07:33 AM EDT, 10/24/2024 (MT Newswires) -- Keurig Dr Pepper ( KDP ) said Thursday that it has agreed to acquire Ghost, a lifestyle sports nutrition business, starting with a 60% stake for $990 million.

Keurig said it plans to acquire the remaining 40% by 2028 and consolidate Ghost's financial results upon closing.

The company said the deal, slated to be completed by late this year or early next year, would be neutral to modestly accretive to adjusted EPS by next year.

Keurig said it will invest up to $250 million to shift distribution of Ghost Energy, a ready-to-drink energy brand, to its network starting mid-2025.

Price: 36.25, Change: -0.45, Percent Change: -1.23