Constellation Brands Net Sales +11%, Shipments +8.8%, Depletions +8.9% in FY 2022
Constellation Brands’ beer business recorded an +11% increase in net sales growth, to $6.75 billion, for the company’s 2022 full fiscal year.
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Distribution Roundup: Ruby Hibiscus Water Goes Sparkling Via Amazon, Earth Fare; Three Trees Goes Chainwide in Whole Foods Market
In this Distribution Roundup, Ruby Hibiscus Water goes sparkling via Amazon and Earth Fare, nut milk maker Three Trees goes chainwide in Whole Foods Market stores and TEN Alkaline Spring Water flows into Meijer stores across the Midwest.
Web3 Roundup: Siempre Tequila Introduces Bored Ape Brand Ambassador, Liquid Death Sells Out Murder Head NFTs
Siempre Tequila has introduced a virtual Bored Ape brand ambassador, marking the beginning of a push into web3 integration; Liquid Death sells out its Murder Head Death Club NFT line; evian introduces a limited NFT artist collaboration; Mid-Day Squares sells its Hershey diss video as NFTs.
Australia’s Remedy Drinks Aims to Disrupt U.S. Kombucha Set
For a decade, Remedy Drinks has been brewing down under. Now, the Australia-based kombucha brand is making a broader push into the U.S., bringing over a full slate of new products to American retailers this year.
Monster, Orange Bang Ask Court to Confirm $175M in Damages Against VPX
Family-owned beverage maker Orange Bang and Monster Energy Company have asked an U.S. District Court in California to confirm an interim award of $175 million in damages and a 5% royalty on all future net sales of Bang-branded products after an arbitrator found that VPX was liable for breach of contract and trademark infringement by falsely claiming its products contain creatine.
Marketing: Sparkling Ice, PepsiCo Honor Vets; SodaStream Teams With SEE Turtles
In this marketing roundup, Sparkling Ice honors America’s veterans through its third annual Cheers to Heroes campaign, plant-based beverage maker MALK encourages consumers to take their bottle and #turnitaround and SodaStream partners with David Hasselhoff to save the baby sea turtles. Plus, the founders of Finnish Long Drink try to help America become the happiest place on earth.
Refresco Completes Facilities Deal with Coca-Cola
Dutch bottling conglomerate Refresco has completed its acquisition of three U.S. manufacturing facilities from The Coca-Cola Company, as first announced in August 2021.
NielsenIQ: Beverage Sales Remain Strong as Price Increases Offset Volume Declines
Non-alcoholic beverage sales remained strong but continued to decelerate over the two-week period ending March 26, according to an analysis of NielsenIQ data by Goldman Sachs Equity Research. The sales slowdown resulted from slower volume growth, which was up by low single digits in the four-week period with several categories facing declines.
Taste Radio: How To Get In ‘Good’ With This Fast-Growing Online Grocer
Bentley Hall, the CEO of California-centric online grocer Good Eggs, spoke about how an intimate understanding of its customers and a highly-curated selection of products helped grow annual revenue to over $100 million. He also explained how Good Eggs articulates quality, its process for vetting and adding new brands to its service and how the company evaluates new platforms and technologies when mapping out its growth strategy.
Keurig Dr Pepper Announces CEO Transition Plan
Beverage maker Keurig Dr Pepper (KDP) announced a management transition plan that will see CFO Ozan Dokmecioglu take over as CEO from Bob Gamgort, who is set to move into the role of Executive Chairman for two years. The change will become effective July 29, 2022.
Reed’s: Company Sees Double-Digit Growth in 2021 Earnings, Operating Losses Rise
Reed’s, Inc. reported double digit growth in its full year 2021 earnings report last week, with net revenue up 19% to $49.6 million. However, the ginger beer producer faced steep operating losses as supply chain disruptions drove up costs. Gross profit for the year rose 7% to $13.6 million, with a gross margin of 27.4% compared to 30.7% the year before.
Westrock Coffee to Go Public, Agrees to SPAC Merger
Coffee wholesaler Westrock announced today it is merging with Riverview Acquisition, a special purpose acquisition company (SPAC), to go public in a transaction that values the combined company at just over $1 billion.
This Week’s New Products: Bazillion Strawberries, Berry Lemonade Health-Ade, and a New Look for San Pellegrino
With warmer weather and sunny days just around the corner, many beverage brands are rolling out summer-inspired drinks. This week’s shower of new products includes the launch of Mortal’s Basillion Strawberries, the release of Berry Lemonade Health-Ade Kombucha, and a makeover for San Pellegrino both inside and outside the can.
Jury Affirms No Co-Ownership With DRAM Apothecary and Rocky Mountain Soda
Earlier this month a jury in Colorado handed CBD and adaptogenic beverage maker DRAM Apothecary a partial victory in a lawsuit it had brought against its former manufacturing partner, Rocky Mountain Soda.