Monster Beverage Corp. has become the latest soft-drink processor to enter the alcohol category, with plans to acquire CANarchy Craft Brewery Collective LLC.
The $330 million deal would bring CANarchy’s beer and hard seltzer products into Monster’s portfolio. CANarchy would function as a separate unit under the continuing leadership of its CEO, Tony Short. The deal does not include CANarchy’s standalone restaurants.
CANarchy’s brands include Cigar City, Oskar Blues, Deep Ellum, Perrin Brewing, Squatters and Wasatch, comprising beers, ales and hard seltzers.
The deal is subject to regulatory approval and is expected to close in the first quarter of this year.
“This transaction provides us with a springboard from which to enter the alcoholic beverage sector,” Hilton Schlosberg, Monster’s vice chairman and co-CEO, said in a statement. “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.”