Even though it sounded logical, Keurig Dr Pepper Inc. (KDP) is not pursuing an acquisition of the Bang energy drink brand, KDP announced today.
A Bloomberg Business story on Aug. 18 said “people with knowledge of the matter” told them KDP was is in talks to acquire Vital Pharmaceuticals Inc., the privately held owner of Bang Energy drinks. Those sources valued the deal at $2-3 billion.
Neither company commented to Bloomberg. But the story got repeated enough, including here, that KDP put out today’s statement:
"As we have shared previously, our top capital allocation priority is growing our business through M&A and brand/distribution partnerships. Therefore, we are active in evaluating many opportunities that arise, including in the energy space; however, we are not pursuing a partnership with Vital Pharmaceuticals for the Bang brand.”
