North American esports organisation 100 Thieves has sold its energy drinks company Juvee to US-based brewery Sprecher Brewing.
As part of the deal, Juvee production will be moved to Sprecher’s headquarters in Greater Milwaukee. Financial details surrounding the acquisition have not been announced.
The deal sees Sprecher Brewing take its first step into the energy drinks sector. According to a release, all current Juvee employees will join the Sprecher Brewing team. This includes co-founder Sam Keene who will take the position of Chief Marketing Officer for the entirety of Sprecher beverages. According to Keene, the team will also grow to 150 people as part of the deal.
Launched in 2022 by 100 Thieves CEO Matthew ‘Nadeshot’ Haag and Sam Keene, Juvee was one of multiple projects that the North American esports organisation launched during a period of diversification. In 2021, 100 Thieves secured a $60m (~£45m) funding round which led Matthew ‘Nadeshot’ Haag, the Founder and CEO of 100 Thieves, to state that “100 Thieves now has the capital to launch and acquire new companies that I know our community will love.”
However, in November 2023, 100 Thieves announced a round of layoffs and spun off Juvee and the company’s game development studio. This meant that Juvee became its own independent company. At the time 100 Thieves’ President and COO John Robinson stated on X that the company “cannot afford as large of an organisation as before.”
The Sprecher Brewing Company was founded in 1984 in the state of Milwaukee, the United States by Randy Sprecher. The company brews a variety of beers alongside soft drinks such as root beer, cream soda and now Juvee.
John Robinson, 100 Thieves President and COO, commented: “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.”