix, and we will be increasing production at this facility to accommodate certain of our other brands.”
