Independent hard seltzer maker Two Robbers will open its first taproom in Philadelphia’s Fishtown neighborhood later this year. The 4,000 sq. ft. taproom – titled Burgers and Seltzers – is the first seltzer taproom in Philadelphia. In addition to a beyond beer-driven menu, Two Robbers will serve smash burgers, beer and spirits.
Deschutes Brewery has named Peter Skrbek as its new CEO, effective immediately. Skrbek, who served as chief financial officer, assumes the post from Michael LaLonde, who took the role of president in 2011 and later added the title of CEO in 2017 of the Bend, Oregon, craft brewery — the 10th largest by volume, according to the Brewers Association.
Springfield, Massachusetts-based White Lion Brewing has signed a licensing agreement with retired NBA player and UMass Amherst alumnus Marcus Camby to release the first of several collaborative beers.
The Brewbound team breaks down Monster’s agreement to acquire the CANarchy Craft Brewery Collective for $330 million in cash.
Monster Beverage Corporation co-CEOs Rodney Sacks and Hilton Schlosberg discussed their company’s acquisition of the CANarchy Craft Brewery Collective and shed light on Monster’s aspirations in the beverage-alcohol space during a conference call for investors Thursday evening following news of the sale. “We’ve been evolving a strategy to enter the alcoholic beverage market and this is, we believe, our best strategy of achieving this objective,” Schlosberg said.
The federal Alcohol and Tobacco Tax and Trade Bureau (TTB) has accepted offers in compromises from a pair of Midwestern beer wholesalers for entering into sponsorship agreements that “allegedly resulted in the unlawful exclusion of their competitors’ products,” the agency announced today.
Lower than expected wholesaler inventory builds of Truly Hard Seltzer in the fourth quarter, as well as increased supply chain costs, have led Boston Beer Company to revise downward its shipment, gross margin and earnings per share projections for full-year 2021, according to a Form 8K filed with the U.S. Securities and Exchange Commission Thursday afternoon.
Whispers of the CANarchy Craft Brewery Collective’s potential sale have circulated through the industry’s rumor mill for the last few years before finally becoming a reality with today’s announced agreement to sell to energy drink maker Monster for $330 million in cash. Those whispers were the smoke to the fire of the craft brewery rollup being shopped to potential buyers. The seller’s identity though was not be the one everyone associates with CANarchy’s ownership.
Santa Rosa, California-based Russian River Brewing Company’s annual in-person Pliny the Younger release has been postponed, following a spike in COVID-19 cases.
Financial services firms have responded positively to the news of energy drink maker Monster Beverage Corporation striking a deal to acquire the CANarchy Craft Brewery Collective. “Overall we view this transaction as a strategic positive as it is 100% incremental to Monster’s existing business and should function as a springboard for Monster to enter the alcoholic beverage sector as CANarchy is the sixth largest craft brewer in the U.S. with seven distinct brands,” Goldman Sachs equity research analyst Bonnie Herzog wrote.
“Bigger is better” is the motto this year for Asheville, North Carolina-based Hi-Wire Brewing, and they have the cans to back it up.
Energy drink maker Monster Beverage has reached “a definitive agreement” to acquire the CANarchy Craft Brewery Collective for $330 million in cash, the company announced today. The all cash deal is expected to close in the first quarter of 2022, pending “customary closing conditions, including regulatory approvals.” The acquisition will give Monster a foothold in… Read more »
Total beer dollar sales in off-premise retailers reached nearly $44.3 billion in 2021, according to market research firm IRI. IRI, which tracks category-wide sales at major off-premise retailers, reported a -0.4% decline in off-premise spending compared to the same period in 2020, which ushered in massive shifts in consumer spending and behavior due to the COVID-19 pandemic.
The former owners of Green Flash Brewing have put the San Diego brewery and its equipment up for sale as a turnkey operation.
