Wednesday, January 19, 2022

Monster Beverage to buy beer maker CANarchy Craft for $330M

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Energy drink maker Monster Beverage is entering the alcoholic beverage market through a $ 330 million contract for craft beer and hard seller CANarchy Craft Brewery Collective.

The cash deal, announced on Thursday, expands the trend of non-alcoholic beverage companies spreading into the alcoholic beverage industry as traditional boundaries between categories quickly blur.

Coca-Cola has partnered with brewer Constellation Brands to produce ready-to-drink cocktails under the Fresca brand, while rival PepsiCo has partnered with Boston Beer to produce Mountain Dew-branded alcoholic beverages.

Monster said the deal will add Cigar City, Oscar Blues, Deep Ellum, Perrin Brewing, Squatters and Wasatch artisan beer brands to its portfolio, but CANarchy restaurants are an exception.

Monster, whose largest shareholder is Coca-Cola, currently develops and sells energy drink brands such as Monster Energy, Burn Energy Drink and Full Throttle Energy Drink.

Monster buys the Oscar Blues beer brand as part of the deal.

The deal is a “springboard” to the alcoholic beverage field for Monster, its CEO Hilton Schlosberg said in a statement.

“The acquisition will provide us with a complete infrastructure, including people, distribution and licenses, as well as experience and production opportunities in the field of alcohol development,” Schlosberg said.

CANarchy supplies craft drinks in the United States and 20 countries and U.S. territories, and has seven production sites and 900 employees, according to its website.

Oscar Blues is a man who works with canned food on a conveyor belt in a cannery
Monster executives point to the acquisition of infrastructure to enter the alcohol market as one of the benefits of the deal.

The contract is expected to expire in the first quarter of this year.

In November, a source told Acesparks that it was considering a merger with Monster Constellation, but the CEO of Corona Extra and Modello Especial said at the conference that the company would only deal with the purchase of a small bolt.

“The acquisition of CANarchy Craft Brewery may mean that MNST has decided to go independent in terms of alcohol production, but it may still need a broader alcohol distribution network,” said RBC Capital Markets Nick Modi.

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