Rainforest Expands to New England With Mass. Warehouse
Rainforest Distribution has opened a warehouse in South Easton, Massachusetts, expanding its services beyond its home base of New York into New England, according to information posted online.
Headlines
New Age Distribution DSD Arm Acquired by Legacy Distribution
Colorado-based beverage distributor Legacy Distribution Group, a subsidiary of CBD Global Sciences Inc., has completed its previously announced purchase of NewAge, Inc.’s direct store distribution business for over $2.2 million, according to a press release issued last week.
Good Karma Names Mike Murray as CEO, Funding Round to Close in ‘Near Future’
Good Karma Foods has named Mike Murray as its new CEO as the plant-based dairy alternative producer prepares to close a new financing round led by Valor Siren Ventures (VSV) and Loft Growth Partners.
Taste Radio: Category Leader. Highest Price On Shelf? Yep. How Serenity Kids Changed The Game.
Their flagship products have a suggested retail price that is nearly double those of legacy and competing brands. And, yet, Serenity Kids is outpacing them all. In this episode, founders Serenity and Joe Carr spoke about why maintaining a premium price point is key to the brand’s value proposition, their thoughtful sourcing and operations strategies, how they developed a sophisticated understanding of the packaged food industry and their rigorous hiring process.
Cometeer: Layoffs Hits Across Departments at Flash-Frozen Coffee Brand
Cometeer, the Massachusetts-based maker of flash-frozen coffee pods, laid off a number of employees across departments last week in a move sources described as an attempt to cut costs. The innovation-focused startup had grown to over 100 employees this year, following a $35 million funding round in 2021 that brought its total financing to around $100 million.
Court Blocks Albertsons’ $4B Special Dividend Payment To Shareholders
Washington State’s Supreme Court extended the block on Albertsons' $4 billion special dividend payment to shareholders late last week by granting the state attorney general’s (AG)’s request for emergency injunctive relief.
People Moves: Suja CMO Greg Rose Prepares to Exit, Saxon Seay Named to Role
Suja CMO Greg Rose is wrapping up a nearly six year tenure with the cold-pressed juice brand. Rose announced his departure from the San Diego, California-based company, effective at the end of next week. Also, Bang Energy COO Kathy Cole appears to have left the company.
Heritage Distilling Goes Public Post-SPAC Merger, Expands Network of Tribal Distilleries
Washington-based craft distiller Heritage Distilling announced this week its plans to merge with Better World Acquisition, a special purpose acquisition company (SPAC), to go public in a transaction that has a pro forma enterprise value of over $122 million.
Celsius Reaches Settlement Over “No Preservatives” Claim Controversy
Energy drink brand Celsius reached a $7.8 million settlement agreement late last month with a consumer group that claimed the drink’s front-of-can “No Preservatives” callout was misleading due to the product's inclusion of citric acid.
This Week’s New Products: Mocktails for Dry January, Plus the Debut of MatchaKo
In this week’s new products’ roundup, Spindrift makes its first foray into the mocktail set, Wild Tonic announces a new series extension on the heels of its recent rebrand and MatchaKo makes its national debut.
Darren Rovell’s Kickstand Cocktails Expands with New SKUs, Distribution
With his latest beverage alcohol play, sports business analyst and CPG investor Darren Rovell is feeling the heat – and he’s excited for it. Kickstand Cocktails launched earlier this year with a line of spicy ready-to-drink canned cocktails with 5.5% ABV per 12 oz. can.
Hoplark Restructures, Founder Eberhardt to Lead Innovation At Labs Division
Colorado-based beverage maker Hoplark is separating into two subsidiaries: Hoplark, which will oversee the core brand as it currently exists, and Hoplark Labs, a tech-driven division that will launch new beverage brands and products under the leadership of the company’s founder, Dean Eberhardt.
NielsenIQ: Non-Alc Beverage Sales Accelerate in Early December
Non-alcoholic beverage sales gained pace in the two-week period ending December 3 as volume growth “remained stable despite a slight acceleration in pricing,” according to an analysis of NielsenIQ data by Goldman Sachs Equity Research.
Report: E-Grocery Sales Down 10% YOY
As inflation continues to impact prices at the supermarket, U.S. consumers are spending less money buying groceries online, according to last month’s Brick Meets Click/Mercatus Grocery Shopping Survey.