CORONA, Calif. — Monster Beverage Corp. is acquiring Canarchy Craft Brewery Collective LLC, a craft-beer and hard-seltzer company, for $330 million.
The move provides a springboard for the energy-drink maker to enter the alcohol beverage sector, Monster’s Vice Chairman and Co-CEO Hilton Schlosberg said.
“The acquisition will provide us with a fully in-place infrastructure, including people, distribution and licenses, along with alcoholic beverage development expertise and manufacturing capabilities in this industry,” he said.
Monster will build and expand upon Canarchy’s existing brands with innovative new products, Monster’s Chairman and Co-CEO Rodney Sacks said.
The transaction, which the companies expect to close in first-quarter 2022, will bring the Cigar City, Oskar Blues, Deep Ellum, Perrin Brewing, Squatters and Wasatch brands to Monster’s beverage portfolio. The deal does not include Canarchy’s standalone restaurants.
Canarchy will function independently of Monster, retaining its own organizational structure and team led by CEO Tony Short.
“The team at Canarchy is thrilled to be joining Monster,” Short said. “We look forward to capitalizing on the combined expertise of Monster and Canarchy to further strengthen our current alcoholic product offerings, expand our product portfolio to meet the ever-changing needs of our customers and to grow our business.”
Monster Beverage Corp., Corona, Calif., is known for its Monster Energy drink and its spinoffs including Monster Energy Ultra, Monster Maxx, Java Monster, Monster Rehab and more.
Canarchy was founded in 2015 as a collective of like-minded brewers dedicated to bringing high-quality, innovative flavors to craft beer drinkers, it said. It produces craft beverages throughout the United States, U.S. territories and 21 countries.
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