The company behind one of America’s most-popular energy drinks is getting into the beer business, buying the brewing collective that includes two well-known Utah beer brands: Squatters and Wasatch Brewing.
Monster Beverage Corporation — best known for its Monster Energy Drink — recently announced it was buying CANarchy, a Colorado-based craft brewing collective whose brands include the two Utah labels, for $330 million in cash.
Monster vice chairman and co-CEO Hilton Schlosberg announced the sale during an online investor meeting on Jan. 13, explaining that the deal provided the company with “a springboard form which to enter the alcoholic beverage sector.”
The sale, Schlosberg said, gives Monster a “fully in-place infrastructure, including people, distribution and licenses, along with alcoholic beverage development expertise and manufacturing capabilities in this industry.”
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