Glendale-based Sprecher Brewing Co. announced this week its acquisition of Los Angeles-based energy drink brand Juvee from global gaming and lifestyle brand 100 Thieves. Terms of the deal were not disclosed. The name of the company, Juvee, is short for rejuvenation. Juvee was launched in 2022 by Matthew Haag, 100 Thieves chief executive officer, and
Glendale-based Sprecher Brewing Co. announced this week its acquisition of Los Angeles-based energy drink brand Juveefrom global gaming and lifestyle brand 100 Thieves. Terms of the deal were not disclosed.
The name of the company, Juvee, is short for rejuvenation. Juvee was launched in 2022 by Matthew Haag, 100 Thieves chief executive officer, and co-founder Sam Keene. Since then, Juvee has grown revenues by 400%, according to Thursday’s announcement. Juvee’s energy drinks are meant to boost energy levels, elevate mood and improve overall well-being.
“(This acquisition) continues our company’s aggressive growth strategy," said Sharad Chadha, chief executive officer of Sprecher. "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.”
Juvee’s employees will join the Sprecher team. Sam Keene has been brought on as the chief marketing officer for the entire family of Sprecher beverages. As part of the acquisition, Juvee’s production, bottling and warehousing will also be moved to Sprecher’s headquarters.
[caption id="attachment_583222" align="alignleft" width="300"] Sam Keene[/caption]
"The Juvee team is set to expand from our lean machine to a powerhouse of 150 people," said Keene in a LinkedIn post. "With this growth, we're not just changing in size; we're evolving in reach. Moving from two direct store distributors to a whopping 110 with presence in 49 states, we'll be taking advantage of Sprecher's impressive network of over 25,000 points of distribution. This is a game-changer for the brand, putting Juvee within arm's reach of our community nationwide."
Last year, Sprecher announced it had experienced an annual growth rate of 35% year-over-year and that sales had tripled. Key to the company’s growth strategy is acquiring smaller craft beverage manufacturers to help break into new markets.
Over the past three years, the brewery has acquired six other beverage labels, including, last October, the Ooh La Lemin lemonade brand from Melbourne, Florida-based Kona Gold Beverage and, in 2021, a handful of brands from Chicago-based WIT Beverage Co. including the 102-year-old lime soda brand Green River, Black Bear Soda, Olde Brooklyn, WBC Craft Sodas and Caruso’s Italian-Style Craft Sodas.
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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