Energizing stuff: Monster Beverage takes control of Bang Energy
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Monster Beverage Corporation (NASDAQ:MNST) announced late on Monday that it completed its acquisition of Vital Pharmaceuticals and the Bang Energy business for a purchase price of approximately $362M subject to adjustments.
The acquired assets include Bang Energy beverages and a beverage production facility in Phoenix, Arizona.
As part of the transaction, the beverage company noted that it is also acquiring a state-of-the-art beverage plant in Phoenix, and will be increasing production at the facility to accommodate certain brands.
"We are enthusiastic about the opportunities this acquisition presents to us and believe that the Bang brand will fit well within our broader portfolio of energy drink brands," stated Monster Beverage (MNST) CEO Rodney Sacks.
Monster Beverage (MNST) is due to report earnings on August 3. Consensus estimates are for revenue of $1.87B and EPS of $0.39 to be reported. Heading into the report, 9 of the last 12 EPS revisions from analysts have been to the upward side. Monster Beverage (MNST) has missed the consensus EPS mark in six of the last seven quarters.
Shares of Monster Beverage (MNST) are up about 13.5% on a year-to-date basis.
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