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Alani Nu Energy could be in the M&A spotlight as strategics' thirst for energy drinks remains unquenched. 

Why it matters: Mature beverage giants — from soda makers to brewers — need new products to drive growth.

In addition to C4 Energy, Alani Nu is the only other acquisition target that makes sense for a large strategic acquirer like Keurig Dr Pepper, says Bang Energy CEO Jack Owoc.

This year, energy drink sales are expected to hit about $68 billion and set to grow to nearly $99 billion by 2032, based on a CAGR of 7%, according to Future Market Insights.

Catch up fast: After nixing talks with Bang Energy, Keurig Dr Pepper may seek a new acquisition candidate in the category, Axios reported.

Details: Alani Nu, which sells a line of nutritional supplements and products in addition to energy drinks. was founded by social media influencer Katy Hearn.

The company expanded into coffee and coffee protein drinks this year.

Congo Brands lists Alani Nu among the portfolio businesses on its website, though it doesn't provide many details.

Along with Alani Nu, Congo lists hydrating sports drink brand Prime, helmed by social media stars Logan Paul and KSI. 

Alani Nu and Congo Brands did not respond to requests for comments.

By the numbers: The company generated about $209 million in sales and grew nearly 570%, according to BevNet, which conducted a deep dive of the energy drink space.

State of play: Industry leader Red Bull, which generated nearly $8.9 billion in turnover in 2021, is owned by Austrian billionaire Dietrich Mateschitz, who took out a $765 million dividend last year.

Monster, the other category leader, is publicly listed, though it was reported to be in merger talks with Corona brewer Constellation Brands this year.

Monster also produces brands such as Reign, Full Throttle and Nos, the latter two of which were transferred to it by Coca-Cola, which took a 16.7% stake in the energy drink group. 

Yes, and: PepsiCo already owns Rockstar and recently invested $550 million in Celsius.

A Shoc raised a $29 million Series B round from investors including Keurig Dr Pepper, which produces and distributes the product, as well as drink brand Venom Energy.

Xyience was acquired by Big Red, which was bought by Keurig Dr Pepper in 2018, according to PitchBook.

Zoa, co-founded by Dwayne "The Rock" Johnson, received investment from Molson Coors Beverages.

Rip It is owned by La Croix maker National Beverages Corp.

And Ghost has partnered with and attracted an investment from beer giant AB InBev via ZX Ventures last year.

The bottom line: With so many energy brands tied up with various investors and strategics, competition for unclaimed brands will heat up — and we wonder about a rollup opportunity in the category. 

Two other potential investment candidates include Uptime Energy and G Fuel, both fast-growth businesses not yet connected to a major strategic.

Alani Nu is among dwindling energy drink M&A targets

Targets for acquisition have slowly disappeared.

Illustration of a soda can with a quarter as the top.

Retail

Alani Nu Energy could be in the M&amp;A spotlight as strategics&#x27; thirst for energy drinks remains unquenched. Why it matters: Mature beverage giants — from soda makers to brewers — need new products to drive growth.

Alani Nu is among dwindling energy drink M&A targets

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