Sanzo, the New York-based maker of a line of Asian-inspired sparkling waters, announced today that it has raised $1.3 million in a funding round poised to help the brand expand its retail footprint. The round includes investments from Away co-founder Jen Rubio, Adobe Creative Cloud CPO and EVP Scott Belsky and Boba Guys co-founders Andrew Chau and Bin Chen.
Cafe Grumpy Targets Retail with Rainforest, KeHE; Sunwink Adds Distributors, Natural Retailers; CHERRiSH Grows in Pac NW; ¡CACTUS! Launches into H-E-B; Pure NZ Expands Ecommerce Presence; Twang Michelada Adds H-E-B
Non-alcoholic beverage sales reported strong double-digit growth last month, with all channel dollar sales up 12.4% for the 4-week period ended July 25, according to an analysis of Nielsen data by Goldman Sachs Equity Research.
Despite challenges from the COVID-19 pandemic, Keurig Dr Pepper (KDP) reported strong growth in its business during Q2, with the company’s diversified, omnichannel strategy helping offset significant losses in impacted channels, according to an earnings report this morning.
Keurig Dr Pepper (KDP) and Body by Jake -- the brand platform run by fitness guru Jake Steinfeld -- have teamed with L.A. Libations to launch Don’t Quit!, a line of better-for-you meal replacement drinks that will compete in the adult nutrition aisle.
As many in the food and beverage community this summer have embraced the Black Lives Matter movement and the drive to recognize Black-owned brands, a group of entrepreneurs and brand leaders is seeking to keep the conversation going online.
Seeking to expand its platform as a functional beverage company, New York-based Cloud Water is innovating beyond CBD with a new line of immunity boosting beverages launching this fall. Cloud Water +Immunity will be available in three flavors: Blood Orange and Coconut; Grapefruit, Mint and Basil; and Blackberry, Lemon and Rosemary.
Continuing its expansion into the global marketplace, Colorado-based New Age Beverages Corp. entered this week into a definitive agreement to acquire Utah-based multi-level marketing company ARIIX and four other international brands, bringing the company’s pro forma revenues to over $500 million with a footprint in 75 countries.
“Robust” at-home consumption drove beverage sales over the 4th of July holiday, according to an analysis of all channel Nielsen data by Goldman Sachs Equity Research. Overall beverage sales were up 11.6% year-over-year for the two-week period ending July 11, versus 12.2% growth for the 4-week period and 6.9% for the 52-week period.
The Coca-Cola Company said it is hoping the worst of the COVID-19 pandemic is behind them following a 28% net revenue drop to $7.2 billion during Q2, according to the conglomerate’s quarterly earnings report today, ending what CEO James Quincy said was arguably “the toughest and most complex quarter in Coca-Cola history.”
California-based beverage startup ZenWTR announced today that it has appointed Bryan Crowley as CEO. Crowley joins the sustainably-packaged alkaline water brand, founded by veteran entrepreneur Lance Collins, five months after leaving the chief executive role at Soylent.
In this Distribution Roundup, Lemon Perfect picks up two new DSD partners in Southern California in the form of John Lenore & Co. and Classic Beverage. Meanwhile, natural energy drink brand Sunshine is gaining a foothold in Florida through expansion in Publix and 7-Eleven. Plus, DRY makes moves in Texas, Aura Bora lands at Whole Foods and pea milk brand Sproud makes its North American retail debut.
On Tuesday, Oatly closed one of the largest food and beverage financing deals of the year when it announced a $200 million funding round led by Blackstone Growth. Speaking with BevNET, Oatly CEO Toni Petersson said the financing represents a diversification of the company’s ownership structure, bringing in an American firm that will work directly with its European and Asian arms.
As consumers continue to seek better-for-you options in the hydration and sports drink space, Arizona-based Recover 180° is aiming to amplify its nationwide presence as it expands into new regional markets across the country. Founded in 2018 by real estate developer Mike Meldman, Recover 180° makes a line of functional hydration drinks intended to meet multiple need states including post-workout, travel, and hangovers.
