Monster Beverage Corporation has entered into a definitive agreement to acquire CANarchy Craft Brewery Collective, a craft beer and carbonated water company, for a cash consideration of nearly $330 million.
Founded in 2015, CANarchy, which is funded by Fireman Capital, a private equity group, was an early leader in brewery consolidations. Anchored by Oskar Blues Brewery, the craft brewing collective added Perrin Brewing, Squatters and Wasatch , Cigar City and Deep Ellum, as well as California-based Three Weavers Brewing in 2018, before its original owners reacquired it earlier this year. The announced acquisition includes all remaining brands, but will not include any of CANarchy’s independent restaurants.
“This transaction provides us with a springboard from which to enter the beverage alcohol sector. The acquisition will provide us with a complete infrastructure, including people, distribution and licensing, along with beverage alcohol development expertise and manufacturing capabilities in this industry,” says Monster vice president and co-CEO Hilton Schlosberg.
The acquisition is expected to close during the first quarter of 2022 pending regulatory approvals and CANarchy’s organizational structure will remain intact and will be led by CANarchy CEO Tony Short.
