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Monster to Acquire CANarchy Craft Brewery For $330 Million -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — Monster Beverage Corp (NASDAQ: will acquire CANarchy Craft Brewery Collective LLC, a craft beer and hard seltzer company, for $330 million in cash.

Monster shares rose by 0.6%

Although the deal will encompass CANarchy’s brands including Cigar City, Oskar Blues Deep Ellum and Perrin Brewing as well Squatters’ portfolio, it doesn’t include CANarchy’s standalone restaurants.

Hilton Schlosberg, Monster’s Vice Chairman and Chief Executive Officer said that the transaction gives them a platform to get into the alcohol beverage industry. 

He said, “The acquisition will give us a fully-in-place infrastructure including distribution and licensing, as well as alcoholic beverage expertise and manufacturing capabilities.”

This transaction should close by the end of the first quarter in 2022.

Mark Astrachan from Stifel, a Stifel analyst, commented on the purchase. He has given the stock a buy rating with a $107 price target.

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