Keurig Dr Pepper is set to purchase the popular energy drink brand GHOST for just under $1 billion.
Keurig Dr Pepper announced today that it has agreed to buy a 60 percent stake in GHOST for around $990 million, followed by an acquisition of the remaining 40 percent stake in 2028. It marks Keurig Dr Pepper’s largest investment since Keurig purchased Dr Pepper Snapple Group for nearly $19 billion in 2018, according to the Wall Street Journal.
The first transaction is expected to be finalized by late 2024 or early 2025, and the beverage giant will purchase the final 40 percent stake at a pre-negotiated price, contingent on GHOST’s financial performance in 2027, according to a Keurig Dr Pepper press release.
The acquisition includes both GHOST Lifestyle LLC and GHOST Beverages LLC, the lifestyle sports nutrition brand co-founded by Dan Lourenco and Ryan Hughes in 2016, and its ensuing energy drink offshoot. Lourenco and Hughes will continue to lead GHOST, which has seen its net sales quadruple over the past three years, according to Keurig Dr Pepper.
In addition to pre-, during-, and post-workout supplements, and a long line of energy drink flavors in partnership with brands like Welch’s Warheads, Swedish Fish, and Sour Patch Kids, GHOST is also known for its product line of supplements for gaming, which the brand says include learning and memory-promoting substances, known as nootropics.
The beverage is also well-known in the festival space and has previously partnered with Insomniac Events at the promoter’s flagship massive EDC Las Vegas, Nocturnal Wonderland, and more.
Read Keurig Dr Pepper’s full announcement here.
Featured image from GHOST Energy.
