Prebiotic soda maker Poppi announced today that it has raised $13.5 million in a funding round backed by existing investor CAVU Ventures and a roster of celebrities from across the music, film and professional sports industries.
As consumers’ cravings for quality cocktails continue to grow, New York-based startup AVEC is hoping to bring a premium experience to the market with its line of better-for-you sparkling mixers.
This month, beverage technology company Cirkul announced that it has closed a $30 million series B round, led by AF Ventures. Launched in 2018, Cirkul is a Florida-based brand which markets a proprietary water bottle utilizing an unique cap which slowly adds concentrated flavor cartridges into the water as the consumer sips.
Non-alcoholic beverage sales continued to pick up over the two-week period ending July 14, reporting accelerated dollar sales and volume growth after an extended period of slowdown earlier this summer, according to an analysis of Nielsen data by Goldman Sachs Equity Research.
Last week, plant-based cheese and butter maker Miyoko’s Creamery emerged victorious in what could potentially be a landmark legal case for dairy and meat alternative CPG brands. However, the fight ahead is anything but cut and dried.
In this week's distribution roundup: Karuna expands to Sprouts Farmers Market; Kendall Jenner’s 818 Tequila is now in nine states, Flow Water partners with Honickman in New York and the Mid-Atlantic, Picnic Brunch expands across Texas, SelvaRey Rum partners with Republic National Distributing Co. and more.
Cannabis-infused “social tonic” maker Cann has partnered with Swedish pop star Tove Lo for its latest product launch: Peach Passionfruit Maté, a limited edition caffeinated beverage infused with THC.
![Tilray Acquires Majority of Debt and Warrants in Cannabis Retailer MedMen [Updated]](https://dg6qn11ynnp6a.cloudfront.net/wp-content/uploads/2021/08/18144047/Tilray-MedMen-970-150x150.jpg)
Canadian cannabis producer Tilray Inc. has acquired a majority stake in dispensary chain MedMen in a $165.8 million deal, the company announced today. As part of the deal, Tilray will acquire 75% of the California-based cannabis retailer’s outstanding secured convertible notes.
Oatly announced today Q2 revenue of $146.2 million, up 53.3% year-over-year in its first earnings report as a public company. Global foodservice sales accounted for 33.2% of revenue in the quarter, compared to 21.6% in the same period last year.
First Bev has acquired a controlling stake in Health-Ade Kombucha. The move comes alongside an executive shakeup for the brand as CEO Daina Trout moves into the new role of Chief Mission Officer while First Bev managing partner Jack Belsito is moving from investor to CEO.
California-based cactus water maker Caliwater, which relaunched in April under the leadership of filmmaker Oliver Trevena and actress Vanessa Hudgens, announced last week that it has raised $2 million in a seed round, backed by individual investors.
Plant-based functional beverage maker REBBL is expanding its category reach with two new product lines: prebiotic soda REBBL POP and mushroom-boosted REBBL Stacked Coffee. Stacked Coffee is available in four varieties: Straight Black, Cafe Mocha, Vanilla Latte and Hazelnut Latte.
Wandering Barman found victory in BevNET’s first ever Cocktail Showdown pitch competition today, emerging as the champion among a field of 10 ready-to-drink and ready-to-pour cocktail brands. The New York-based brand sells seven varieties of cocktails with multiple base spirit options and varying alcohol content.
Two Mexican-inspired spirit-based cocktail startups announced distribution gains this week, with RTD sparkling mezcal maker Elenita and tequila seltzer brand Volley both adding new DSD partners. Also, Lucky Jack partnered with Fresh Thyme Market and shelf-stable kombucha maker KÖE has added a number of new retail doors in the convenience, drug and grocery channels.
