After taking on all comers in a self-styled “David vs. Goliath” journey to become a billion dollar energy drink brand, could Bang be ending with a whimper?
The company and its CEO Jack Owoc have repeatedly shown an uncanny ability to recover from legal setbacks with rival brands and questionable product claims, but with this week’s Chapter 11 bankruptcy filing, the battle shifts to a new and more uncertain arena. VPX must now either find a way to refinance the company’s considerable debt – which includes multimillion dollar penalties from multiple lawsuits and a 5% royalty fee on all future Bang sales – or potentially find a buyer outright. Ever defiant, Owoc says the company is moving ahead with its rebuilt distribution network, now up to 269 DSD partners nationwide, but with the large strategic buyers already spoken for within the category, helping the company rebound post-Pepsi while navigating bankruptcy proceedings will be a significant challenge.
BevNET’s edit team sat down to unpack the news and discuss its impact on the present and future of Bang.