Estimated read time: 3-4 minutes
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
SALT LAKE CITY — Utah beer is making a national splash.
Three of Utah's biggest beer brands are set for market expansion after they were snatched up by national brands within days of each other this month.
It started when Connecticut-based United States Beverage announced it had acquired Uinta Brewing, Utah's largest independent craft brewer, on Jan. 10. The terms of the agreement weren't disclosed, and it wasn't clear if the transaction had been finalized.
Three days later, the California-based Monster Beverage Corporation scooped up CANarchy Craft Brewery Collective, which includes Squatters Craft Beers and Wasatch Brewery, in a $330 million transaction. The cash buyout is pending regulatory approval but is expected to be finalized by the end of the quarter, according to the company.
The deal brings Wasatch and Squatters beer brands to the company, such as Apricot Hefeweizen and Hop Rising Double IPA. However, stand-alone restaurants aren't included. Squatters Craft Beers and Wasatch Brewery were previously acquired by CANarchy Craft Brewery Collective in 2017.
In separate announcements, spokespeople for the two purchasing companies said that neither transaction will affect organizational structures or jobs. That means all three Utah breweries will continue to run the same as in the past.
Both acquisitions appear to have instead focused on distribution and market growth, making it possible for Utah's beer brands to become more mainstream across the country.
Wasatch Brewery, founded in 1986, is Utah's oldest brewery. Squatters opened three years later, while Uinta Brewing Company opened in 1993.
"In joining U.S. Beverage, we align two exceptionally strong, complimentary beverage teams at the perfect time," said Jeremy Ragonese, president of Uinta Brewing, in a statement. "I am thrilled to have the opportunity to collaborate with U.S. Beverage to expand opportunities for our brewery, advance our current initiatives and invest in our future."
Monster Beverage Corporation's purchase is a bit more surprising, in that the company is most known for its energy drink and its portfolio mostly consisted of energy drink brands heading into this year.
Hilton Schlosberg, the vice chairman and co-chief executive at the company, said in a statement that Monster made the purchase in an effort to move into another market sector.
"The addition of CANarchy and its brands to the Monster beverage portfolio represents an excellent opportunity to further grow our already robust product offerings," added Rodney Sacks, the chairman and co-CEO. "We are excited to build and expand upon CANarchy's existing brands with innovative new products."
KSL.com was unable to reach anyone at Wasatch or Squatters breweries for comment. In a statement, Tony Short, the CEO at CANarchy Craft Brewery Collective, said the company is "thrilled" to join Monster in the new venture and "expand our product portfolio to meet the ever-changing needs of our customers and to grow our business."
Utah's craft beer industry contributes to about $415 million toward the state's economy annually, according to the Utah Brewers Guild, a nonprofit trade organization made up of Utah's craft breweries. These companies also employ about 12,000 full-time and part-time employees across the state.
