Bang Energy has fallen
Plus: Just let Jack Owoc run Bud Light!
Editor’s note: [extremely Michael Corleone voice] Just when I thought I was out, they pull me back in! I know I said to expect me back in your inbox later next week, but a pair of late-breaking items this week felt worth one last dispatch, so here we are. I swear this is it until my post-holiday return.—Dave.
Don’t cry because it’s over, smile because it happened: on Thursday, BevNET broke the news that Monster Beverage Corporation (MBC) was indeed the winner of the bankruptcy auction for the parent company of Bang Energy, Vital Pharmaceuticals (VPX). Pending review (more on that below), the former will scoop up the latter for just $362 million—a massive sum, to be sure, but nothing like the billion-plus valuations Bang Energy was bringing in a short 18 months ago. Under the maniacal, fetal-tissue-fueled leadership of founder, ex-CEO, and forever Fingers’ editorial fascination Jack Owoc, the beverage outsider rose fast, but fell faster. And now, the jig is basically up.