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Keurig Dr Pepper (KDP), the soft drinks and coffee firm, has announced that it has entered into an agreement to acquire Ghost Lifestyle and Ghost Beverages (collectively “Ghost”) for $990 million.
Founded in 2016, Ghost is a brand of sports nutrition products, energy drinks, dietary supplements, and apparel, anchored by its flagship energy drink brand Ghost Energy.
Commenting on the move, KDP chief executive officer Tim Cofer said: “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. This acquisition strengthens our position in the attractive energy drink category, accelerating our portfolio evolution toward consumer-preferred, growth-accretive spaces through a disciplined deal structure”.
GHOST CEO and co-founder Dan Lourenco added: “As we thought about our company’s next chapter, KDP’s track record of cultivating disruptive brands, similar challenger mindset, and shared vision for the energy category and beyond made it the right home for our brand and team. We are excited to pair KDP’s insights and capabilities with our products and people and know that together we will continue to scale and build GHOST towards our vision of a 100 year brand”.
The transaction is subject to customary closing conditions, with the initial step expected to close in late 2024 or early 2025. KDP will initially acquire a 60% stake in GHOST, with the remaining 40% set to be acquired in 2028.
Source: Keurig Dr Pepper
