PepsiCo debuted this week a redesign package for its 2-liter bottles across its core CSD portfolio, the first update to the format in nearly 30 years. The new bottle design, which will be rolled out across the Pepsi, MTN Dew, Crush, Mug Root Beer and Sierra Mist brands, among others, is intended to be easier to grip and pour for consumers.
Less than a year after entering an exclusive distribution agreement with PepsiCo that was touted as a blockbuster deal at the time, Bang Energy announced today it has terminated the relationship. According to a press release, Bang gave PepsiCo notice of termination on October 23, citing “multiple issues and concerns regarding PepsiCo’s performance since the parties’ distribution partnership began.”
Looking to provide a “gritty” and “accessible” take on botanical-infused sparkling water, New York-based startup Rockaway -- which launched online in September -- is seeking to marry on-trend health and wellness ingredients with a kickback-and-relax aesthetic to offer a differentiated take on the category.
Setting its sights on becoming one of the top kombucha brands in the U.S., Better Booch is targeting new growth channels including food service and ecommerce as it continues its nationwide expansion. The brand has placed an increased focus on health-based fast casual restaurant chains, with the brand entering By Chloe and Veggie Grill stores this fall.
Medical grade meal replacement producer Kate Farms announced today it has closed a $51 million Series B funding round led by Goldman Sachs and Kaiser Permanente Ventures. The round marks the second set of financing raised by Kate Farms this year, following a $23 million Series A-1 round which was closed in April. This new round brings the company’s total fundraising to $99 million.
In a sign that the at-home consumption trend appears as strong as ever, non-alcoholic beverage sales were up 12.2% year-over-year in the two-week period ending October 31, and up 12.7% in the four-week period, according to an analysis of Nielsen data by Goldman Sachs.
Ginger beer maker Reed’s reported 21% increase in net sales to $10.6 million in the third quarter, according to the company’s latest earnings report, setting the company on track to project 19% growth for the year.
With its third line launch of the year -- a set of low-sugar fruit smoothies which are rolling out at retail now -- plant-based beverage maker Koia is seeking to grow its presence in the cold case. The Koia Smoothie line is available in four flavors: Magic Mango, Rise & Shine, Straw-nana Dream and Tropical Passion.
While many health brands focus on building a loyal consumer base before being adopted by professional sports teams, tart cherry juice maker CHERRiSH laid its foundation in the athletic channel. But after a year of disruption in the sports world, the Washington-based company is now making a broader pitch to the everyday consumer, repositioning its products as overall wellness drinks for all ages.
Jones Soda turned around roughly 18 months of declining sales this fall, with revenue up 17% to $3.5 million according to the company’s Q3 earnings report this week. Gross profit as a percentage of revenue grew 430 basis points to 46% in the quarter, compared to 21.7% in Q2, while net loss improved to $450,000, compared to $476,000 previously.
In the dust of the HPP juice trend’s decline, two pioneering brands in the space have closed up shop. Last month, the parent companies of BluePrint and Daily Greens announced the two brands would be discontinued in decisions that now appear to be final.
Olaf Zachert has been named interim CEO of beverage portfolio company Brands Within Reach (BWR) following its $15 million acquisition by Zachert Private Equity in September.
Cannabis-infused beverage brand Cann announced last week that it has received investments from a roster of high profile backers including Goop founder Gwyneth Paltrow; actors Rebel Wilson, Ruby Rose and Darren Criss; NBA point guard Baron Davis; singer Tove Lo and YouTuber Casey Neistat.
The new products include non-perishable versions of the brand’s existing SKUs, including Original Bananamilk, Unsweetened Coconut Oatmilk, and original and vanilla bean versions of its Unsweetened Almondmilk. The milks retail for $4.33 per 1 liter carton while the creamers, available in Banana Nut, Oats ‘n’ Creme and Vanilla Bean flavors, sell for $3.74 per 11 oz. Tetra Pak.
