Monster Beverage and Vital Pharmaceuticals (which, together with certain of its debtor affiliates, does business as Bang Energy and VPX Sports) entered into an asset purchase agreement (APA) under which a subsidiary of Monster would acquire substantially all of Bang Energy’s assets, including a beverage production facility located in Phoenix. The transaction is subject to certain terms and closing conditions, which include obtaining bankruptcy court approval.
Under the terms of the APA, subject to satisfaction of certain closing conditions, Monster will acquire Bang Energy’s performance beverages and related Bang Energy businesses through the purchase of substantially all of Bang Energy’s assets.
While Monster is hopeful that the transaction will be completed, there is no guarantee that it will receive Bankruptcy Court approval. Bang Energy filed for Chapter 11 protections under the U.S. Bankruptcy Code in October 2022.
Evercore Group is acting as investment banker and Pachulski Stang Ziehl & Jones and Akerman are acting as legal counsel to Monster.
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.