Canarchy Craft Brewery Collective is now operating under the name Monster Brewing Co.
Canarchy’s new alcohol products, the Beast Unleashed and Nasty Beast Hard Tea, now represent the majority of Corona, California-based Monsters’s alcohol beverage sales, Monster said.
This change will better align the business with Monster Beverage Corp.’s brand equity, Monster said, particularly as it expects these products to continue to play an increasingly vital role in the future activities of Longmont, Colorado-based Canarchy.
“We entered the alcohol beverage sector with the acquisition of Canarchy in February 2022, providing us with a fully staffed organizational infrastructure, full distribution in place and manufacturing capabilities,” said Hilton Schlosberg, vice chairman and co-CEO of Monster Beverage Corp. “During the past two years, we integrated Canarchy’s infrastructure to develop, introduce and market new products that are becoming leading brands in the flavored malt beverage space.”
Among Top Stock Picks
Monster remains one of New York-based Goldman Sach’s top picks, it said in its fourth-quarter Beverage Bytes survey, released Jan. 30 and which represents about 40,000 retail locations—or about 27% of the c-store channel.
“We see a positive set up for the stock this year and beyond given a number of growth drivers, including a robust innovation pipeline, with retailers broadly upbeat on Nasty Beast Hard Tea, where some indicated that they expect the brand to take at least some share from Twisted Tea,” Goldman Sachs said in its report.
While management didn’t announce a price increase in the United States at their recent investor meeting, “they went as far to say that they want to raise prices as quickly as possible, which leads us to believe Monster could raise prices soon, a key positive catalyst for the stock,” Goldman Sachs continued.
Monster will continue to operate independently under the management of its president, Tony Short, and his team, said Rodney Sacks, Monster’s chairman and co-CEO.
“We are pleased that the strategy of combining the strengths of both organizations is proving successful as we continue to develop and roll out innovative new products in the flavored malt beverages space and beyond,” Sacks said. “We are particularly proud that the Beast Unleashed was the best-selling new beer brand in 2023.”
Short added, “Our new corporate identity operating as Monster Brewing Co. affords an even greater opportunity to grow, not only with the introduction of innovative new products but also with our well-established core brands, which are cherished by a loyal consumer base.”
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