Report: Craft Spirits Reach $7.9 Billion in U.S. Sales; Growth Slows
U.S. craft spirits topped $7.9 billion in sales in 2022, growing 5.3% in value and 6.1% in volume, but slowed considerably from the year prior, according to a new report.
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Sprecher Brewing Co. Acquires Juvee
Marking its third acquisition since 2021, Wisconsin-based beer and craft soda producer Sprecher Brewing Company announced today it has acquired functional energy drink brand Juvee for an undisclosed sum.
Elevator Talk: MatchaKo, Lifted Supreme, Jabin, VUUM, Grim Reaper Coffee
Watch founders and CEOs introduce their brands and provide a recap of recent news and updates. This week's special co-host is Rebecca Bernard, the founder of Empire City Brand Builders, who shared her thoughts, questions and feedback with the participants.
Monster Previews 2024 Innovations, Bang Refresh at Investor Meeting
With its business expanding amid a rising U.S. energy drink category, Monster Beverage Corporation projected confidence in its widening product portfolio during its annual investor meeting presentation yesterday.
Nutrabolt Invests In TikTok-Powered Wellness Brand Bloom Nutrition
Nutrabolt, the nutrition supplement maker behind Cellucor and C4, has taken a 20% ownership stake in health supplement maker Bloom Nutrition.
Nutpods CEO Haydon on Acquisition: “We’re Just a Bigger Player Now”
Nutpods founder and CEO Madeline Haydon says the plant-based coffee creamer brand is only getting started following its acquisition today by Kroger-backed investment group MPearlRock.
Nutpods Sells to Kroger-Backed MPearlRock
Nutpods, the plant-based coffee creamer brand founded in 2013 by Madeline Haydon, has been acquired by Kroger-backed investment group MPearlRock, the company announced this morning. Terms of the deal were not disclosed.
Taste Radio: He Convinced A CPG Giant To Invest… Pre-Launch. Here’s How.
Marcus Sakey, the co-founder of Ritual Zero Proof, spoke about why Diageo invested in his non-alcoholic spirit brand pre-launch, how it became an anchor in an increasingly crowded category, the evolution of its marketing strategy and how he assesses challenges from new and existing brands.
Diageo and Diddy Settle Racial Discrimination Suit
After nearly nine months of an ugly public legal battle, Sean “Diddy” Combs and Diageo have settled disputes over allegations from the music mogul that the brands he collaborated with Diageo on— Cîroc Vodka and DeLeon Tequila— received worse treatment because of his race.
Report: Uber to Close Drizly E-Commerce Alcohol Delivery Platform
Uber has decided to shut down Drizly just three years after acquiring the alcohol e-commerce delivery platform for $1.1 billion, Axios reported today.
NIQ: Off-Premise Spirits Sales Reach $21.1 Billion in 2023; Without RTDs Remain Flat
Off-premise spirits sales hit $21.1 billion in 2023 according to market research firm NIQ. Spirits dollars, excluding ready-to-drink cocktails, remained flat with volume down, showing the significant contribution of canned cocktails to the category.
VUUM Marries Protein and Energy with Sparkling Beverage Launch
It’s a protein drink. It’s an energy drink. And its founders believe it can be a superior alternative to both categories leading brands. Founded by a pair of USC graduates, Los Angeles-based startup VUUM produces a line of functional sparkling drinks made with 135 mg of caffeine and 10 grams of pea protein.
Taste Radio: Does Anyone Do Instagram & TikTok Better Than These Brands?
While the volume of videos and images posted daily on popular social media platforms like Instagram and TikTok makes it challenging to capture users’ attention, the hosts highlighted brands that create consistently authentic and entertaining content as a way to break through the clutter.
From Cold Box Battles to Direct Shipping: The Key Regulatory Changes Shaping BevAlc in 2024
As 2024 revs up we chatted with BevAlc lawyers about what regulations have been hot topics amongst suppliers in the last year and what updates the industry is anxiously awaiting.