MONSTER BEVERAGE CORPORATION

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Monster Jumping Into Booze Business With $330 Million CANarchy Buy

01/13/2022 | 08:36am EDT

By Colin Kellaher

Monster Beverage Corp. on Thursday said it is entering the alcoholic-beverage sector with a deal to buy craft-beer and hard-seltzer company CANarchy Craft Brewery Collective LLC for $330 million in cash.

Monster, a Corona, Calif., beverage maker best known for its namesake energy drinks, said the acquisition includes the Cigar City, Oskar Blues, Deep Ellum, Perrin Brewing, Squatters and Wasatch brands but excludes CANarchy's stand-alone restaurants.

Monster's deal comes as beverage companies across the spectrum move into in new categories in a bid to spur growth.

Coca-Cola Co., which last year pulled the plug on an energy drink it had hoped would compete with Monster, last week said it struck a deal with Corona beer brewer Constellation Brands Inc. to launch cocktails based on its Fresca soda brand. Rival PepsiCo Inc. and Samuel Adams brewer Boston Beer Co. are set to roll out an alcoholic version of the Mountain Dew soft drink.

Monster said it expects to complete the transaction during the first calendar quarter, adding that the organizational structure for energy drinks business will remain unchanged, and that CANarchy will function independently, retaining its own organizational structure and team.

Write to Colin Kellaher at colin.kellaher@wsj.com

Corrections and Amplifications

This article was corrected at 8:56 a.m. ET because the word quarter was omitted in the last paragraph. Monster said it expects to complete the transaction during the first calendar quarter.

(END) Dow Jones Newswires

01-13-22 0836ET

Stocks mentioned in the article
ChangeLast1st jan.
CONSTELLATION BRANDS, INC. -0.41% 233.99 Delayed Quote.-6.43%
MONSTER BEVERAGE CORPORATION 0.27% 87.02 Delayed Quote.-9.81%
ON SEMICONDUCTOR CORPORATION -2.37% 54.72 Delayed Quote.-17.45%
PEPSICO, INC. 0.25% 161.54 Delayed Quote.-7.20%
THE BOSTON BEER COMPANY, INC. -1.13% 325.2 Delayed Quote.-34.83%
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Analyst Recommendations on MONSTER BEVERAGE CORPORATION
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Financials (USD)
Sales 2022 6 379 M - -
Net income 2022 1 427 M - -
Net cash 2022 2 217 M - -
P/E ratio 2022 32,0x
Yield 2022 -
Capitalization 45 954 M 45 954 M -
EV / Sales 2022 6,86x
EV / Sales 2023 6,19x
Nbr of Employees 3 775
Free-Float 58,9%
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Technical analysis trends MONSTER BEVERAGE CORPORATION
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Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 86,76 $
Average target price 99,10 $
Spread / Average Target 14,2%
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Managers and Directors
Rodney Cyril Sacks Chairman & Co-Chief Executive Officer
Hilton Hiller Schlosberg Vice Chairman & Co-Chief Executive Officer
Thomas J. Kelly CFO & Principal Accounting Officer
Gary P. Fayard Independent Director
Benjamin M. Polk Independent Director
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