California-based meal replacement maker Soylent is ringing in the New Year with the launch of Soylent Complete, a new line of functional shakes intended to meet growing demand for “customizable nutrition.” The Complete line features two varieties: Soylent Complete Protein and Soylent Complete Energy.
Offering a line of functional energy shots tailored to niche use occasions, Vitamin Energy is seeking to gain a foothold with health and wellness-minded consumers looking for a better-for-you alternative to mainstream shots brands.
For the beverage industry, and frankly all of society, 2020 was a year of upheaval. Even as we say goodbye and good riddance, there’s plenty to look back on. As is tradition at BevNET, we present you with our Top 10 Most Read Stories of the year.
Last month, Jones Soda reported 17% revenue growth, up to $3.5 million, in a turnaround that reversed 18 months of declining sales. For the company, the earnings report signaled the end of a dark period for the brand and, hopefully, the beginning of a return to past glory for the Seattle-based craft soda maker.
Zevia, a maker of stevia-sweetened zero calorie beverages, announced today it has closed a $200 million minority investment by Canadian firm Caisse de dépôt et placement du Québec (CDPQ). According to Zevia CEO and chairman Paddy Spence, the new financing will support a global expansion strategy in the coming year.
Sprouts Farmers Market has aligned with L.A. Libations to test emerging, better-for-you brands in California as part of an ongoing partnership that will feature products in the beverage incubator’s SoCal Incubation Program (SIP), the retailer announced this week.
Giannuzzi Group, LLP, a New York-based law firm focused on the food and beverage industry, has renamed itself Giannuzzi Lewendon, LLP effective January 1 reflecting founding partner Ryan Lewendon; also Mad Tasty Names Kyle Simon as Director of Supply Chain and Operations and The Coca-Cola Company to Cut 2,200 Jobs.
Don’t Quit!, the meal replacement shake brand developed by Keurig Dr Pepper (KDP), L.A. Libations and fitness lifestyle company Body by Jake, is primed to roll out on KDP trucks early next year in a test run of its Max Protein line; also Circle Launches Direct-to-Consumer Online Store; KÖE Kombucha Expands in SoCal 7-Eleven Stores; Toutalou Partners with Urban Outfitters
National Beverage Corp., the maker of LaCroix, reported today that net sales increased 8% to $272 million in the second quarter of fiscal year 2021. Gross margin was $108 million in the quarter, which ended October 31, up 16.4% year-over-year. Operating profit increased to 22.7% of sales, up from 16.6% last year while net income grew 44% to $47.2 million, or $1.01 per share.
Building out their stake in rising consumer trends like gut health and plant-based diets, Chobani this month is releasing a broad slate of new products, including the Chobani Probiotics line of yogurts and drinks, and flavor extensions to its existing oat milk and creamers portfolio.
Molson Coors Beverage Company is further solidifying its relationship with L.A. Libations by investing in Arriba, a brand of michelada mixers operated by the California-based incubator. The partnership will place Arriba into Molson Coors’ distribution network, with a focus on growing the brand in the California and Texas markets.
Virginia-based kombucha brand Blue Ridge Bucha announced last week that it has been acquired by Hank Heyming, a venture capitalist who is also the co-founder and a managing partner of Trolley Ventures. Terms of the deal were not disclosed.
Jones Soda has named Mark Murray as its permanent president and CEO; Vermont-based kombucha maker Aqua ViTea announced an expansion of its leadership team with three new additions to its c-suite; Soylent co-founder Rob Rhinehart has stepped down as chairman of the company’s board of directors.
Hard coffee maker Bomani Cold Buzz announced last week that it has raised $3.5 million in an investment round featuring over 40 firms and individuals; Connecticut-based ‘Merican Mule, maker of a line of canned ready-to-drink Moscow Mules, announced last week a round of financing led by The Bishop Family, founders of Blue Buffalo pet food and SoBe Beverages.
