Monster Beverage Buys Owner of Craft Breweries Cigar City, Oskar Blues for $330 Million

- Advertisement -

Energy-drink maker Canarky enters beer, hard-seltzer business with purchase of Craft Brewery Collective

- Advertisement -

The deal comes at a time when soda makers and liquor companies have come under each other to drive growth.

- Advertisement -

constellation brand Inc.

Said last week that it had struck a deal with Coca-Cola Co.

- Advertisement -

To launch canned cocktails under the Fresca soda brand. Last year, Coke introduced an alcoholic version of its Topo Chico seltzer in partnership with Molson Coors Beverages. Co.

Meanwhile, PepsiCo Inc. is set to introduce an alcoholic version of Mountain Dew in a venture with Samuel Adams brewer Boston Beer. Co.

and Anheuser-Busch InBev To

This month is offering a range of Bud Light-branded hard sodas in cola, cherry-cola, orange and lemon-lime flavors.

In 2019, Rodney Sachs, who is now the president and co-CEO of Corona, California-based Monster, told shareholders that the company has its sights on hard seltzers, malt drinks and spirits.

At the time Mr. Sachs said, “We have an appetite to look at alternative brands and develop more beverages in the non-alcoholic … as well as the alcoholic market.”

The Canarky acquisition includes the Cigar City, Oscar Blues, Deep Alum, Perrin Brewing, Squatters and Wasatch brands, but does not include Canarky’s stand-alone restaurants.

Monster said it expects the transaction to be completed during the first calendar quarter, adding that the organizational structure for the energy-beverage business will remain unchanged. Canarkey, founded in 2015, will continue to operate independently, Monster said.

While Canarkey is primarily a craft-beer brewer, Mr. Sachs said on a call with investors on Thursday, it also has hard seltzer brands like Wild Basin, “and that’s something we’re going to focus on and focus on.” planning to develop.” Separately, Monster is also developing its own hard-seltzer brand, which is “moving very quickly now,” he said.

Monster officials said they are also exploring spirit-based drinks.

Monsters shares closed up 0.4% at $94.37 on Thursday.

Write Jennifer Maloney [email protected] . Feather


- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox