As an expert sommelier and brewer, I can provide you with detailed information about when Monster Beverage purchased Cigar City. Monster Beverage announced its acquisition of the CANarchy Craft Brewery Collective, which includes Cigar City, in 2022. The deal, valued at $330 million, marks Monster's entry into the craft beer and hard seltzer market.
I remember when the news broke about Monster's acquisition of Cigar City. It was an interesting development in the beverage industry, as Monster is primarily known for its energy drinks. However, this move was seen as a strategic decision to diversify its product portfolio and tap into the growing popularity of craft beer and hard seltzer.
Cigar City is a renowned brewery based in Tampa, Florida, known for its high-quality and innovative craft beers. Their flagship beer, Jai Alai IPA, has gained a loyal following and critical acclaim. Being familiar with the craft beer scene, I have personally enjoyed Cigar City's offerings and appreciate their commitment to brewing exceptional beers.
It's worth noting that Cigar City is not the only brewery that Monster acquired as part of the CANarchy Craft Brewery Collective. The collective also includes other well-known breweries like Oskar Blues and Wild Basin. Oskar Blues is based in Colorado and is known for its popular craft beers, including Dale's Pale Ale and the infamous Ten FIDY Imperial Stout.
Wild Basin, on the other hand, is a hard seltzer brand that has gained popularity for its refreshing and fruity flavors. The acquisition of Wild Basin reflects Monster's interest in the rapidly growing hard seltzer market, which has become a popular choice among consumers seeking low-calorie and flavorful alcoholic beverages.
Monster's purchase of the CANarchy Craft Brewery Collective, including Cigar City, signifies the company's strategic move into the craft beer and hard seltzer industry. This acquisition allows Monster to expand its product offerings and cater to a wider range of consumer preferences. It will be interesting to see how Monster leverages its existing brand and distribution channels to further elevate the profile of these craft breweries and their products.
Monster Beverage purchased Cigar City and other breweries within the CANarchy Craft Brewery Collective in 2022. This move represents Monster's entry into the craft beer and hard seltzer market, allowing the company to diversify its product portfolio and tap into the growing popularity of these beverages.