Financial terms of the acquisition were not disclosed, and 100 Thieves did not respond to a request for comment. It is also unclear how long this transaction has been in the works as both 100 Thieves and Sprecher Brewing Company are privately owned companies that are not required by law to report all of their financial transactions and activities.
The announcement about the deal was made by Sprecher Brewing Company CEO Sharad Chadha, who said that this acquisition is a way for the company to enter into the energy drink category and continue with its growth strategy.
“It continues our company’s aggressive growth strategy. 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,” he said in a release.
“Juvee had an incredible first year as a part of 100 Thieves and we’re excited that they’ve found a new home and partner in Sprecher that will enable them to reach new heights,” said 100 Thieves President and COO John Robinson in the announcement.
The deal is not surprising, as 100 Thieves announced in November that it would spin off the energy drink company and its game development divisions from its core esports operation as part of a restructuring plan. The restructure also led to some layoffs at the company. Juvee was officially launched in 2022 by 100 Thieves CEO Matthew “Nadeshot” Haag and co-founder Sam Keene—and according to the release—the company saw its revenues grow by 400% in its first year of operation.
As part of the change in ownership, current Juvee employees will become part of the Sprecher team and co-founder Sam Keene will take on the role of chief marketing officer for the entire family of Sprecher beverages (craft beers and craft sodas) including Green River soda, Black Bear soda, Caruso soda, Olde Brooklyn soda, WBC soda, Juvee, and the Ooh La Lemin Lemonade brand. Juvee’s production, bottling, and warehouse operations will also be moved to Sprecher’s headquarters in Greater Milwaukee.