- Monster Beverage Corp (NASDAQ:MNST) has agreed to acquire CANarchy Craft Brewery Collective LLC, a craft beer and hard seltzer company, for $330 million in cash.
- The deal is expected to bring Cigar City, Oskar Blues, Deep Ellum, Perrin Brewing, Squatters, and Wasatch brands to the Monster beverage portfolio. The transaction does not include CANarchy’s stand-alone restaurants.
- The transaction is expected to close in the first calendar quarter of 2022.
- Following the deal’s closing, CANarchy will function independently, retaining its own organizational structure and team, led by Tony Short.
- “This transaction provides us with a springboard from which to enter the alcoholic beverage sector,” said Monster’s Vice Chairman and Co-CEO Hilton Schlosberg.
- Monster Beverage held $2.9 billion in cash and equivalents as of September 30, 2021.
- Price Action: MNST closed lower by 0.63% at $93.98 on Wednesday.
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