Monster Beverage Enters Alcohol Category With $330M Play For CanarchyJanuary 14, 2022
Energy drink giant Monster Beverage Corp has purchased the Canarchy Collective of brewers for $330 million. The buy marks Monster’s entry into the beverage alcohol sector, bringing the Cigar City, Oskar Blues, Deep Ellum, Perrin Brewing, Squatters, and Wasatch breweries under the Monster umbrella, while excluding Canarchy’s restaurant holdings. Monster is also interested in expanding the portfolio into spirits-based offerings, the Wall Street Journal reported.
Monster’s move follows other recent entries from non-alcoholic beverage companies into the drinks space, with Coca-Cola (Monster’s largest shareholder) teaming up with Constellation Brands for Fresca spirits-based RTDs and with Molson Coors for Topo Chico hard seltzer, as well as PepsiCo partnering with Boston Beer for Hard Mtn Dew, among other collaborations.—Shane EnglishSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.