Celsius Holdings (CELH) announced the acquisition of Big Beverages for $75M. The transaction was completed using cash on hand and closed on November 1. The transaction provides Celsius with a 170,000-square-foot, modern manufacturing and warehouse facility that is expected to provide greater supply chain control, quicker innovation cycles and greater production flexibility. Charlotte, North Carolina-based Big Beverages is a longtime Celsius co-packer, and the facility will continue to be principally dedicated to the manufacture of Celsius products. The Big Beverages management team and workforce are expected to remain with the operation.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CELH:
- Celsius Holdings Appoints New Board Member from PepsiCo
- Celsius Holdings names Israel Kontorovsky to board
- Celsius Holdings call volume above normal and directionally bullish
- Keurig Dr Pepper to acquire energy drink maker Ghost for over $1B, WSJ reports
- Celsius Holdings price target lowered to $68 from $72 at Ladenburg