Monster Energy, Inc. buys energy giant EnergySource for $14.4 billion

Fortune article EnergySource, Inc., a Texas-based utility and provider of energy generation, has bought energy company Monster Energy for $1.6 billion.

The transaction closes on Jan. 1.

The combined company is the fifth-largest U.S. electricity company by revenue, according to the Energy Information Administration.

Monster Energy’s assets include power generation and transmission and distribution.

The company is also one of the biggest coal producers in the country.

Monster Energy reported net revenue of $1,851 million in fiscal year 2015, up 5.1 percent from a year earlier, according the company’s SEC filings.

In 2015, the company said it was adding 2,000 new jobs.

“The combination of our expertise in energy generation and our leadership in the field of energy infrastructure will provide our customers with the most reliable and efficient energy solutions in the world,” said Michael J. Bresch, president and CEO of Monster Energy.

EnergySource is a unit of Texas-New Jersey-based Energy Transfer Partners, which operates more than 100 oil and gas pipelines, transmission facilities and distribution facilities in the U.K. The energy provider is the second-largest provider of generation capacity in the United States, behind Texas-Arkansas.