Monster Enters the Alcoholic Beverage Sector With a $330 Million Acquisition
Monster Beverage Corporation has entered into a definitive agreement to acquire CANarchy Craft Brewery Collective LLC, a craft beer and hard seltzer company for $330 million in cash.
The transaction will bring the Cigar City (Jai Alai IPA and Florida Man IPA), Oskar Blues (Dale’s Pale Ale and Wild Basin Hard Seltzer), Deep Ellum (Dallas Blonde and Deep Ellum IPA), Perrin Brewing (Black Ale), Squatters (Hop Rising Double IPA and Juicy IPA) and Wasatch (Apricot Hefeweizen) brands to the Monster beverage portfolio. The transaction does not include CANarchy’s stand-alone restaurants.
The transaction is expected to close in the first calendar quarter of 2022 and is subject to customary closing conditions, including regulatory approvals. Monster’s organizational structure for its existing energy beverage business will remain unchanged. CANarchy will function independently, retaining its own organizational structure and team, led by Tony Short.
