As Bang Energy goes on the auction block via bankruptcy proceedings, Monster Beverage is the most likely buyer, according to investment banking company Stifel, CSP Daily News reported. Stifel analysts said that according to court documents, Bang plans to sell the business. “We view Monster as best-positioned to acquire Bang given it is the largest creditor in bankruptcy and co-rights holder to a 5% perpetual royalty/license for use of the Bang beverage trademark,” Investing.com reported. On Oct. 10, the maker of Bang energy drinks, Vital Pharmaceuticals Inc., which does business as VPX Sports, filed for protection under chapter 11 in the Southern District of Florida. Vital Pharmaceuticals said all business operations would continue. The filing came after a California jury ruled Sept. 29 that Bang must pay Monster Energy $293 million in damages for falsely advertising the “super creatine” ingredient of Bang Energy. The case lasted a month and revolved around claims of false advertising and trade secrets against the company and Jack Owoc, who was CEO at the time. In September, the jury found that Bang Energy and Owoc "acted willfully and deliberately in violating the federal Lanham Act by falsely advertising the health benefits of Bang. That decision puts both Bang and Owoc on the hook for possible enhanced damages, which could triple the award,” the USA Herald reported. Last month, VPX named Chief Transformation Officer John DiDonato an interim CEO, replacing Owoc, effective immediately.
