Hydration beverage producer Electrolit has named former Red Bull senior director of marketing Christian Patiño Webb as its new CEO. Patiño Webb comes to the company from Unilever, where he served as VP of marketing for SmartyPants Vitamins.
Last week, low-alc aperitif brand Haus announced that it would shut down. Rather than filing for federal bankruptcy protections, the California-based brand instead looked to a different type of common law bankruptcy procedure known as an Assignment for the Benefit of Creditors, or an “ABC.” But what is the process and how does it work?
Seventeen years ago, Bossa Nova helped create the market for acai juices in the U.S. Now, its founder Alton Johnson – working alongside beverage industry veteran Neil Kimberely, himself fresh off a nine-year stint as Chief Strategy Officer at premium water brand Essentia – is bringing the defunct brand back, although this time it will be dancing to a different beat.
Eat the Change, the healthy snack brand founded by Seth Goldman has raised $14.5 million in new funding to support its expansion into the ready-to-drink tea category. In June, Goldman announced plans to launch a new organic bottled tea line called Just Ice Tea under the Eat the Change platform after The Coca-Cola Company said it will discontinue Honest Tea.
Barrel Labs, the newly formed parent company of DTC customizable beverage brand ELIQS, announced on Wednesday it has closed a $5.7 million seed round that will support its expansion into three business platforms intended to help it become a “customization platform for the entire beverage industry.”
Despite some relief for consumers in other economic sectors, food and beverage prices continued to increase in July, up 1.2% month-over-month, according to a new inflation report by market research firm IRI.
Haus, a California-based maker of low-ABV aperitifs, is winding down its business and seeking a buyer after the lead investor in its Series A round dropped out during the closing process, leaving the company without the necessary cash on hand to continue operations.
Spirits company The CoreBev Group has partnered with cold brew coffee brand RISE Brewing Co. for its latest canned cocktail launch, Moonlight Barista. Made with CoreBev’s Cylinder Vodka and RISE coffee, Moonlight Barista (15.5% ABV) is a nitro espresso martini available in 6.8 oz. cans.
RISE Brewing Co. believes it still has a legal path forward after an appeals court ruled in favor of PepsiCo last month in a trademark lawsuit over the name of the MTN Dew Rise Energy line, but the startup coffee brand now faces a stronger challenge.
Dairy Farmers of America (DFA) is the target of a class action antitrust lawsuit filed last week, alleging the largest national dairy cooperative has acted or has tried to act as a monopsony by constraining the Northeast raw milk market.
Swedish oat milk and frozen dessert producer Oatly Group AB reported double-digit revenue growth during the second quarter, but a challenging global market has led the company to decelerate its capital expense plan and focus on meeting existing demand.
While some ecommerce platforms may be navigating a downturn as many consumers return to brick-and-mortar retail, startups Parade and CPGD are looking to the metaverse to make the online shopping experience more fun and personal with their latest platform: The MetaMarket.
CELSIUS’ leadership believes the company’s new distribution partnership with PepsiCo will help increase its distribution footprint by around 40% over the next 12 months as the Florida-based energy drink brand eyes new channels and global growth.
PepsiCo announced today it has entered a long-term distribution agreement with fitness energy drink producer Celsius Holdings, Inc., maker of the CELSIUS brand, effective immediately. The deal includes a $550 million investment into the publicly traded energy drink company, granting the New York-based conglomerate an 8.5% ownership stake.
