100 Thieves has sold its energy drink company Juvee off to the Milwaukee based Sprecher Brewery.
As a result, the Juvee team will grow to 150 people working specifically on Juvee, with Sprecher looking to push Juvee to 49 states and over 25,000 stores where Sprecher is already located. All current Juvee employees will join the Sprecher Brewery team, such as Juvee CEO Samuel Keene, which is also promising.
Though financial details weren’t necessarily revealed, this seems like an interesting move for 100 Thieves as the company aims to refocus its efforts and priorities.
This comes after the 2023 announcements 100 Thieves made about layoffs and spinning off Juvee as well as its game dev studio.
With orgs divesting some of its properties (esports teams, business lines, etc.), the industry may be seeing the consolidation trend continuing in the future.
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