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.
Drink Weird, the Texas-based beverage startup created by a trio of former Rockstar Energy executives, feels the time is now right to move out of a soft launch period and into a full-on rollout of its expanded and rebranded line of teas, waters and yerba mate drinks.
When plant-based nutrition brand Soylent began in 2013, it adopted a tech-influenced approach, dubbing its products Soylent 1.1, Soylent 2.0, and so on. Now, after its acquisition by CPG portfolio company Starco Brands earlier this week, the food and beverage maker is in stable release.
Publicly traded consumer products company Starco Brands, Inc. has acquired plant-based food and beverage maker Soylent, completing the brand’s evolution from red hot food-tech startup to cross-category CPG platform.
Looking to meet demand for clean label sports nutrition products, Boston-based food innovation lab Chew announced this month the launch of its first in-house brand, Fastfood.
CLEAN Cause is looking to spread its support for addiction recovery further with its latest product launch: Sparkling Pick-Me-Up, a functional sparkling water line infused with collagen and prebiotics. According to founder Wes Hurt, the new line was soft launched last year in Austin, Texas-area stores and is now available in about 200 doors as well as online direct-to-consumer.
Functional beverage maker Tru Inc. has raised $6.5 million in a Series A funding round led by BTomorrow Ventures, an existing investor and the corporate venturing arm of British American Tobacco.
The Coca-Cola Company is continuing its “total beverage” mission this year by putting more focus on categories with long growth runways such as coffee, sports drinks, and alcohol, CEO James Quincey said during the company’s Q4 and full year earnings call yesterday.
Supported by partnerships with boxer Manny Pacquiao and hip hop star T-Pain, Takeover Industries, the maker of hydrogen water and gamer energy shot brand NXT LVL, looked to be riding high. Now the business is fighting to rebuild and numerous lawsuits show that the path that led Takeover to this moment appears to be anything but business as usual.
Yerbaé is set to become the latest beverage company to go public as the plant-based energy brand announced today that it has completed a reverse triangular merger in order to begin trading on the Toronto Stock Exchange.
Seeking to swiftly amplify its sales and velocity over the coming years, California-based plant-based beverage company Koia has transitioned to a vertically integrated production model with the acquisition of a production facility in Anaheim.
A new generation of AAPI owned and operated startup brands have launched online and in-store recently, sporting premium and better-for-you versions of products that look to reclaim the heritage of and rebuke stereotypes about Asian cultures and Asian foods. With vibrant, modern branding and messaging and an emphasis on authentic flavor, brands have emerged to sell new takes on classics.
