Toronto-based canning company Wildpack announced today it has acquired Michigan-based Land and Sea Packaging for $26.1 million, as well as common shares of Wildpack with an aggregate value of about $11.2 million.
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The Coca-Cola Company announced today that it has acquired full control of sports drink maker BodyArmor for $5.6 billion, its largest acquisition to date. The beverage giant is exercising its option to purchase BodyAmor in full at a pre-existing discount, as included in a 2018 deal that gave Coke U.S. distribution rights to BodyArmor and a 15% stake in the brand.
Buoyed by strong third quarter earnings results this week, Keurig Dr Pepper (KDP) has raised its 2021 net sales growth guidance from 7% to 8% for the year as the company benefits from increased consumer mobility and approaches the end of its three-year post-merger period.
The Coca-Cola Company reported “strong” double-digit revenue growth in its third quarter earnings results this week, leading to higher year-end projections as volume sales surpassed 2019 levels amid an “asynchronous” pandemic recovery.
In this week's distribution roundup: Zen Hemp Infusions expands through PFG; KeHE signs new contract with Erewhon; Alkaline88 partners with Ohi and GNC and Woke Up! Energy signs on with Mr. Checkout Distribution.
Citing recent supply chain challenges, Credit Suisse lowered expectations for the company’s sales performance ahead of the release of its Q3 2021 earnings report next month. The revised coverage has decreased expected 2021 revenue for the Swedish oat milk maker from $694 million to $685 million.
Aiming to expand outside of the Midwest, Wisconsin-based craft brewery Sprecher Brewing Co. has acquired the brand portfolio of regional soda maker WIT Beverage Co. (WBC) for an undisclosed sum.
In the spirits space there’s premium, and then there’s premium. Now, as the alcohol industry embraces RTD formats, pre-mixed cocktails are receiving the luxury treatment. The Gold Fashioned is available online and in select retail locations and sells for $150 per 750 mL bottle. Each bottle also comes packaged in a blue and gold box featuring details about the sourcing of each ingredient.
One year after the launch of its RTD sports drink line, BioSteel is drawing comparisons to one the category’s major players -- and not just because of its name. Last month, a report from Goldman Sachs Equity Research praised the Toronto-based company, calling it an “emerging disruptor in the sports drink category” that “reminds us of an early stage BodyArmor.”
In this People Moves roundup: Eternal Water taps Essentia talent, Jones Soda names new CMO amid push towards cannabis, Lemon Perfect brings on PepsiCo Water+ alum as CMO, Jennifer Yu in as Diageo’s VP of Brands and Culture and New Wave Soda Brings on J.W. Fischer as Sales VP.
Clean energy drink brand X2 Performance announced today it has partnered with Anheuser-Busch InBev’s AB ONE distribution network to expand its presence in the California market. Based in New Jersey, X2 makes a line of NSF Certified for Sport energy drinks containing antioxidants and electrolytes.
All channel beverage sales have remained strong this month, despite an ongoing volume shift towards the on-premise channel. According to an analysis by Goldman Sachs Equity Research of Nielsen sales data for the period ending October 9, non-alcoholic drinks were up 12.9% in the two-week period while total dollar sales grew 22.6% in the period on a two-year stacked basis.
Seeking to expand operations and fund new marketing initiatives, Humm Kombucha announced today that it has opened an $8 million line of credit with Naturally Gerber Finance. In a press release, the Oregon-based kombucha brand said it intends to use the credit to hire new staff, purchase machinery and “fund large-scale retail programs and marketing initiatives.”
Convenience channel beverage sales were strong in the third quarter, according to the latest Beverage Bytes retailer survey by Goldman Sachs Equity Research, but ongoing supply chain disruptions are poised to put more pressure on brands and stores in the coming months.
