Keurig Dr Pepper Acquires Majority Stake in Ghost for $990 Million

The beverage giant plans to fully acquire the energy drink brand by 2028, marking its largest deal since 2018.

Keurig Dr Pepper will initially acquire 60% of Ghost for $990 million, with plans to purchase the remaining 40% in 2028.
Ghost, known for its unique flavors and partnerships with brands like Sour Patch Kids, has seen its sales quadruple over the last three years.
The acquisition aligns with Keurig's strategy to expand in the energy drink market, following previous investments in brands like C4 Energy.
Ghost's co-founders, Dan Lourenco and Ryan Hughes, will continue to lead the company under Keurig Dr Pepper's ownership.
Keurig Dr Pepper's stock fell after the announcement, as the company also reported lower-than-expected quarterly sales.