By Ben Glickman

Monster Beverage said Monday it would acquire bankrupt beverage maker Bang Energy.

The Corona, Calif.-based producer of Monster Energy drinks said it had entered into an agreement to acquire Bang Energy's assets from parent company Vital Pharmaceuticals, including a production facility in Phoenix.

Monster Beverage didn't disclose the terms of the agreement but said in a June 28 U.S. bankruptcy court filing that it would pay $362 million to acquire Bang and its assets. The proposed deal is still subject to approval by the court.

Bang filed for Chapter 11 protections in October 2022.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

July 03, 2023 08:50 ET (12:50 GMT)

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