Oatly announced today Q2 revenue of $146.2 million, up 53.3% year-over-year in its first earnings report as a public company. Global foodservice sales accounted for 33.2% of revenue in the quarter, compared to 21.6% in the same period last year.
First Bev has acquired a controlling stake in Health-Ade Kombucha. The move comes alongside an executive shakeup for the brand as CEO Daina Trout moves into the new role of Chief Mission Officer while First Bev managing partner Jack Belsito is moving from investor to CEO.
California-based cactus water maker Caliwater, which relaunched in April under the leadership of filmmaker Oliver Trevena and actress Vanessa Hudgens, announced last week that it has raised $2 million in a seed round, backed by individual investors.
In an email to customers yesterday distributor UNFI announced that it would shift its Winter Natural Show to a virtual-only format. The expo, for suppliers of the ubiquitous natural foods distributor, was slated to be held in Las Vegas Sept. 7-9 and was going to be the company’s first in-person event following the start of the Covid-19 pandemic last year.
Plant-based functional beverage maker REBBL is expanding its category reach with two new product lines: prebiotic soda REBBL POP and mushroom-boosted REBBL Stacked Coffee. Stacked Coffee is available in four varieties: Straight Black, Cafe Mocha, Vanilla Latte and Hazelnut Latte.
Wandering Barman found victory in BevNET’s first ever Cocktail Showdown pitch competition today, emerging as the champion among a field of 10 ready-to-drink and ready-to-pour cocktail brands. The New York-based brand sells seven varieties of cocktails with multiple base spirit options and varying alcohol content.
Two Mexican-inspired spirit-based cocktail startups announced distribution gains this week, with RTD sparkling mezcal maker Elenita and tequila seltzer brand Volley both adding new DSD partners. Also, Lucky Jack partnered with Fresh Thyme Market and shelf-stable kombucha maker KÖE has added a number of new retail doors in the convenience, drug and grocery channels.
Citing increasing demand for oatmilk in retail and foodservice, plant-based milk producers Oatly and SunOpta are ramping up production, with both companies announcing plans for new facilities in Texas set to open over the next few years.
Vita Coco parent company All Market is continuing its expansion beyond coconut water with the launch of a new line of protein-infused waters called PWR LIFT.
Iconic Protein has unveiled a new minimalist packaging design and green-centric color scheme with the goal of engaging consumers with the functionality and ingredients of each product.
Non-alcoholic beverage sales accelerated during the two-week period ending July 31, improving after several weeks of slow down amid a lap of last year’s pandemic-driven at-home consumption spike, according to an analysis of Nielsen data by Goldman Sachs Equity Research.
Last month, still hot on the hype of its highly publicized May IPO, plant-based milk maker Oatly sustained its first major setback as a publicly traded company when Spruce Point Capital Management released a document claiming that the company had misrepresented its success. What can other companies learn from this about going public?
Earlier today, The Specialty Food Association (SFA) cancelled the in-person trade show portion of the Fancy Food Show 2021. Slated to run September 27 through 29 in New York City, the event will now move to a fully virtual format. Meanwhile, New Hope, and its parent company Informa, announced new Covid-19 related protocols for Natural Products Expo East.
Non-alcoholic craft brewery Athletic Brewing is preparing to open a pop-up facility featuring “the intersection of beer and burpees” in Austin, Texas, the company teased today on social media.
