The food and beverage industry continues to step up and lend support to those in need during the COVID-19 pandemic. In this roundup, we highlight brands’ efforts to give back, including a Giving Back Giveaway featuring ten food and beverage brands and donations being made to support marginalized communities in New York City.
Pernod Ricard announced a 2.1% decline in sales for the first nine months of fiscal year 2020 and a 14.5% drop for the quarter in its Q3 earnings report yesterday, as the impact of the COVID-19 pandemic has begun to hit the spirits conglomerate’s bottom line.
With production set to fall this month by as much as 50%, concern has been growing about the security of CO2 supply chains for beverage companies. However, several brands reached by BevNET indicated they had not yet encountered issues.
Yesterday, John Raiche, EVP of supplier services at UNFI, discussed in detail how the industry is adapting to the changes brought on by the novel coronavirus in a webinar hosted by the Hirshberg Enterprise Institute. Raiche offered advice for how brands can adapt to the new environment while providing an update on how UNFI is responding to the demands of the crisis.
CBD-infused beverage maker Cloud Water had been preparing to make a broad retail expansion this year, aided by a new partnership with New York DSD distributor Big Geyser. But as the COVID-19 pandemic has slowed expansion in traditional retail channels, the company is adjusting its strategy in the hope that it can still hit triple-digit growth goals.
Kate Farms, a California-based maker of medical grade meal replacement drinks, has raised $23 million in a Series A-1 funding round, the company announced this week, bringing its total financing to $48 million. According to chairman and CEO Brett Matthews, the round will primarily go towards scaling company operations and increasing sales and marketing efforts.
Seeking a point of differentiation in the crowded cold brew coffee set, Boston-based Back Bay Roasters is shifting its focus from its single-serve line to its bag-in-box format, beginning with a rollout to 200 Walmart stores on the East Coast next month. The move comes as a number of rising cold brew startups have embraced multiserve packaging.
As the COVID-19 pandemic continues to disrupt daily life, food and beverage brands are continuing to launch new initiatives to give back and support those in need during the crisis. In this roundup, we look at several brands finding new ways to support musicians, food pantries and their own employees.
Amid a portfolio of distressed assets up for sale by Dean Foods, juice maker Uncle Matt’s Organic may not have been the biggest potential get. But that depends on who’s buying: for founder and CEO Matt McLean, who secured a $7.25 million deal to reacquire the brand last week, it’s a chance for a fresh start.
The coronavirus outbreak has come amidst a steadily increasing number of CBD and legal cannabis products and. Many brands from both the THC and CBD sides of the ledger quickly found sales growth as consumers rushed to stockpile goods from nearly all CPG sectors, but cannabis suppliers and entrepreneurs are now wondering what their industry will look like once the crisis passes.
A U.S. bankruptcy court approved last week the sale of all assets of dairy conglomerate Dean Foods, including a $433 million acquisition of properties by national cooperative Dairy Farmers of America (DFA). The decision comes roughly five months after Dean, at the time the largest dairy producer in the country, filed for Chapter 11 bankruptcy protection.
Founded in 2017, Wildwonder currently has a distribution footprint of about 100 independent retail doors and about 300 office and on-premise accounts. According to founder and CEO Rosa Li, the name change reflects a new brand identity that moves beyond tea and transforms the company into a broader health and wellness beverage platform.
EBOOST Surpasses 3,000 Doors Ahead of Nationwide Expansion; Sweet Reason Adds Big Geyser, L.A. Distributing; ALO Drink’s Jèn Collagen + Aloe Line Enters Sprouts Farmers Market Stores; Natalie’s Orchid Island Juice Company Expands in Whole Foods
While many established companies are bearing up under the storm thus far, small entrepreneurial brands, from early stage startups to regional players, who often have less distribution to start, are feeling the pain from retail disruptions. However, amidst lost supermarket sales or cancelled expansion plans, online is providing a possible bright spot for these brands.
