Monster Beverage to buy craft-beer maker in alcohol market drive

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Reuters

(Reuters) -Energy drinks maker Monster Beverage Corp is entering the alcoholic drinks market through a $330 million deal for craft beer and hard seltzer producer CANarchy Craft Brewery Collective LLC. The all-cash deal, announced on Thursday, extends the trend of soft-drink companies branching out to the alcohol space as traditional boundaries between the categories rapidly blur. Coca-Cola Co has tied up with brewer Constellation Brands Inc to launch Fresca-branded ready-to-drink cocktails, while rival PepsiCo Inc has partnered with Boston Beer Co to launch a Mountain Dew-branded alcoholic bev…

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