Oskar Blues and other CANarchy brands sold to Monster Energy maker


Monster Beverage Corporation, maker of Monster Energy drink, is acquiring Colorado’s Oskar Blues Brewery and several others, as it makes its first foray into the alcoholic beverage space.

According to an announcement Thursday, Monster has agreed to buy CANarchy Brewery Collective, which includes Oskar Blues, Florida’s Cigar City Brewing Co., Dallas’ Deep Ellum Brewing Co., Michigan’s Perrin Brewing Co., and Utah’s Squatters and Wasatch breweries.

The $330 million cash deal is expected to close in the first quarter of 2022 and does not include CANarchy’s stand-alone restaurants. CANarchy will function independently, retaining its own organizational structure and team, led by current CEO Tony Short, according to the announcement.

“This transaction provides us with a springboard from which to enter the alcoholic beverage sector,” said Hilton Schlosberg, Monster’s vice chairman and co-chief executive officer. “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.”

Stay connected with us on social media platform for instant update click here to join our  Twitter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest Lifestyle News Click Here 

Read original article here

Denial of responsibility! Rapidtelecast.com is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
Leave a comment