Owoc said they sent a notice of termination to PepsiCo on October 23, just seven months after signing a partnership deal. His company “cited multiple issues and concerns regarding PepsiCo’s performance” as reasons for ending their business relationship.
Market observers are speculating that Bang Energy is probably concerned with PepsiCo particularly its acquisition of Rockstar Energy, which is taking much of its time. Owoc probably sees a conflict of interest on the part of the beverage giant.
PepsiCo vows to fulfill its obligations as Bang Energy’s exclusive distributor until October 2023
In response, PepsiCo released a statement expressing its “disappointment” citing that Vital Pharmaceuticals terminated their partnership “without cause especially given the rapid success we’ve had in significantly expanding the presence and availability of Bang Energy drinks.”
The beverage giant added, PepsiCo remains the exclusive distributor of Bang Energy drinks across the U.S. through October 2023. We will continue to fulfill our obligations under our agreement, which does not include any minimum purchase commitment. Serving our customers remains our top priority, while also defending and enforcing our exclusive rights granted in the agreement.”
