Monster Beverage Corporation
Under the agreement, MNST subsidiary would acquire substantially all of Bang Energy's assets, including a beverage production facility located in Phoenix, Arizona, for an undisclosed sum.
The APA will include acquiring Bang Energy's performance beverages and related Bang Energy businesses.
The deal is a move on Monster's part to capitalize on the growing energy drink category.
Bang Energy filed for Chapter 11 protections under the U.S. Bankruptcy Code in October 2022.
Monster held ~$3 billion in cash and equivalents as of March 31, 2023.
Price Action: MNST shares are trading lower by 1.29% at $56.70 on the last check Monday.