Seeking to expand its platform as a functional beverage company, New York-based Cloud Water is innovating beyond CBD with a new line of immunity boosting beverages launching this fall. Cloud Water +Immunity will be available in three flavors: Blood Orange and Coconut; Grapefruit, Mint and Basil; and Blackberry, Lemon and Rosemary.
Continuing its expansion into the global marketplace, Colorado-based New Age Beverages Corp. entered this week into a definitive agreement to acquire Utah-based multi-level marketing company ARIIX and four other international brands, bringing the company’s pro forma revenues to over $500 million with a footprint in 75 countries.
“Robust” at-home consumption drove beverage sales over the 4th of July holiday, according to an analysis of all channel Nielsen data by Goldman Sachs Equity Research. Overall beverage sales were up 11.6% year-over-year for the two-week period ending July 11, versus 12.2% growth for the 4-week period and 6.9% for the 52-week period.
The Coca-Cola Company said it is hoping the worst of the COVID-19 pandemic is behind them following a 28% net revenue drop to $7.2 billion during Q2, according to the conglomerate’s quarterly earnings report today, ending what CEO James Quincy said was arguably “the toughest and most complex quarter in Coca-Cola history.”
California-based beverage startup ZenWTR announced today that it has appointed Bryan Crowley as CEO. Crowley joins the sustainably-packaged alkaline water brand, founded by veteran entrepreneur Lance Collins, five months after leaving the chief executive role at Soylent.
In this Distribution Roundup, Lemon Perfect picks up two new DSD partners in Southern California in the form of John Lenore & Co. and Classic Beverage. Meanwhile, natural energy drink brand Sunshine is gaining a foothold in Florida through expansion in Publix and 7-Eleven. Plus, DRY makes moves in Texas, Aura Bora lands at Whole Foods and pea milk brand Sproud makes its North American retail debut.
On Tuesday, Oatly closed one of the largest food and beverage financing deals of the year when it announced a $200 million funding round led by Blackstone Growth. Speaking with BevNET, Oatly CEO Toni Petersson said the financing represents a diversification of the company’s ownership structure, bringing in an American firm that will work directly with its European and Asian arms.
As consumers continue to seek better-for-you options in the hydration and sports drink space, Arizona-based Recover 180° is aiming to amplify its nationwide presence as it expands into new regional markets across the country. Founded in 2018 by real estate developer Mike Meldman, Recover 180° makes a line of functional hydration drinks intended to meet multiple need states including post-workout, travel, and hangovers.
An internal battle over whether to publicly support the Black Lives Matter movement at Red Bull has led to the exit of two of the energy drink maker’s top North American executives, according to media reports this week. In an email to BevNET, Red Bull confirmed that Red Bull North America (RBNA) CEO Stefan Kozak and president and CMO Amy Taylor were “no longer with the company.”
Detroit-based beverage company Ellis Island Tea announced this week that it has received an investment from comedian Kevin Hart, a partnership that will allow the brand to increase production ahead of expansion plans this year. Details of the deal were not disclosed.
PepsiCo’s North American beverage business felt the brunt of the COVID-19 pandemic in Q2, the company announced today in its quarterly earnings report, as organic revenue fell 7% due to declines in the convenience, gas and food service channels, offsetting positive growth in grocery, mass and dollar stores.
Having spent the past seven years staking its territory online, New Mexico-based Caveman Coffee is on the hunt for new consumers through a retail expansion and new innovations rolling out this year. Founded in 2013 by CEO Lacie Mackey, a former fitness trainer, and actors and MMA fighters Tait Fletcher and Keith Jardine, Caveman produces a variety of coffee and tea products, including MCT oil-infused lattes.
Having spent the last decade investing in food and beverage brands through venture capital firms, Tom First is once again building a product and brand from the ground up with Culture Pop, a new probiotic soda that launched online and in select retailers this summer.
Colorado-based CBD drink maker Defy LLC filed a lawsuit last month against Tennessee-based hydration beverage brand Defiance Fuel, claiming the latter company infringed on its trademarks; A new lawsuit against 75 members of Dairy Farmers of America’s (DFA) leadership team is accusing the co-op of extortion and cartel-like tactics; Family of late Hansen’s Beverage Co. founder Hubert Hansen were awarded $17 million in a ruling against The Coca-Cola Company and Monster.
