Monster Beverage To Acquire CANarchy Craft Brewery Collective For $330m

0
Monster Beverage
Monster Beverage To Acquire CANarchy Craft Brewery Collective For $330m

Monster Beverage is entering the alcohol market with the $330 million acquisition of craft beer and hard seltzer maker, CANarchy Craft Brewery Collective.

The deal will bring several alcohol brands into Monster’s portfolio, including: Cigar City, Oskar Blues, Deep Ellum, Perrin Brewing, Squatters and Wasatch. However, the transaction does not include CANarchy’s restaurants.

According to Monster Beverage, the acquisition won’t affect the organisational structure of its existing energy drink business.

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

Monster Beverage To Acquire CANarchy Craft Brewery Collective For $330m

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

CANarchy’s CEO, Tony Short, said: “We look forward to capitalising 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”.

Read Also:  TVS Confam Naija Dance Challenge

The transaction is expected to close in Q1 2022 and is subject to customary closing conditions.