Your Favorite Craft Beer May Now Be Owned By Monster Beverage
Monster Energy drinks don't usually conjure images of hipsters sipping IPAs at the local brewery, but the extreme beverage company may be the new owner of your favorite craft beer. Monster Beverage Corp is the latest big business to jump into the alcoholic beverage market, and they hope to make a splash.
According to Food Dive, Monster Beverage Corp will acquire CANarchy Craft Brewery Collective as part of a massive $330 million deal. And they aren't the first beverage company to jump on the alcoholic beverage bandwagon. Coca-Cola recently joined forces with Molson Coors to produce Topo Chico Hard Seltzer, and Sam Adams teamed up with PepsiCo to create a Mountain Dew-inspired cocktail. It only makes sense that Monster would be the next company to get in on this trend.
There has been much speculation on whether or not the energy drink giant would produce its own hard seltzer, and while that option is still on the table, the purchase of CANarchy seems to indicate that Monster wants to dip its toe into the alcoholic beverage market via already established brands for now.
What brands did Monster buy from CANarchy?
When Monster Beverage Corp bought CANarchy Craft Brewery Collective, it acquired the sixth-largest craft brewery in the United States with seven established brand name beverages (per CANrchy Craft Brewery Collective). The upward sales trends set by the brewery must have caught Monster's attention along with their unique beers and hard seltzers.
According to The Wall Street Journal, Monster acquired CANarchy beer and hard seltzer brands that include: Cigar City, Deep Ellum, Squatters, Oskar Blues, Perrin Brewing, and Wasatch. Monster's interest in alcoholic beverages goes beyond beer and the company plans to "focus on and develop" Wild Basin Hard Seltzer, which is made by Oskar Blues.
By purchasing an independent brewery, Monster seems to be setting itself apart from other beverage companies entering the alcoholic beverage arena through partnerships. The energy drink company maintains that Monster and CANarchy will continue to operate independently with the possibility of hard seltzers and spirit-based drinks under the Monster label coming to market in the future.