— 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 Company
Monster 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 recently added flavored malt beverages—namely, The Beast Unleashed™ and Nasty Beast™ Hard Tea—to its portfolio. The company also distributes Monster Tour Water, still and sparkling water beverages, and Revitalyte, a rapid hydration drink. For more information, visit https://www.canarchy.beer/ and https://beastunleashed.com/.
Monster Beverage Corporation
Based in Corona, California, Monster Beverage Corporation is a holding company and conducts no operating business except through its consolidated subsidiaries. The Company’s subsidiaries develop and market energy drinks, including Monster Energy® drinks, Monster Energy Ultra® energy drinks, Juice Monster® Energy + Juice energy drinks, Java Monster® non-carbonated coffee + energy drinks, Rehab® Monster® non-carbonated energy drinks, Monster Hydro® non-carbonated refreshment + energy drinks, Monster Energy® Nitro energy drinks, Reign® Total Body Fuel high performance energy drinks, Reign Inferno® thermogenic fuel high performance energy drinks, Reign Storm® total wellness energy drinks, NOS® energy drinks, Full Throttle® energy drinks, Bang Energy® drinks, BPM® energy drinks, BU® energy drinks, Burn® energy drinks, Gladiator® energy drinks, Live+® energy drinks, Mother® energy drinks, Nalu® energy drinks, Play® and Power Play® (stylized) energy drinks, Relentless® energy drinks, Samurai® energy drinks, Ultra Energy® drinks, Predator® energy drinks and Fury® energy drinks. The Company’s subsidiaries also develop and market still and sparkling waters under the Monster Tour Water® brand name. The Company’s subsidiaries also develop and market craft beers, hard seltzers and flavored malt beverages under a number of brands, including Jai Alai® IPA, Dale’s Pale Ale®, Dallas Blonde®, Wild Basin® hard seltzers, The Beast Unleashed™ and Nasty Beast™ Hard Tea. For more information visit www.monsterbevcorp.com.
Forward-Looking Statements
Certain statements made in this announcement may constitute “forward-looking statements” within the meaning of the U.S. federal securities laws, as amended, regarding the expectations of management with respect to future operating results and other future events including revenues and profitability. The Company cautions that these statements are based on management’s current knowledge and expectations and are subject to certain risks and uncertainties, many of which are outside of the control of the Company, that could cause actual results and events to differ materially from the statements made herein. For a more detailed discussion of these and other risks that could affect operating results, see the Company’s reports filed with the Securities and Exchange Commission, including the annual report on Form 10-K for the year ended December 31, 2022, and subsequently filed quarterly reports. The Company’s actual results could differ materially from those contained in the forward-looking statements. The Company assumes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
| CONTACTS: | Rodney C. Sacks / Hilton H. Schlosberg Co-Chief Executive Officers (951) 739-6200 Roger S. Pondel / Judy Lin |
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