Headlines

Powerplant Fund Closes Fund to Help Grow Plant-Based Brands

Plant-based food and beverage private equity firm Powerplant Ventures today announced the closing of a $42 million fund. The fund is led by Mark Rampolla, founder of ZICO Coconut Water, Kevin Boylan and T.K. Pillan, co-founders of the Veggie Grill restaurant chain, and Dan Beldy, former Managing Director of Steamboat Ventures (the venture capital division of Disney).

ABA Spent $10.6 Million Fighting Philadelphia Soda Tax

Disclosure filings recently made public by the Philadelphia Board of Ethics revealed the trade association spent more than four times the amount of those backing Philadelphia mayor Jim Kenney’s initiative.

Video: Runa Revamp — Co-Founder Discusses New Look

Runa's revamp was a project nearly 18 months in the making, but co-founder Tyler Gage believes that the company, a marketer of guayusa-based tea and energy drinks, finally got it right.

Waiakea Responds to Accusations of Misrepresented Water Sourcing

Reached by phone Thursday, Waiakea founder and CEO Ryan Emmons called the complaints “slander” coming from a competing brand, and that the company resolved the aforementioned labeling issues with the agencies earlier this year.

Video: Powell & Mahoney Co-Founder Talks Surging Sales, Facility Expansion

Bolstered by national distribution at Target, Powell and Mahoney pulled in nearly $3.13 million in sales for the 52-week period ending on May 15, up 75.6 percent year-over-year, according to IRI. Co-founder Mark Mahoney attributes swelling growth to rising consumer demand for premium and natural options within the mixer set, along with brand’s focus on high-quality ingredients and its recent innovation with carbonated varieties.

LifeAID Founders Discuss KarpReilly Investment

LifeAID co-founders Aaron Hinde and Orion Melehan discussed the investment in a call with BevNET on Tuesday, indicating the amount of the raise was in the “high seven figures.”

Spindrift Reveals Packaging Refresh

The sparkling beverage brand shared the revamp - featured across its soda and carbonated water product lines - with BevNET ahead of its upcoming rollout into stores and foodservice outlets next month.

Suja to Launch Line of Drinking Vinegars

Made with organic apple cider vinegar, cold-pressed fruits and vegetables, and four billion vegan probiotic cultures, the line extension is set to debut at Whole Foods Markets across the country beginning in September.

Wells Fargo C-Store Survey: Monster’s Sales Slow

Convenience store sales of non-alcoholic beverages were up 4.6 percent for the second quarter of 2016, according to Wells Fargo Securities’ latest “Beverage Buzz” report.