Monster Beverage Inc. and Harmony Beverage Corp. announced Wednesday that they have entered into a definitive agreement to acquire Monster Beveraging Inc. for an aggregate purchase price of $30.9 billion.
In a press release, the companies said that they expect to close the transaction in the first half of 2018.
“We look forward to bringing the company’s existing brands to life with a fresh, new, and differentiated brand that will redefine the category and position it to take on the challenges of tomorrow,” said Monster Beverager Chief Executive Officer and Co-Founder Robert Buss.
“This acquisition is an exciting step forward for our industry and is the next logical step for our brands.”
The acquisition will result in a number of additional brands that will be launched in the future, including the Monster brand, which will be the flagship of the company.
The purchase price includes a cash consideration of approximately $6 billion.
The company has been valued at approximately $32.9 in 2019, according to FactSet data.
Monster Beveragers shares were up 3.4% to $20.96 in premarket trading.