Press release
Monster Beverage Corporation’s CANarchy Craft Brewery Collective to Operate as Monster Brewing Company
-- Change Will Leverage Parent Company Brand Equity -- CORONA, Calif. and LONGMONT, Colo., Jan. 31, 2024 (GLOBE NEWSWIRE) -- Monster Beverage Corporation
About this update from Monster Beverage Corporation
[{"type":"text","content":"-- Change Will Leverage Parent Company Brand Equity -- CORONA, Calif. and LONGMONT, Colo., Jan. 31, 2024 (GLOBE NEWSWIRE) -- Monster Beverage Corporation (NASDAQ: MNST) today announced that effective immediately, CANarchy Craft Brewery Collective (“CANarchy”) will operate under the name Monster Brewing Company. CANarchy’s new alcohol products, The Beast Unleashed™ and Nasty Beast™ Hard Tea, now represent the majority of the Company’s alcohol beverage sales. This change will better align the business with Monster Beverage Corporation’s brand equity, particularly as these products are expected to continue to play an increasingly important role in CANarchy’s future activities. “We entered the alcohol beverage sector with the acquisition of CANarchy in February 2022, providing us with a fully staffed organizational infrastructure, full distribution in place and manufacturing capabilities,” said Hilton Schlosberg, Vice Chairman and Co-Chief Executive Officer of Monster Beverage Corporation. “During the past two years, we integrated CANarchy’s infrastructure to develop, introduce and market new products that are becoming leading brands in the flavored malt beverage space.” “Monster Brewing Company will continue to function independently under the management of its President, Tony Short, and his team,” added Rodney Sacks, Monster Beverage Corporation’s Chairman and Co-Chief Executive Officer. “We are pleased that the strategy of combining the strengths of both organizations is proving successful, as we continue to develop and roll out innovative new products in the flavored malt beverages space and beyond. We are particularly proud that The Beast Unleashed was the best-selling new beer brand in 2023.” Tony Short, Monster Brewing Company’s President, said, “Our new corporate identity operating as Monster Brewing Company affords an even greater opportunity to grow, not only with the introduction of innovative new products but also with our well-established core brands, which are cherished by a loyal consumer base.” About Monster Brewing CompanyMonster Brewing Company, formerly known as CANarchy Craft Brewery Collective, was founded in 2015 as a disruptive collective of craft breweries. Among its current portfolio of beer brands are Jai Alai® IPA, Dale’s Pale Ale®, Dallas Blonde®, and Wild Basin® hard seltzers, among others. The company r...