Vita Coco today announced the news in a press release, which added that company co-founder and CEO Michael Kirban would take on Popkin's responsibilities and serve as interim president.
The company announced the news today, revealing that the aspartame-free versions of Diet Pepsi, Caffeine Free Diet Pepsi, and Wild Cherry Diet Pepsi are slated to hit shelves in August.
Domenick Vultaggio and John Ferolito have reached a settlement in what has been an eight-year long dispute over the value of the company they founded together in 1992.
The company announced the news in a press release Tuesday, with Celsius CEO Gerry David saying the strategic partnership “will broaden our reach across consumers and will further strengthen our position in both domestic and global markets.”
Surveying retailers who represent over 15,000 convenience stores nationwide, the report found dollar sales of non-alcoholic beverages in C-stores were up 6.4 percent in the first quarter of 2015.
LAB is seeking investments ranging from $3 million to $10 million in early stage beverage businesses, and will not be exclusive to the alcoholic segment.
The food and beverage industry was recently reminded that specific criteria needs to be met when using the word “healthy” on product labels. That reminder came in the form of an FDA warning letter sent to Kind LLC, the maker of Kind snack bars.
A week before announcing a $15.95 million investment round (one that included funding from Russell Simmons, Kimora Lee Simmons, and Asia’s richest man La Ka Shing), Celsius announced new distribution in Gold’s Gym Fitness Centers.
Red Bull Editions were a big winner in the convenience store channel, where the products racked up $238.9 million in year-one dollar sales.
Soda rivalries aside, the battle for control of the ready-to-drink tea category is beginning to brew over.
The Starbucks-owned company recently launched a new six-SKU line of 11 oz. bottles that was designed to bolster brand presence and sales in mainstream retailers and tap into the vast well of consumers that have grown up on pasteurized super-premium juice brands like Naked and Odwalla.
Bai CEO Ben Weiss today revealed that Dr Pepper Snapple Group’s (DPS) $15 million acquisition of a minority stake in his company was based on a half-billion dollar valuation. The deal gives DPS a 3 percent ownership position in Bai, which also recently secured a $25 million line of credit from global investment banking firm J.P. Morgan Chase.
Eighteen months after signing a national distribution deal with Dr Pepper Snapple Group (DPS), Bai Brands, which has grown at a torrid pace in the timeframe, has sold an equity stake to the beverage titan.
Edward Balassanian, the founder and CEO of Vital Juice, told BevNET that the decision to shut down was the result of several factors, one of the most significant being the remarkable pace at which the cold-pressed juice category is evolving.