Non-alcoholic beverage sales remained strong but continued to decelerate over the two-week period ending March 26, according to an analysis of NielsenIQ data by Goldman Sachs Equity Research. The sales slowdown resulted from slower volume growth, which was up by low single digits in the four-week period with several categories facing declines.
Beverage maker Keurig Dr Pepper (KDP) announced a management transition plan that will see CFO Ozan Dokmecioglu take over as CEO from Bob Gamgort, who is set to move into the role of Executive Chairman for two years. The change will become effective July 29, 2022.
Reed’s, Inc. reported double digit growth in its full year 2021 earnings report last week, with net revenue up 19% to $49.6 million. However, the ginger beer producer faced steep operating losses as supply chain disruptions drove up costs. Gross profit for the year rose 7% to $13.6 million, with a gross margin of 27.4% compared to 30.7% the year before.
Nurture Brands, the London-based food and beverage portfolio company behind the plant-based Myracle Kitchen brand, announced this week that it has closed a £2.5 million (around $3.3 million) funding round that will support its North American expansion.
New York-based coffee brand Wandering Bear announced this week that it has raised a $5 million funding round backed by existing investors. The new capital arrives as the company seeks to scale its online ecommerce business, which has become its main focus following a post-pandemic pivot.
After more than three years doing business exclusively in the U.K., non-alcoholic cocktail brand Mocktails has hired former GoTab SVP as its SVP of Hospitality to support its return to the U.S. market; Also, Laird Superfood hires a new SVP of sales and Super Coffee brings on a new president.
Though overall beverage sales remained strong, non-alcoholic drinks decelerated across nearly all categories in the two-week period ending March 12, according to an analysis of NielsenIQ data by Goldman Sachs Equity Research.
Non-alcoholic beverage sales saw modest acceleration over the two-week period ending February 26, according to an analysis of NielsenIQ data by Goldman Sachs Equity Research. Dollar sales were up 14.8% in the two weeks and grew 11.5% for the 52-weeks, however Goldman noted that the period included Super Bowl Sunday, which occurred prior to the period the year before.
In this video, recorded last week at Natural Products Expo West 2022 in Anaheim, California, Orgain founder and CEO Andrew Abraham discussed the strategic decisions that helped set the stage for the company’s acquisition, how Nestlé will open new doors for the brand, and the new innovations the brand is debuting this year.
Former Starbucks CEO Howard Schultz is returning to the company on an interim basis, following the resignation of chief executive Kevin Johnson, effective April 4. Schultz, will also rejoin the company’s board of directors as it searches for a permanent replacement, according to media reports this morning.
In this dispatch from Natural Products Expo West 2022, we look at several of the Asian-inspired coffee launches including Vietnamese, Thai and Indonesian styled innovations. As well, a plant-based milk tea brand, Twrl, made its Expo debut and dairy cooperative Organic Valley introduced new innovations for new and expecting mothers.
With war and inflation dominating headlines, consumers are looking for ways to unwind however they can, and New York-based beverage startup Leilo, maker of a line of kava-based relaxation beverages, is hoping to be the solution.
With the opening of its new CPG marketing services division, L.A. Vibrations, SoCal-based beverage incubator L.A. Libations has taken another step towards becoming a complete one-stop shop for startup brand building.
Spring is almost here and the latest ready-to-drink cocktail launches are preparing for the warm weather occasions, including new lemonade flavored vodka seltzers, shareable ready-to-serve margaritas, authentic Mexican tequila drinks and a canned Cosmopolitan.
