Press release
Monster Beverage Completes Acquisition of Bang Energy
CORONA, Calif., July 31, 2023 (GLOBE NEWSWIRE) -- Monster Beverage Corporation (NASDAQ: MNST) today announced that its subsidiary, Blast Asset Acquisition
About this update from Monster Beverage Corporation
[{"type":"text","content":"CORONA, Calif., July 31, 2023 (GLOBE NEWSWIRE) -- Monster Beverage Corporation (NASDAQ: MNST) today announced that its subsidiary, Blast Asset Acquisition LLC, completed its acquisition of substantially all of the assets of Vital Pharmaceuticals, Inc. and certain of its affiliates (collectively, “Bang Energy”) for a purchase price of approximately $362 million, subject to adjustments. The acquired assets include Bang Energy beverages and a beverage production facility in Phoenix, Arizona. Chairman and Co-Chief Executive Officer 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-Chief Executive Officer, said: “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. “We are excited for the opportunities for all of our brands,” Schlosberg added. Monster Beverage CorporationBased in Corona, California, Monster Beverage Corporation is a holding company and conducts no operating business except through its consolidated subsidiaries. The Company’s subsidiaries develop and market energy drinks, including Monster Energy® drinks, Monster Energy Ultra® energy drinks, Juice Monster® Energy + Juice energy drinks, Java Monster® non-carbonated coffee + energy drinks, Rehab® Monster® non-carbonated energy drinks, Monster Hydro® non-carbonated refreshment + energy drinks, Monster Energy® Nitro energy drinks, Reign Total Body Fuel® high performance energy drinks, Reign Inferno® thermogenic fuel high performance energy drinks, Reign Storm® clean energy drinks, NOS® energy drinks, Full Throttle® energy drinks, BPM® energy drinks, BU® energy drinks, Burn® energy drinks, Gladiator® energy drinks, Live+® energy drinks, Mother® energy drinks, Nalu® energy drinks, Play® and Power Play® (stylized) energy drinks, Relentless® energy drinks, Samurai® energy drinks, Ultra Energy® drinks, Predator® energy drinks and Fury® energy drinks. The Company’s subsidiaries also develop and market still and ...