Keurig Dr Pepper Inc is not pursuing an acquisition of the manufacturer of Bang Energy drinks, a spokesperson for the coffee maker said on Friday 19 August.
Details
The company's statement denying the deal talks came a day after Bloomberg News reported that Keurig Dr Pepper was looking to buy Vital Pharmaceuticals Inc, or VPX.
"As it relates to the speculation yesterday on our interest in Bang Energy, we are currently not pursuing an acquisition of the business," Keurig Dr Pepper spokesperson said.
The report, citing sources, said VPX could be valued at over $2 billion, with one of them saying the figure could be more than $3 billion, even though the talks are in an early stage.
Keurig Dr Pepper, which makes soft drinks, coffee and juice, had revenue of nearly $13 billion and employs around 27,000 people.
"Top Capital Allocation Priority"
"Our top capital allocation priority is growing our business through M&A and brand/distribution partnerships...we are quite active and look at a lot of the deals that arise," Keurig Dr Pepper spokesperson said.
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