Canopy Drops BioSteel, Sports Drink Brand Heads for Court-Ordered Sale
Canadian sports drink brand BioSteel is heading for a court-supervised sale after parent company Canopy Growth's decision to cut ties amidst painful cash burn and growing losses.
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Taste Radio: The Secret To Winning At Target, Whole Foods & Costco? It Starts With ‘Honey.’
Christy Goldsby, the founder of fast-growing refrigerated snack brand Honey Mama's, explained why demoing is the foundation of its marketing strategy, leaning on a ‘truth radar’ at every step during a package revamp, how the company navigated a high profile retailer’s devastating decision to discontinue the brand and why handing over day-to-day operations was the right move for its future.
Campari Announces CEO Transition Plan
Concluding an 18 year-run with the company in which he helped revive the Aperol Spritz, Bob Kunze-Concewitz, CEO of Campari Group, announced on Tuesday he will be stepping down from the Italian spirits company in April 2024.
Data: Non-Alc Beverage Sales Accelerate in Late August
Non-alcoholic beverage sales accelerated slightly over the two-week period ending August 26, with volume sales picking up pace against slowing pricing increases, according to the latest analysis of NielsenIQ data by Goldman Sachs Equity Research. Dollar sales in U.S. retail rose 7.9% in the two-week period, compared to +7.3% in the four-weeks and +7.8% in the 12-weeks.
Bacardi Acquires Ilegal Mezcal
Bacardi Limited has jumped fully into the mezcal game and acquired Ilegal Mezcal, the company announced today.
Brooklyn Brewery Takes Minority Stake in Hoplark, Forms Strategic Partnership
Brooklyn Brewery has taken a minority stake in Boulder, Colorado-based non-alcoholic (NA) hop tea maker Hoplark as part of a Series A funding round, the two companies announced today.
Molson Coors Ups Its Stake in ZOA with New Investment
Molson Coors Beverage Company’s faith in Dwayne Johnson-backed energy drink brand ZOA is rock solid. The beverage conglomerate “will strengthen its investment” in ZOA as part of its overall Beyond Beer non-alcoholic beverage growth strategy.
Icelandic Glacial Plans Facility Expansion, Retail Growth After Fundraise
It’s an international brand, and now, with cash in hand, it’s time for international growth. That’s the way Icelandic Glacial CEO Reza Mirza categorized this week’s news that the brand had received new equity funding from a group of new and existing investors.
This Week’s New Products: Spooky Soda, Plus GHOST, Rowdy Mermaid and LaCroix
In this week’s new products roundup, Fanta unveiled a spooky new soda guaranteed to turn your tongue black, Monster Energy teams up with Call of Duty to celebrate the game’s iconic Ghost character and Rowdy Mermaid dives into the functional soda space.
Diddy Wins Round One in Legal Battle With Diageo
Sean “Diddy” Combs has won the first round in the lawsuit against Diageo alleging that his spirits brands received worse treatment because of his race.
Taste Radio: The Competition You Didn’t See Coming. Plus, The Redemption Of Premium.
When legacy brands start looking like startups, should entrepreneurs be worried? The hosts discuss. They also highlight several new and notable products, including chakra-specific shots and a cap-activated bottled cocktail. We also meet with Alan Kennedy, the master blender for rye-forward whiskey brand Redemption, who discusses the brand’s emphasis on premiumization of experience across its portfolio.
Gatorade, Muscle Milk Bring Brand Recognition To New Spaces
The team over at PepsiCo-owned Gatorade and Muscle Milk are not trying to reinvent the wheel, that’s for sure. In fact, they are going deeper into their own specialized wheelhouses with the announcement of two new product lines today: Gatorade Water and Muscle Milk Plant.
NIQ: Non-Alc Reaches $510M; NA Craft Beer and Spirits Drive Growth
Non-alcohol spirits, wine and beer now have a market value exceeding half a billion dollars in off-premise channels, according to a new NIQ report on the category.
“Not Anywhere Close To A Ceiling”: Six Questions with The Zero Proof’s Sean Goldsmith
Adult, non-alcoholic beverage retailer The Zero Proof was one of the early adopters of offering the sober curious community ecommerce options for non-alc beverages. Co-founder Sean Goldsmith talked to BevNET about the company’s expansion into wholesale and what he sees in the future for the non-alc set.