Energy drink company Monster Beverage Corporation (NASDAQ: MNST) purchased craft beverage and hard seltzer manufacturer CANarchy Craft Brewery Collective LLC. The companies have also signed a definitive agreement affirming the deal.
As per the terms of the agreement, Monster will pay $330 million in cash for the craft brewer. However, the deal expected to close in Q1 of 2022 is subject to closing conditions and regulatory approvals.
CANarchy’s Chief Executive Officer Tony Short said: “The team at CANarchy is thrilled to be joining Monster. We look forward to capitalizing on the combined expertise of Monster and CANarchy to further strengthen our current alcoholic product offerings; expand our product portfolio to meet the ever-changing needs of our customers and...
