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.
Better-for-you mixer brand AVEC announced this week it has closed a $1.2 million seed funding round led by Gather Ventures, an investment firm specializing in plant-based products. The round also included funding from Black Ambition, a prize fund supporting minority-owned companies founded by singer Pharrell Williams.
Canopy Growth Corporation has entered a definitive agreement to acquire cannabis edibles maker Wana Wellness for $297.5 million, which will go into effect upon federal legalization of THC in the U.S.
“Don’t drink your calories” is a classic piece of health advice, and American consumers are increasingly following it as average overall calorie consumption from beverages has fallen 10% since 2014, according to a new progress report on the Beverage Calories Initiative (BCI).
More Labs, the parent company of hangover shot brand Morning Recovery, announced this week it has raised $10 million in a Series B funding round. The round was led by Btomorrow Ventures, an investment arm of British American Tobacco (BAT), owner of cigarette brands like Camel, American Spirit and Newport.
PepsiCo-owned yerba mate brand Yachak Organic has rolled out a rebrand for its line of 16 oz. beverages. The refresh presents not just an entirely new visual identity for the brand, which launched in 2017 as a subsidiary of Rockstar Energy, but also aims to more firmly position the drink in the energy space.
San Francisco-based Rhythm CBD Seltzers, is deepening its presence in its home market with the announcement of its first distribution partner, Bay Area distributor Danlies. In signing with Danline, Rhythm has landed with an early adopter of CBD products which also services brands like VYBES, Daytrip, Kickback, Proposition Cocktail Co. and Kefla Organics in over 900 accounts.
