Monster Beverage Acquires Bang Energy Assets From Bankruptcy Proceedings
03 Luglio 2023 - 3:05PM
Dow Jones News
By Ben Glickman
Monster Beverage said Monday it would acquire bankrupt beverage
maker Bang Energy.
The Corona, Calif.-based producer of Monster Energy drinks said
it had entered into an agreement to acquire Bang Energy's assets
from parent company Vital Pharmaceuticals, including a production
facility in Phoenix.
Monster Beverage didn't disclose the terms of the agreement but
said in a June 28 U.S. bankruptcy court filing that it would pay
$362 million to acquire Bang and its assets. The proposed deal is
still subject to approval by the court.
Bang filed for Chapter 11 protections in October 2022.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
July 03, 2023 08:50 ET (12:50 GMT)
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