Plaintiffs in a class action lawsuit filed this week claim that the makers of functional shot brand Feel Free Wellness Tonic and 7-Eleven may have misled consumers about the risk of addiction to kratom, an active ingredient in the drink.
After announcing a new start for the company this weekend, Phocus CEO Joey Nickell said functional beverage brand is now preparing an ambitious national expansion with a goal of reaching 10,000 retail doors.
NextFoods, the maker of functional food and beverage brand GoodBelly, is merging the business with tart cherry juice producer Cheribundi. As part of the deal, announced today, NextFoods will remain as the majority shareholder of the combined entity, which will operate under the GoodBelly name. Venture capital firm Emil Capital Partners (ECP) is the company’s largest investor.
Caffeinated sparkling water brand Phocus has a new look and a new celebrity partner in rapper Jack Harlow, the company announced on social media this weekend. In an Instagram post, Harlow showed off a picture of the brand’s new minimalist can design.
Reed’s, Inc. ended FY 2022 on an optimistic note, announcing a 7% increase in full year net sales to $53 million and a reduction in operating losses. Speaking on the company’s quarterly earnings call earlier this week, CEO Norman Snyder reiterated guidance that the company will achieve break-even cash flow in the second half of the year with gross margins above 30% and double-digit sales growth.
Publicly traded canning company Wildpack Beverage announced this week it has entered an agreement to receive a $20 million 12-month secured loan from Manna Capital Partners, which will go towards scaling operations across its six U.S. manufacturing plants. The deal is expected to close on April 10.
Already one of the top selling RTD coffee brands in the U.S., Monster Energy’s Java Monster is set to enter the Australian market with a lower sugar formulation and a new name: “Java Monster Super Coffee.” But if that name rings a bell, you’re not the only one to notice.
After debuting a canned line of its flagship kombuchas this month, Health-Ade is using the new format to deepen its retail presence and open up new channels, beginning with the company’s first-ever pro sports partnership with the Los Angeles Dodgers.
Facing a net loss of $15.6 million in Q4 2022 – up 126% year-over-year – plant-based food and powdered drink brand Laird Superfood said it is emphasizing turnaround efforts in the new year during an earnings call this week.
At Natural Products Expo West 2023 last week, the publicly-traded company unveiled a rebrand across its product lines – which includes sodas, iced teas, energy drinks and kids beverages. In this video, recorded at the brand’s show booth, Zevia CEO Amy Taylor said the visual refresh is aimed at bringing new consumers into the brand through a modern look.
Clean energy drink mix brand Pureboost announced it has raised over $2.6 million via crowdfunding from over 500 individuals as it prepares to expand its retail presence this year. Launched in 2018, Pureboost produces powdered energy drinks sold in single-serve stick packs.
Monster Beverage Corporation reported net sales growth of 13.9% to $6.31 billion – up from $5.54 billion the year before – in its Q4 and full year 2022 earnings report yesterday. The results arrive as the company pushes forward with its expansion into new beverage categories, including alcohol.
As it expands operations across the country and continues to build out new business units, beverage incubator L.A. Libations (LAL) has hired for several new key roles and is seeking to fill 35 more job openings this year. Also, The Alkaline Water Company president and CEO resigns and Nirvana hires a new CMO.
Machu Picchu is looking to establish itself in another growing beverage category: yerba mate. The caffeinated herbal infusion has been similarly positioned in the U.S. as an energy drink alternative and, led by independent brand Guayaki, CEO Daniel Scharff said the category grew double digits over the past year.
