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.
VPX Sports, the maker of Bang Energy, is seeking an injunction against PepsiCo to stop it from making threats to its customers and wholesale distributors, as the two companies’ dispute over a long-term distribution contract moves into the legal phase.
CBD beverage brand Unity Wellness Co. has raised $1.25 million in a Series A funding round poised to aid the brand’s nationwide expansion. Founded in 2019, the California-based company is currently available in more than 500 stores across 16 states, including at Erewhon, alongside numerous independent accounts.
Connecticut-based tart cherry juice brand Cheribundi announced today the closing of a $15 million series B financing round, led by existing investor Emil Capital Partners. The round will go towards supporting new hires to the Cheribundi’s c-suite and sales team, as well as funding innovation, marketing and distribution expansion.
In this Distribution Roundup, brain-boosting energy drink NERD Focus lays the groundwork for national expansion with partnerships in New Jersey, Nevada and Tennessee. Meanwhile, CBD brands Caliper and DEFY secure c-store partnerships in Texas.
Almond and oat milk have been two of the key innovations driving the growth of plant-based milks in the U.S. But as consumers get comfortable with their dairy alternative of choice, is there room for one more? Roxana Saidi, CEO of pistachio milk maker Táche, believes that her brand is poised to beat sizable competitors on flavor.
