Brad Avery

Brad Avery

Reporter

Brad is a Reporter for BevNET.com.

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Posts by Brad Avery

Molson Coors-Backed CBD Brand Veryvell Expands Across Country

Truss CBD USA, a joint venture by Molson Coors Beverage Company and cannabis products maker HEXO USA, announced today plans to expand its Veryvell brand of CBD beverages across the country following its launch in the Colorado market last year.

KDP: Company Aims to Increase M&A, Fortify Distribution Network

Analysts from Goldman Sachs Equity Research were overwhelmingly positive about Keurig Dr Pepper’s (KDP) long term growth potential following the company’s Investor Day webcast last week. In an analysis of the webcast, Goldman Sachs said the company’s “upbeat outlook delivered on our expectations” to accelerate topline growth and increase earnings.

PepsiCo: Despite Supply Volatility, Q3 Revenue Grows Double-Digits

Despite a “volatile supply chain and cost environment,” PepsiCo reported double-digit growth in its Q3 earnings report today, with net revenue in the quarter up 11.6%. According to the company, organic revenue was up 9% in the third quarter. Earnings per share (EPS) was $1.60, down 3%, while core EPS was $1.79 (up 5.5%).

Slate Milk Extends Seed Round with $3.3M Raise

Boston-based canned chocolate milk brand Slate announced this week that it has raised $3.3 million, adding to a previously announced seed round that now closes at $5 million. Founded in 2018 by Manny Lubin and Josh Belinsky, Slate produces a line of protein rich chocolate milks marketed towards adult consumers.

5-Hour Energy Launches 16 oz. Line

Living Essentials, LLC announced today its first push outside of shots into the full size energy drink category with the launch of 5-Hour Energy in a 16 oz. can format. The new line is debuting simultaneously this week at the National Beer Wholesalers Association (NBWA) convention in Las Vegas and the National Association of Convenience Stores (NACS) show in Chicago.

Aura Bora Scales Up, Tackles Conventional Channel

Fruit and botanical-infused sparkling water startup Aura Bora is looking to make an impression with mainstream consumers early as the San Francisco-based brand expands its sales team and takes to the conventional channel. Since raising $2 million in a seed round this spring, Aura Bora has expanded its retail footprint to about 2,000 doors nationwide.

Club CPG Launches NFT-Based ‘Crypto Packaged Goods’ Platform

The emergence of non-fungible tokens (NFTs) as a tradable digital resource has been among the most notable innovations in finance and the art world this year, but the cryptocurrency-driven trend has yet to make a major impact on the physically-bound CPG world. Now, digital company Club CPG is hoping to change that with the launch of a new platform, Crypto Packaged Goods.

Super Coffee Releases Its ‘Source Code’ and Calls Out Competitors in New Ads

Super Coffee, a producer of functional bottled coffees made with MCT oil, has launched a new marketing campaign releasing a “first-of-its-kind Open Source Coffee Code.” Timed to National Coffee Day, the campaign consists of newspaper ads in The Seattle Times and the Boston Globe urging their biggest competitors to “Please steal our idea.”

Plant Milk Startup Uproot Takes on Universities

Plant-based milk startup Uproot is targeting the higher education channel with a line of dairy alternatives offered through food service beverage dispensers. Founded in 2019 the brand currently produces Oat milk, Soy milk and a Chocolate Peamilk, with plans to introduce additional innovations in the near future, Conway said.

Vita Coco Files for $100M IPO

Vita Coco is officially going public. The New York-based coconut water maker filed on Monday with the U.S. Securities and Exchange Commission for an IPO seeking to raise up to $100 million. The company intends to list on the NASDAQ under the ticker symbol COCO.

Crown to Open New Aluminum Can Production Facility in Nevada

As the beverage industry faces a painful crunch on aluminum can supply, another manufacturer announced last week that it is working to expand production. Crown Holdings said Friday that it has selected Mesquite, Nevada as the location of a new aluminum can manufacturing facility.

Fever-Tree Reports Double-Digit Growth as On-Premise Channel Rebounds

As the cocktail mixer category sees renewed growth with the rise of at-home alcohol consumption, U.K.-based premium brand Fever-Tree is feeling the buzz. The company reported U.S. revenue growth of 42% on a constant currency basis in the first half of 2021, with on-premise sales rebounding rapidly following last year’s channel shutdown.