Jones Soda has named David Knight as its new president and CEO, effective June 23, replacing outgoing executive Mark Murray. Knight comes to the Seattle-based craft soda brand from CBD company CFH Ltd., where he has served as chief beverage officer since 2021.
While inflation may have hit consumers’ wallets hard last year, it hasn’t curbed their appetite for new CPG innovation, according to the 2023 New Product Pacesetters report from market research firm Circana.
Watermelon water maker Mela has partnered with independent California distributor Stone Distributing Co., making it one of the first non-alcoholic beverage brands in the DSD house’s portfolio of beer, hard kombucha and spirits brands.
Seeking a leader that can help the company to scale and expand, cold-pressed juice bar chain and functional wellness brand Pressed Juicery has named Eureka! Restaurant Group co-founder Justin Nedelman as its new CEO.
As the former chief creative officer for Bai and Crook & Marker, marketing creative Chad Portas has had a longstanding working relationship with entrepreneur Ben Weiss, who founded both brands. Now, the duo are partnering once again to launch Substratum, a New Jersey-based advertising agency and venture capital platform.
Health and wellness-focused CPG investment firm Selva Ventures announced this week it has closed a $34 million raise for its second fund, which included backing from Unilever Ventures, PagsGroup and Obelysk as well as existing investors.
Chamberlain Coffee, the ready-to-drink and bagged coffee brand founded by YouTube star Emma Chamberlain, this morning announced it has closed a $7 million funding round led by existing investors Blazar Capital, United Talent Agency and Chamberlain herself.
Dollar sales in the two-weeks slowed from 8.7% improvement in the four-week period and +11% for the 12-weeks. Volume sales fell -4.7% in the two-week period (-3.9% for four-weeks) and average pricing “remained robust and accelerated slightly,” up by 12.9% (+12.6% for four-weeks) according to the report.
G.O.A.T. Fuel, the mushroom-enhanced energy drink brand backed by three-time Super Bowl champion Jerry Rice, announced this week it has closed a $5 million seed funding round co-led by venture firms Stage 1 Fund and Morrison Seger Venture Capital Partners.
Danone-owned coffee brand STōK Cold Brew is jumping into the game as the team’s official stadium sponsor, beginning July 1. As part of the sponsorship, Wrexham’s historic home field, Racecourse Ground – the oldest international soccer stadium still in active use – will be renamed for a brand for the first time, now going by STōK Cae Ras in Welsh, or STōK Racecourse.
Diageo-aligned accelerator Distill Ventures (DV) has named Heidi Dillon as CEO, assuming the role from co-founder Frank Lampen. Lampen will transition to the role of founder and chair, according to a press release.
After the merger of Suja and Vive Organic in October, the former CMOs of both juice brands have found new roles this month. Greg Rose, who spent nearly six years at Suja, has joined Proud Source Water as its CMO. Former Vive CMO Ryan Therriault, meanwhile, has joined coconut water maker ZICO Rising.
Non-alcoholic beverage sales remained “healthy but decelerated sequentially,” growing 8.8% in the two-week period ending May 6, according to an analysis of NielsenIQ data by Goldman Sachs Equity Research.
After watching cold-pressed juice establish a place for itself in the tastemaker markets of New York and Los Angeles, Midwest Juicery is looking to reinvigorate the category in its own backyard. Also, ShineWater and Remedy Organic expand their Northeast presence, Hella Cocktail Co. partners with Rainforest, and Mineragua enters select Whole Foods doors.
