Monster acquires craft beer maker

Monster Beverage Corporation has announced that it has acquired CANarchy Craft Brewery Collective LLC, a craft beer and hard seltzer company for $330 million.

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 organisational structure for its existing energy beverage business will remain unchanged, as will that of CANarchy, which will function independently, retaining its own organisational structure and team, led by Tony Short.

“This transaction provides us with a springboard from which to enter the alcoholic beverage sector,” said Monster’s vice chairman and co-chief executive officer, Hilton Schlosberg. “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.”

“The addition of CANarchy and its brands to the Monster beverage portfolio represents an excellent opportunity to further grow our already robust product offerings,” added Monster’s chairman and co-chief executive officer Rodney Sacks. “We are excited to build and expand upon CANarchy’s existing brands with innovative new products.”