Monster Beverage Completes Acquisition of Bang Energy
- Monster Beverage Corporation completes acquisition of Bang Energy for $362 million
- Acquisition includes Bang Energy beverages and a beverage production facility in Phoenix, Arizona
- Bang brand expected to fit well within Monster Beverage's broader portfolio of energy drink brands
- None.
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
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 Corporation
Based 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 Statements
Certain 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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