Relaxation drink Moment took home the title as New Beverage Showdown 19 champion today in the first-ever virtual edition of BevNET’s biannual pitch competition, which was sponsored by The Coca-Cola Company’s Venturing and Emerging Brands unit (VEB).
At-home consumption trends sparked by the COVID-19 pandemic appeared to continue in May even as parts of the country began to loosen restrictions, according to a Goldman Sachs Equity Research report on Nielsen sales data.
CrossFit saw several of its food and beverage brand partners end their affiliation with the fitness brand over the last 24 hours in response to a tweet by founder and CEO Greg Glassman about racism and public health.
Monster Beverage Corp. told shareholders at a meeting on Monday that energy drink sales are rebounding as the country begins to loosen restrictions related to the COVID-19 pandemic.
Canopy’s initial beverage lineup reflects its strategy: in Tweed, Houseplant and the forthcoming Deep Space, Canopy is seeking to establish unique identities for each brand while generally being as inclusive as possible.
In response to the death of George Floyd, some of the country’s largest food and beverage companies, as well as a large group of entrepreneurs and emerging brands, have offered statements of support, financial donations to advocacy groups and commitments to open a dialogue about racial justice in America.
At-home food and beverage consumption trends remain strong over the last month, according to an analysis of Nielsen data by Goldman Sachs Equity Research released earlier this week.
Boston-based functional shot brand DrinkTru has secured $1.5 million in new funding, founder James McNamara told BevNET last week. According to founder Jack McNamara, the company had been in talks over a potential investment with a venture capital partner for about four months before they pulled out in March, requiring the brand to quickly change gears.
Though preventative medicine is routinely of consumer interest, the onset of the coronavirus has made immune support a hot topic, particularly as no treatment, cure or vaccine currently exists. Until they are found, supporting a healthy immune system is seen-- and shopped -- widely as one of the ways individuals can be proactive in the fight against the virus.
Celsius reported over $28 million in revenue during the first quarter, a 95% increase over the same period last year and a new quarterly record for the brand.
New Age Beverage reported its best-ever Q1 revenue numbers over the last three months, despite headwinds from the global COVID-19 pandemic. In an earnings summary released today, the Denver, Colo.-based company reported net revenue increased 9.2% during the quarter, reaching $63.7 million versus $58.3 million in the prior year.
At a time when the world is shifting online, New York-based Owen’s Craft Mixers has secured an influential new digital partner: men’s lifestyle media company Barstool Sports.
Monster Energy reported over $1 billion in sales during the first quarter of 2020, though the company is preparing for more difficult days ahead. Net sales rose 12.3% ($1.06 billion) over the same period last year, with gross sales up 13.4%.
Essentia Water announced today that founder and CEO Ken Uptain will be shifting into a new role as the company’s Executive Chairman, with Scott Miller, CEO of Tampico Beverages, chosen as his successor. The change is effective June 1.