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Monster enters into agreement to acquire Bang Energy's assets
FoodBev Media

FoodBev Media

4 July 2023

Monster enters into agreement to acquire Bang Energy's assets

Monster Beverage and Vital Pharmaceuticals (VPX Sports) have entered into an asset purchase agreement under which a Monster subsidiary would acquire all of Bang Energy’s assets. The announcement follows last week’s news that a notice of auction for the sale of VPX Sports had been cancelled, with Monster set to complete the acquisition. The acquisition includes Bang Energy’s performance beverages and related businesses and a beverage production facility located in Phoenix, Arizona, US. The transaction is subject to certain terms and closing conditions, which include obtaining Bankruptcy Court approval. While Monster said it is hopeful that the transaction will be completed, there is no guarantee that it will receive Bankruptcy Court approval. VPX filed for Chapter 11 bankruptcy in Florida, US, in October 2022 to help the company recover from multiple lawsuits that had impacted its “short-term outlook” and a cost impact of “reconstituting the company’s national distribution network that resulted in a summer revenue gap”. Huron Consulting Group is acting as financial advisor, Rothschild & Co is acting as investment banker and Latham & Watkins and Berger Singerman are acting as legal counsel to Bang Energy. C Street Advisory Group is acting as strategy and communications advisor to Bang Energy. The debtors will proceed with the sale hearing scheduled for 12 July to seek court approval of the sale of VPX Sports’ assets to Monster’s subsidiary, Blast Asset Acquisition.

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