Photo via Cigar City Brewing
Cigar City Brewing.
If you’ve ever poured a Jai Alai into a Monster, then your twisted fantasy has just come true—sort of.
Today, the Monster Beverage Corp announced a deal to purchase CanarchyCraft Brewery Collective (stylized “CANarchy”) for $330 million. Canarchy is the parent company of Tampa’s Cigar City Brewing, as well as a handful of other popular brewers, including Utah-based Squatters, and Wasatch Brewing.
The all-cash deal, which is expected to be finalized this spring, will leave Canarchy as an independent operation, and will act as a "springboard" for Monster into the alcoholic beverage realm, said co-Chief Executive Officer Hilton Schlosberg in a statement.
"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," said Schlosberg.
In 2016, Cigar City was bought by the folks behind Oskar Blues, to form what would become Canarchy, which is currently the sixth largest craft-brewing company in the United States.