Monster Beverage Completes Acquisition of Bang Energy
July 31 2023 - 4:10PM
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 sparkling waters under the Monster Tour Water®
brand name. The Company’s subsidiaries also develop and market
craft beers, hard seltzers and flavored malt beverages under a
number of brands, including Jai Alai® IPA, Dale’s Pale Ale®, Dallas
Blonde®, Wild Basin® hard seltzers and The Beast Unleashed™. For
more information visit www.monsterbevcorp.com.
Caution Concerning Forward-Looking
StatementsCertain statements made in this announcement may
constitute “forward-looking statements” within the meaning of the
U.S. federal securities laws, as amended, regarding the
expectations of management with respect to our future operating
results and other future events including revenues and
profitability. Monster cautions that these statements are based on
management’s current knowledge and expectations and are subject to
certain risks and uncertainties, many of which are outside of the
control of Monster that could cause actual results and events to
differ materially from the statements made herein. For a more
detailed discussion of these and other risks that could affect our
operating results, see Monster’s reports filed with the Securities
and Exchange Commission, including our annual report on Form 10-K
for the year ended December 31, 2022, and any subsequent filings as
well as the following: the ability of Monster to successfully
integrate Bang Energy’s assets and recognize the anticipated
benefits of the transaction; Monster’s ability to limit disruptions
in the distribution of Bang Energy beverages and successfully
transition the acquired Bang Energy beverages to the Company’s
primary distributors; and Monster’s ability to procure shelf space,
retain customers and increase sales of the acquired Bang Energy
beverages. Monster’s actual results could differ materially from
those contained in the forward-looking statements. Monster assumes
no obligation to update any forward-looking statements, whether as
a result of new information, future events or otherwise.
CONTACTS: |
Rodney C.
Sacks |
|
Chairman and Co-Chief Executive Officer |
|
(951) 739-6200 |
|
|
|
Hilton H. Schlosberg |
|
Vice Chairman and Co-Chief Executive Officer |
|
(951) 739-6200 |
|
|
|
Roger S. Pondel / Judy Lin |
|
PondelWilkinson Inc. |
|
(310) 279-5980 |
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