Monster Beverage Corp. (MNST) and Bang Energy recently confirmed that there could be a merger between the two energy drink companies. Monster has struck a deal with its rival Bang Energy to acquire its assets after it filed for bankruptcy. The U.S. bankruptcy court has to give a green signal for the deal to go through.
On July 3, both the beverage companies released a joint statement that said Monster would get “substantially all of Bang Energy’s assets.” The companies did not reveal financial terms but said that the deal remained subject to U.S. Bankruptcy Court’s approval.
On Thursday, (29 June) a leaked court document showed that there was only one successful bidder for the assets of VPX. The assets were to be auctioned on June 30. The bidder was Blast Asset Acquisition, which is a subsidiary of Monster Beverage Corp.
VPX’s Bang Energy has been facing troubles these past years. In April, Monster won its second case against VPX as it received a permanent injunction that prevented Bang Energy from marketing its drinks with a narrative that said that its drinks contained “Super Creatine.”
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Earlier in November Vital Pharmaceuticals agreed to remove the mention of the words “Super Creatine” temporarily. The company also replaced its message on its cans and added “Fuel your destiny” as the new message.
In October, VPX filed for bankruptcy, after Monster won its lawsuit against VPX, and the company was ordered to pay $293 million for false advertising.
Although Bang Energy has been facing uphill battles with Monster for the past year or so, its major troubles began when it broke up its distribution partnership with PepsiCo, in 2020. Bang Energy’s then CEO Jack Owoc accused PepsiCo of destroying the Bang Energy brand in a premeditated manner. PepsiCo has a similar brand called Gatorade. He was later removed and had to delete the comments he made on social media.
If Monster manages to acquire Bang Energy, it will also be a boost for Coca Cola as it has a stake in the beverage brand and Coca Cola and PepsiCo have always been rivals; from time immemorial.
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