Monster energy drink maker Monster Beverage Corporation is acquiring Colorado’s Oscar Blues Brewery and several others, as it forays into the alcoholic beverage space for the first time.
According to an announcement Thursday, Monster has agreed to buy Canarkey Brewery Collective, which includes Oscar Blues, Florida’s Cigar City Brewing Company, Dallas’s Deep Alum Brewing Company, Michigan’s Perrin Brewing Company and Utah’s Squatters and Wasatch Breweries. Are included.
The $330 million cash deal is expected to close in the first quarter of 2022 and does not include Canarkey’s stand-alone restaurants. Per the announcement, Canarkey will operate independently, while maintaining its own organizational structure and team, under the leadership of current CEO Tony Short.
“This transaction provides us with a springboard from which to enter the alcoholic beverage space,” said Hilton Schlossberg, Monster’s vice chairman and co-CEO. “The acquisition will provide us with the alcoholic beverage development expertise and manufacturing capabilities in this industry as well as the complete infrastructure including people, distribution and licensing.”
Representatives for Canarkey and Oscar Blues were not immediately available for comment. In a statement, Short said he was “thrilled” to join Monster’s team.
He added, “We look forward to capitalizing on the combined expertise of Monster and Canarkey to further strengthen our existing alcoholic product offerings, expand our product portfolio to meet the changing needs of our customers and grow our business.” to be expanded.”
This is the latest big-name beer merger in Colorado. In November, the parent company of New Belgium Brewing Company announced that it would acquire Bells Brewery from Michigan, merging two powerhouse forces in the beer industry.
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