Fitness energy drink maker Celsius Holdings, Inc. saw a 43% increase in global revenue to $75.1 million last year, up from $52.6 million in 2018, according to its fourth quarter and full year 2019 earnings report released yesterday. In the U.S., sales rose 53% to $60 million and gross profit increased 49% to $31.3 million.
Premium bottled water maker Icelandic Glacial announced this month it is implementing new sustainability initiatives and expanding its product offerings to fuel its omnichannel expansion plans. The push towards sustainability comes eight months after the brand secured $66 million in new financing, including a $35 million investment from BlackRock’s US Private Credit team.
In support of its goal to double sales this year, Elmhurst 1925 launched three new product lines this month that take the New York-based plant milk brand into new categories including coffee and tea lattes and smoothie mixes, as well as making a deeper play into creamers.
Coming off triple-digit growth in 2019, Hellowater has partnered with Southeastern Grocers to add over 400 grocery channel accounts ahead of broader expansion this year. Co-founder and EVP of sales and marketing Rusty Jones said the Chicago-based brand, which markets a line of flavored waters infused with prebiotic fibers, is now available in BI-LO and Winn Dixie stores, bringing its total nationwide footprint to about 6,000 stores.
Premium sparkling water maker Spindrift has raised $29.8 million in a new funding round, its largest single round to date, according to a filing with the U.S. Securities and Exchange Commission (SEC) this week. The new round brings the Massachusetts-based company’s total financing to at least $70 million and is the first new funding the brand has received since a $20 million Series B round led by VMG Partners in 2018.
In the next edition in a series of news briefs, we catch up with Vive Organic to discuss a pair of new additions to its line of functional cold-pressed juice shots, while also checking out new plant-based innovations from teaRIOT and Protein2o.
In the first of a series of news briefs, we examine how DRY Soda is reintroducing itself as DRY Botanical Bubbly, positioned as a non-alcoholic alternative for “celebration occasions.” We also explore new cold brew innovations from illy and Rise Brewing Company (including tea).
Prior to the postponement of Natural Products Expo West 2020 on Monday, as much as 60% of attendees said they planned to skip this week’s event. But many others -- including early stage entrepreneurs -- were surprised by the late decision. For many, the news came after they had already arrived in Anaheim, and for some mid-flight.
Proud Source Water has raised $6 million in a financing round led by AF Ventures, the company announced today. Speaking with BevNET, Proud Source Water president CJ Pennington said the round will go towards increasing sales and marketing efforts for the Idaho-based bottled water brand.
Premium pickle brand Grillo’s is entering the beverage set with a line of cold-pressed pickle vinegar drinks launching next week at Natural Products Expo West 2020. Grillo’s founder Travis Grillo said the expansion into beverage is part of a larger effort to build a cross-category platform brand.
Vistar has taken a minority ownership stake in RTD yerba mate maker Yerbae, the beverage brand told BevNET, opening a partnership which will give the brand access to over 12,000 food service accounts nationwide. Yerbae CEO Todd Gibson said the investment comes as the brand prepares to roughly triple its retail distribution footprint by the end of this year.
Lemon Perfect Enters Big Geyser, Expands Whole Foods; CLEAN Cause Goes Chainwide in Whole Foods; Kill Cliff Adds Publix, Weis Market; SkinTE Goes Chainwide in Sprouts; The Bitter Housewife Adds Whole Foods Rocky Mountain Region
Constellation Brands announced this week it has acquired a minority ownership stake in Karma Culture LLC, the makers of Karma Wellness Water. The deal marks the beer and spirits giant’s first investment in a non-alcoholic beverage brand through its Constellation Ventures arm. Terms of the deal were not disclosed.
Canned water maker Liquid Death announced today it has raised $9 million in a Series A funding round led by Velvet Sea Ventures, bringing the company’s total funding to $11.25 million. The round will primarily help the brand to build out its sales team ahead of national expansion in retail and on-premise outlets this year and will also help to increase manufacturing output.
