Beverage giant acquiring Las Vegas energy brand
Beverage giant Keurig Dr Pepper is set to acquire Las Vegas-based sports beverage and lifestyle brand Ghost by 2025.
Founded in 2016, the brand is known for its ready-to-drink energy brand, sports nutrition supplements and brightly colored packaging and can be found in major retailers GNC, Target and Walmart, among others. Over the past three years, Ghost’s net sales have “more than quadrupled,” making them a leading energy brand, according to a news release announcing the sale.
“We could not be more excited to build the future of GHOST together with KDP,” said co-founders Dan Lourenco and Ryan Hughes, who will continue to lead the company after acquisition, in a statement. “As we thought about our company’s next chapter, KDP’s track record of cultivating disruptive brands, similar challenger mindset.”
The company couldn’t be reached for additional comment on what the deal means for Las Vegas operations.
The acquisition hopes to expand KDP’s energy portfolio, which also includes Xycience Energy and multiple coffee brands like McCafe, Kahula and Newman’s Own Organics. The company also owns such brands as Dr Pepper, Hawaiian Punch, Canada Dry, Sunkist and Snapple.
“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,” said Tim Cofer, KDP chief executive officer, said in a statement. “This acquisition strengthens our position in the attractive energy drink category.”
KDP will purchase a 60 percent stake in Ghost Lifestyle LLC and Ghost Beverages LLC, collectively Ghost, at $990 million by the end of 2024 or early 2025. The remaining 40 percent will be acquired in 2028 at a pre-negotiated valuation scale, contingent on Ghost’s 2027 performance.
Additionally, KDP will make a $250 million investment to transition the Ghost Energy’s distribution to the company’s direct store delivery network.
Contact Emerson Drewes at edrewes@reviewjournal.com. Follow @EmersonDrewes on X.
