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Keurig (KDP.US) is set to acquire functional beverage maker Ghost for over $1 billion.

Market IntelThursday, Oct 24, 2024 7:30 am ET

1min read

Zhitong Finance learned that Keurig Dr Pepper Inc. (KDP.US) has agreed to buy functional beverage maker Ghost for over $1 billion, according to media reports citing people familiar with the matter. The report said Keurig will invest an initial $990 million in cash to buy 60% of Ghost, which sells drinks such as Sour Patch Kids and Warheads. The company plans to buy the remaining 40% in 2028.

The deal is expected to be announced later Thursday when Keurig releases its quarterly earnings, the company said, adding that it will be its largest since buying Dr Pepper Snapple Group for nearly $19 billion in cash in 2018.

As of writing, Keurig Dr Pepper's stock price fell 1.23% before the U.S. market opened, and the company's stock price has risen 26% over the past 12 months.

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