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Based in Glendale Sprecher Brewing Company This week, it announced the acquisition of a Los Angeles-based energy drink brand. Jube From a global gaming and lifestyle brand 100 thieves. Terms of the deal were not disclosed.
The company name Juvee is an abbreviation for rejuvenation. Juvee was founded in 2022 by 100 Thieves CEO Matthew Haag and co-founder Sam Keene. Since then, Juvee’s revenue has increased by his 400%, according to Thursday’s announcement. Juvee’s energy drinks aim to boost your energy levels, lift your mood, and improve your overall health.
“(This acquisition) continues our aggressive growth strategy,” he said. Sharad Chadha, CEO of Sprecher. “The energy drinks category is extremely popular, and when we contacted Juvee’s co-founders, we immediately knew this was the perfect brand to enter this competitive space.”
Juvee employees will join the Sprecher team. Sam Keene has been appointed as chief marketing officer for the entire Sprecher beverage range. As part of the acquisition, Juvee’s production, bottling and warehousing will also be moved to Sprecher’s headquarters.
“The Juvee team is expanding from a lean organization to a 150-person strong team,” Keene said in a LinkedIn post. “With this growth, we’re not just changing our size. We’re evolving in our reach. We’ve gone from two direct sales distributors to 110 direct sales outlets in 49 states, reaching more than 25,000 customers. “We will be leveraging Sprecher’s impressive network of sales locations. This is a game-changer for the brand and puts Juvee within reach of our communities across the country.”
Last year, Sprecher announced annual growth of 35% year-over-year and tripled sales. Key to the company’s growth strategy is acquiring smaller craft beverage companies to help it enter new markets.
In the past three years, the brewery has acquired six other beverage labels, including Melbourne, Fla.-based Kona Gold Beverage’s Oh La Lemin Lemonade, acquired last October. brands, and also acquired several brands from Chicago-based WIT Beverages in 2021. The 102-year-old lime soda brand includes Green River, Black Bear Soda, Old Brooklyn, WBC Craft Soda and Caruso’s Italian Style Craft Soda.
Sprecher also acquired Germantown-based Excent, which operates an automated robotic production line for variety packaging, in October.
The brewery was named BizTimes Milwaukee’s. Small Business of the Year In 2023.
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