Keurig Dr Pepper Acquires GHOST Energy For $1 Billion
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Keurig Dr Pepper (KDP), the giant behind the world-renowned soft drink, has announced a significant acquisition for its portfolio. The company has entered into an agreement to acquire a majority stake in GHOST, a popular energy drink brand, for approximately $990 million.
Founded in 2016 by Dan Lourenco and Ryan Hughes, GHOST has experienced rapid growth in recent years. And far from being just a store product, recently GHOST has also been the energy drink of choice at several Insomniac festivals and events, which farther boosts its popularity among both general public and ravers.
KDP plans to acquire a 60% stake in GHOST initially, with the option to purchase the remaining 40% in 2028. The initial transaction is expected to close later this year or early next year. And to further support the growth of the energy drink, Keurig Dr Pepper intends to invest up to $250 million to transition GHOST Energy’s distribution to its direct store delivery network.
GHOST’s founders, Dan Lourenco and Ryan Hughes, will continue to lead the brand. KDP CEO Tim Cofer expressed enthusiasm about the acquisition, stating that “GHOST is a differentiated brand with significant growth potential, and we are excited to partner with its founders to take the business to the next level“.
The acquisition of GHOST aligns with KDP’s strategy of investing in high-growth beverage brands. By adding GHOST to its portfolio, KDP aims to strengthen its position in the energy drink category and drive future growth.
[H/T] USA TODAY
