Agua Bonita Wins New Beverage Showdown 21
Agua Bonita, the maker of a line of better-for-you agua fresca drinks, claimed victory during New Beverage Showdown 21 today, taking the title as the latest champion of BevNET’s biannual pitch competition.
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Report: Vita Coco Plots IPO
Vita Coco parent company All Market Inc. (AMI) is planning to go public later this year with a potential valuation of $2 billion, according to media reports. According to Bloomberg, AMI -- which owns the Vita Coco, Runa and Ever & Ever brands -- could list shares by the third quarter, however plans are not finalized and are subject to change.
Løs Sundays Tequila Raises $3.5M
California-based spirits brand Løs Sundays Tequila announced today it has closed a $3.5 million Series A funding round closed out by CircleUp Growth Partners. Founded in 2017, Løs Sundays Tequila primarily markets its line of spirits -- which includes Blanco, Reposado and Coconut tequila varieties -- to younger consumers with a focus on women.
Rise Brewing Co. Sues PepsiCo, Alleging Trademark Infringement
Rise Brewing Co. is taking PepsiCo to court. The nitro cold brew coffee maker filed a lawsuit in the U.S. District Court for the Northern District of Illinois yesterday alleging that PepsiCo violated its trademark when it launched MTN Dew Rise Energy, a new energy drink which rolled out to stores this spring.
Free Samples Return To Grocery Stores Nationwide
Here’s another marker that life is approaching a post-pandemic “new normal”: the reintroduction of free samples in grocery stores nationwide. To the relief of brands, who have long relied on sampling to win customers, many retailers announced plans this month to allow brands back in-store for product demonstrations.
SunDaze to Launch in SoCal with a Goal of Taking Citrus Cocktail Occasions Beyond Brunch
With a trippy Southern California vibe and inspiration from mimosas, the SunDaze line of citrus ready-to-drink canned cocktails is aiming to unchain the juice occasion from brunch. SunDaze — which checks in at 6% ABV and comes in three flavors: Original Citrus, Botanical Citrus and Spicy Citrus — was founded by long-time CPG marketing consultant Arthur Gallego.
Six Entrepreneurs Advance To New Beverage Showdown 21 Final Round
The pandemic triggered an increased demand for functional and immune-boosting products over the past year – something that founders and judges paid attention to as they vied for the top prize in BevNET’s New Beverage Showdown 21 Semifinals.
Ohza Closes $4M Round Led by CircleUp
Ready-to-drink cocktail maker Ohza announced today it has closed a $4 million funding round led by CircleUp Growth Partners. The financing is expected to help the brand scale nationwide as it partners with distributors such as Southern Glazer’s Wine & Spirits and Breakthru Beverage group.
Taste Radio: How Did Chloe’s Execute The Perfect Pivot? They Understood The Opportunity.
Chloe Epstein and Michael Sloan, the co-founders of better-for-you frozen novelty brand Chloe’s, explained why they shifted focus from foodservice to packaged goods, the leap from a slow and steady growth strategy to one that embraced national distribution and why Chloe’s is not shy about putting a target on the back of big CPG.
Boxed To Become Publicly Traded Company
Online retailer Boxed announced this week that it would become a publicly traded company via a merger with SPAC Seven Oaks Acquisition Corp. The proposed deal values Boxed at roughly $900 million, Seven Oaks said in a presentation to investors today, and will leave Boxed with $334 million in cash to invest back into the company.
Analysts See Long Term Growth for Oatly
“Powerful branding, international exposure, and strong Environmental, Social, and Governance (ESG) credentials” are just three of the qualities making Oatly a major player in the plant-based food and beverage space, according to a new equity research report from Credit Suisse.
New Mexico Fresh Foods Opens Southwest HPP Facility
The phrase “food desert” gets used a lot, but when it comes to New Mexico it can be a tad more literal. On Thursday, New Mexico Fresh Foods (NMFF) will host a ribbon cutting ceremony to help change that, celebrating the opening of its new high pressure processing (HPP) tolling facility -- the first in the state.
Faire Raises $260M to Connect Brands with Retailers
Faire, an online marketplace for retailers and brands, announced yesterday that it had closed an additional $260 million in funding. The platform, which helps retailers connect with and place wholesale orders from emerging brands, recently expanded to Europe as well. #url#
Distribution Roundup: Wave Soda Goes Nationwide with Kroger, Lemon Perfect Builds Out DSD
Better-for-you CSD brand New Wave Soda is going national. The brand is currently available in about 2,000 stores nationwide and expects to be in roughly 8,000 doors by the end of the year, founder and CEO Nat Noone said; Cold-pressed lemon water brand Lemon Perfect is doubling down on DSD as it seeks to grow its retail footprint to 15,000 doors nationwide by the end of the year.