SALT LAKE CITY — A few local breweries will now go big time for some big money after being purchased by a major energy drink company.
Monster Beverage Corporation announced it will buy CANarchy Craft Brewery Collective, a craft beer and hard seltzer company that includes local favorites Squatters and the Wasatch Brewery.
The $330 million deal means that Squatters' Hop Rising Double IPA and Juicy IPA, along with Wasatch Brewery's Apricot Hefeweizen, will move into the hands of Monster, along with various other brands around the country.
CANarchy will continue to function independently, which means probably consumers who love the local brands should not expect to see much change.
This transaction is expected to close in the first quarter of 2022.
Monster is best known for its energy drinks, but the acquisition broadens its offerings to include alcoholic beverages.