After announcing the closing of a $29 million Series B funding round on Thursday, performance energy drink brand A SHOC is looking to increase brand awareness and fuel its expansion with the support of its expanded athlete investor team, according to CEO Paul Nadel.
Performance energy drink brand A SHOC announced today it has closed a $29 million Series B funding round backed by existing investors and a roster of celebrity athletes.
Austin, Texas-based RTD cocktail brand Canteen Spirits has hired industry veteran Brian Smith as its new Chief Sales Officer, charged with leading the brand’s national expansion; Zach Rueda, chief brand officer of Massachusetts-based flash frozen coffee capsule producer Cometeer, has stepped away from the company.
Talking Rain Beverage Company, the parent company of Sparkling Ice, announced today it has appointed Ken Sylvia as its new permanent CEO, effective immediately. He had been serving as interim CEO since Chris Hall’s abrupt departure on April 1. Sylvia joined the Seattle-based company in 2010 and has held a variety of roles, most recently serving as COO overseeing sales and supply chain.
Hydrogen-infused water maker Susosu has closed a seed round backed by food and beverage accelerator Union Kitchen, marking the Virginia-based brand’s first ever outside investment. Terms of the deal were not disclosed.
Siempre Tequila has introduced a virtual Bored Ape brand ambassador, marking the beginning of a push into web3 integration; Liquid Death sells out its Murder Head Death Club NFT line; evian introduces a limited NFT artist collaboration; Mid-Day Squares sells its Hershey diss video as NFTs.
For a decade, Remedy Drinks has been brewing down under. Now, the Australia-based kombucha brand is making a broader push into the U.S., bringing over a full slate of new products to American retailers this year.
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.
