Did you all just hear that? That tiny, nearly silent series of screams you hear all around you? Well, that was the entire craft beer industry crying out in fear and pain. Why? Well, because Monster Beverage Corp announced that it is going to be a brewery.
Energy drinks maker Monster Beverage Corp (MNST.O) said on Thursday it had agreed to buy craft beer and hard seltzer maker CANarchy Craft Brewery Collective Llc for $330 million in cash, marking its entry into the alcoholic drinks market.
Monster said the deal would add alcoholic brands Cigar City, Oskar Blues, Deep Ellum, Perrin Brewing, Squatters and Wasatch brands to its beverage portfolio and not include CANarchy’s restaurants.
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