The Federal Trade Commission (FTC) on Friday terminated its review period for Monster’s proposed acquisition of Vital Pharmaceuticals, the parent company of Bang Energy, clearing the way for the transaction to be completed later this month, according to an internal communication viewed by BevNET.
“Late last night, the FTC officially communicated an early termination of their review period, clearing the way for the Monster and VPX transaction to progress to closing,” read a June 30 email titled “Important Team Update” sent to staff from interim CEO and chief transformation officer John DiDonato.
Monster was revealed as the winning bidder for Vital Pharmaceuticals in court documents filed on Wednesday in the U.S. Bankruptcy Court in Florida.
In a press release this morning, Monster confirmed its purchase agreement for all of Bang’s assets, including its beverage production facility in Phoenix, AZ.
The email indicates that Monster “intends to offer employment to all employees working in the VPX warehouse and production facilities in Phoenix, AZ.” Monster “strongly encourages” all existing VPX employees who are interested in working at Monster to email the company.
A sales hearing is scheduled for Wednesday, July 12.