Monster lands Bang Energy's assets out of bankruptcy
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Monster Beverage Corporation (NASDAQ:MNST) announced on Monday that the company entered into an asset purchase agreement to acquire most of Bang Energyâs assets.
The asset deal will include Monster Beverage (MNST) taking control of a beverage production facility located in Phoenix, Arizona. The transaction is subject to certain terms and closing conditions, which include obtaining bankruptcy court approval. 
Bang Energy filed for Chapter 11 protections under the U.S. Bankruptcy Code in October of 2022. By picking up Bank, Monster Beverage (MNST) will have an edge over Red Bull in the closely-contested battle for the top energy drink market share position. A recent batch of Nielsen data showed energy drink sales were up 13.1% over the last four-week tracking period in comparison to a year ago and were 12.5% higher over the last 12 weeks. Pricing contributed to much of the energy drinks growth, but volume has held up better than other foods and beverage categories amid the economic headwinds. Monster Beverage (MNST) held 37% market share and Red Bull claimed a 35% market share position. Celsius Holdings (CELH) held 7% market share and PepsiCo (PEP) brands claimed 5%. Bang's market share declined down to 2% amid the bankruptcy proceedings of the parent company. As a whole, energy drink sales continue to outpace soda sales and alcoholic beverage sales.
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