The dairy producer announced today it will use the bankruptcy process to “protect and support” ongoing business operations and address debt and pension obligations. Dean Foods has secured $850 million in debtor-in-possession financing from existing lenders to support continued operations ahead of an eventual sale.
OWYN Names Mark Olivieri President; Sweet Reasons Brings On Industry Vets; American Beverage Association Announces New Board Members; New Age Names Julie Garlikov as CMO; Rob Paladino Joins Sol-ti as President; David Kroll Exits COCO5
Despite declines in its North American business, Monster Energy Corp. saw net sales grow by double digits during the third quarter, the company announced in an earnings report yesterday. Speaking with investors during an earnings call, Monster vice chairman and president Hilton Schlosberg reported that net sales grew 11.6% to $1.13 billion, up from $1.02 billion in the third quarter of last year.
Although underlying net sales beat analysts’ projections, Keurig Dr Pepper (KDP) is still facing post-merger headwinds from its allied brands portfolio, the company announced in its third quarter earnings report today.
Plant-based dairy maker Mooala announced today it has raised $8.3 million in a Series A financing round led by Sweat Equities. The round brings the three-year-old brand’s total funding to more than $13 million. The round also includes additional financing from M3 Ventures, which led Mooala’s $5 million seed round last year.
Waltz CBD Seltzer Launches in Colorado; NOCCO Adds 500 Accounts Nationwide; Phivida Partners with Gotham Brands for Oki Rollout; Califia Farms Adds 3,200 7-Eleven Stores; Spindrift Launches in Publix; Cafe Agave To Expand Across the Country; Petal Adds Gelson’s; Positive Beverage Adds Target in California and Colorado
Based in Columbus, Ohio, W*nder is a line of sparkling waters containing 20 mg of CBD per 12 oz. can along, with various adaptogens and other functional ingredients. Though the sparkling water category has been a popular platform for upstart CBD brands founder Tanisha Robinson told BevNET that she intends to launch W*nder as a regional play in Ohio, where CBD beverages are still sparse.
Seeking to expand its sales and marketing team, sparkling yerba mate drink maker CLEAN Cause announced today it has raised $7 million in a series A round. Speaking with BevNET, CLEAN Cause founder and CEO Wes Hurt said the round was entirely financed by private individuals from the Austin, Texas area, where the nearly five-year-old brand is based.
Adam Louras Steps Down as Iris Nova COO to Launch Consulting Agency; Matt Kahn Leaves CELSIUS; Death Wish Coffee Appoints COO; Dunkin’ Brands CMO Steps Down; Zing Zang Names Brent Albertson as CEO
A Massachusetts court has ruled “fire cider” is a generic term that cannot be trademarked, potentially ending a yearslong legal battle between herbal brand owners and tonic maker Shire City Herbals; New Class Action Targets Brew Dr.’s Probiotic Count; Court Rules in Favor of 5-Hour Energy in Costco Case
The Coca-Cola Company beat analysts’ expectations in the third quarter of 2019, posting a 5% increase in organic sales growth and an 8% rise in net revenue to $9.5 billion, according to a quarterly earnings report released today. Among CSDs, the company’s core Coke line grew volumes 3% and retail value was up 6%. Coke Zero Sugar reported robust 14% volume growth globally.
Plant-based food and beverage brand Forager Project announced this week that it has received a minority investment from Danone Manifesto Ventures. Terms of the deal were not disclosed. Speaking to BevNET today, Forager Project founder and CEO Stephen Williamson said the company had to-date been mainly self-funded with some outside investment by individuals.
LA Distributing Company Announces Brand Incubator Program; Omni Partners with Presence Marketing to Provide Ecommerce Services; CELSIUS Adds 1,100 Kroger Locations; Nutpods Adds Target and Walmart; Phocus Expands in Texas
Sarah Bird Joins Beyond Broth as CEO; Riff Cold Brewed Hires VP of Business Development; REBBL Names New CMO; CLEAN Cause Appoints VP of Sales; Waterloo Sparkling Brings on New Sales and Marketing Leadership; Distill Ventures Announces New Executive Appointment
