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.
Non-alcoholic beverage sales accelerated during the two-week period ending July 31, improving after several weeks of slow down amid a lap of last year’s pandemic-driven at-home consumption spike, according to an analysis of Nielsen data by Goldman Sachs Equity Research.
Last month, still hot on the hype of its highly publicized May IPO, plant-based milk maker Oatly sustained its first major setback as a publicly traded company when Spruce Point Capital Management released a document claiming that the company had misrepresented its success. What can other companies learn from this about going public?
LIFEAID Beverage Co. announced this week that it has raised $20 million in an oversubscribed Series C financing round. The capital will go towards supporting the brand’s growth in retail in the U.S. and overseas, as well as funding new innovation and c-suite level hires.
A federal judge in Florida ruled this week that Monster Energy Corp. did not violate the trade dress of Bang Energy when it launched performance energy brand Reign Total Body Fuel in 2019, putting a cap on one branch of the ongoing legal feud between Monster and Bang manufacturer Vital Pharmaceuticals (VPX).
Despite pandemic headwinds, can shortages and supply chain disruptions, Monster Energy Corp. saw net sales rise 33.6% to $1.46 billion in Q2, according to an earnings report this week. Second quarter net income rose 29.7% to $403.8 million and net income per diluted share was up 28.6% to $0.75 per share.
At 11 years in business, Colorado-based Keef Brands is already a veteran of the nascent cannabis beverage category. As the company has grown alongside the recreational marijuana industry, it’s now preparing to begin its next act as an international brand driving the growth of THC beverages through innovation and expansion.
In this week's Distribution Roundup, Richard's Rainwater expands with new formats nationwide at Whole Foods, while Republic National announces its new slate of CBD beverage partners.
Better-for-you energy drink maker EBOOST has debuted new branding and a reformulated liquid for its ready-to-drink line. The company, which is distributed through a partnership with AriZona Beverages, will debut the revamped products in 12 oz. cans this summer and plans to follow with a 16 oz. format for convenience retailers later this year.
