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Wednesday, January 26, 2022

Oscar Blues and other Canarky brands sold to Monster Energy manufacturer

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.”

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