Sprecher Brewing Co. is expanding into the energy drink market with the purchase of Juvee from global gaming and lifestyle brand 100 Thieves.
Short for rejuvenation, Juvee was launched in 2022 by 100 Thieves CEO Matthew Haag and co-founder Sam Keene. The brand’s revenue has grown by more than 400% over the past year.
“It continues our company’s aggressive growth strategy,” Sprecher Chief Executive Officer Sharad Chada said of the move to acquire Juvee. “The energy drink category is hugely popular, and when we connected with Juvee’s co-founders, it quickly became apparent that this was the perfect brand for us to enter into this competitive space.”
It’s time to pick your Milwaukee favorites for the year!
Juvee’s current employees will become part of the Sprecher workforce and Juvee’s production, bottling and warehousing will be moved to Sprecher’s headquarters operations in Glendale. Keene will assume the position of chief marketing officer for the entire family of Sprecher beverages, including all of its craft beers and craft sodas.
“We’ve experienced incredible growth since Juvee’s launch and this acquisition will help the brand reach more of our passionate consumers, while also introducing them to the full family of Sprecher beverages,” Keene said. “I’m thrilled for Juvee to find a new home at Sprecher and ready to bring the same energy to the company’s marketing team.”
John Robinson, president and chief operating officer of 100 Thieves, said the deal comes after the caffeinated beverage brand enjoyed “an incredible first year” as part of the Los Angeles-based company.
“We’re excited that Juvee found a new home and partner in Sprecher that will enable them to reach new heights,” Robinson said.
In November, 100 Thieves announced plans to spin off Juvee as an independent operation as the company opted to focus on its core business.
The Juvee purchase is Sprecher’s seventh acquisition since its new ownership group took over the company in February 2020. Sales have tripled since that time, according to company management. In October, Sprecher purchased the Ooh La Lemin Lemonade brand as part of an aggressive an ongoing expansion plan.
Other labels acquired by Sprecher since Chadha and a small group of investors purchased the company from founder Randy Sprecher include Green River, Black Bear, Caruso, Olde Brooklyn and WBC.
Founded in 1985, Sprecher is the Milwaukee area’s oldest crafter brewer, but revenue from soda now accounts for about 90% of Sprecher’s business.
Sprecher sodas are currently available in over 25,000 stores in 49 states.
