Press release
Monster Enters into Asset Purchase Agreement with Vital Pharmaceuticals
Proposed Transaction to Capitalize on Growing Energy Drink Category Vital Pharmaceuticals filed for Chapter 11 Protection in October 2022 CORONA,
About this update from Monster Beverage Corporation
[{"type":"text","content":"\nProposed Transaction to Capitalize on Growing Energy Drink Category\n\n\nVital Pharmaceuticals filed for Chapter 11 Protection in October 2022\n\n\n CORONA, Calif.--(BUSINESS WIRE)--\nMonster Beverage Corporation (NASDAQ: MNST) (“Monster”) and Vital Pharmaceuticals, Inc. (together with certain of its debtor affiliates, “Bang Energy”) today announced they have entered into an Asset Purchase Agreement (“APA” or “Agreement”) under which a subsidiary of Monster would acquire substantially all of Bang Energy’s assets, including a beverage production facility located in Phoenix, AZ (the “Transaction”). The Transaction is subject to certain terms and closing conditions, which include obtaining Bankruptcy Court approval.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230703372090/en/\nUnder the terms of the APA, subject to satisfaction of certain closing conditions, Monster will acquire Bang Energy’s performance beverages and related Bang Energy businesses through the purchase of substantially all of Bang Energy’s assets.\n\n\nWhile Monster is hopeful that the Transaction will be completed, there is no guarantee that it will receive Bankruptcy Court approval. Bang Energy filed for Chapter 11 protections under the U.S. Bankruptcy Code in October 2022.\n\n\nAdvisors\n\n\nEvercore Group LLC is acting as investment banker and Pachulski Stang Ziehl & Jones LLP and Akerman LLP are acting as legal counsel to Monster.\n\n\nHuron Consulting Group is acting as financial advisor, Rothschild & Co is acting as investment banker, and Latham & Watkins LLP and Berger Singerman LLP are acting as legal counsel to Bang Energy. C Street Advisory Group is acting as strategy and communications advisor to Bang Energy.\n\n\nMonster Beverage Corporation\n\n\nBased 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 Bod...