Sales data from NielsenIQ or other market research firms

Keurig Dr Pepper Buys 60% of Ghost Energy for $990 Million, Plans Full Acquisition by 2028

Oct 24, 2024, 01:42 PM

Keurig Dr Pepper has agreed to acquire energy drink maker Ghost in a deal valued at over $1 billion, further raising its bets on the energy drink market. The company will make an initial cash investment of about $990 million, financed by a new term loan, to secure a 60% ownership stake in Ghost, with plans to acquire the remaining 40% in 2028. Founded in 2016, Ghost has experienced significant growth, with sales quadrupling over the last three years and volume up 20.9% over the past 52 weeks, while average prices fell 0.4%, according to NielsenIQ data. The deal values Ghost at approximately three times its projected 2024 net revenue. Keurig Dr Pepper already owns a 30% stake in Nutrabolt, the maker of C4 Energy.