While inflation may have hit consumers’ wallets hard last year, it hasn’t curbed their appetite for new CPG innovation, according to the 2023 New Product Pacesetters report from market research firm Circana.
After an explosive few years, the ready-to-drink rise is showing signs of moderating but larger formats of pre-mixed cocktails may be an emerging growth opportunity, according to NIQ during the company’s C360 conference yesterday.
Energy drink Kill Cliff announced it is expanding its partnership with celebrity podcaster Joe Rogan and adding endurance sport and bowhunting influencer Cameron Hanes as a new collaborator on an exclusive CBD beverage, Elk Blood Spicy Cherry.
8th Wonder Brewery, Distillery and Cannabis has been acquired by Bayou City Hemp Company, a Houston, Texas-headquartered cannabis company. Financial details of the deal were not disclosed.
Watermelon water maker Mela has partnered with independent California distributor Stone Distributing Co., making it one of the first non-alcoholic beverage brands in the DSD house’s portfolio of beer, hard kombucha and spirits brands.
Global beverage alcohol is projected to deliver over $21.6 billion to the global economy by the end of 2023, with premium plus segments and no/low alcohol representing bright spots, according to a report from the IWSR Drinks Market Analysis released today.
Diageo CEO Ivan Menezes, who led the world’s biggest spirits company for a decade, died at the age of 63 after a brief illness, the company announced on Wednesday. Debra Crew has been named interim CEO, effective immediately.
Spirits group Brown-Forman reported 8% organic growth in its fiscal 2023 year, fueled by its major whiskey brands Jack Daniel’s Tennessee Whiskey and Woodford Reserve, as well as the launch of Jack & Coke ready-to-drink cocktail, the company reported in its Q4 earnings presentation today.
As it prepares to transition its portfolio to Regenerative Organic Certified, an effort that kicks off with the announcement of its flagship almond milk earning the seal, longtime plant-based player New Barn Organics is set to put its business model to the test.
Seeking a leader that can help the company to scale and expand, cold-pressed juice bar chain and functional wellness brand Pressed Juicery has named Eureka! Restaurant Group co-founder Justin Nedelman as its new CEO.
Farrah and Yassin Sibai, the co-founders of Mediterranean-inspired frozen food brand Afia, explained why they have long relied on self-manufacturing, the importance of emphasizing both brand and product awareness, the effectiveness of Instacart ads and instant redeemable coupons and how “the validity of the vision” propelled Afia’s Series A funding round.
As the former chief creative officer for Bai and Crook & Marker, marketing creative Chad Portas has had a longstanding working relationship with entrepreneur Ben Weiss, who founded both brands. Now, the duo are partnering once again to launch Substratum, a New Jersey-based advertising agency and venture capital platform.
Vita Coco is shaking up summer in the Hamptons by offering beachgoers craft coconut water cocktails at several favorite hot spots including The Surf Lodge, Gurney’s Montauk Resort & Seawater Spa, Southampton Social Club and TT’s Montauk.
E. & J. Gallo is continuing its acquisition streak with Bev, a Los Angeles-based canned wine and spritz brand. The transaction comes two years after the spirits and wine group secured exclusive U.S. distribution rights to Bev’s portfolio.
