Oatly: Production Challenges Hit Revenue Targets in Q3
Shares of Oatly fell by double-digits earlier today after the Swedish oat milk maker downgraded its revenue growth targets for the rest of this year.
Headlines
Molson Coors Adds Topo Chico Hard Seltzer Glass Bottles Year-Round in 7 Markets
Molson Coors has begun selling Topo Chico Hard Seltzer in the brand’s iconic 12 oz. glass bottle in seven markets, the company announced.
The Latest New Products: Brew Dr., Kill Cliff Bring the Energy; Alani Nu Sparkles
In this roundup, we highlight new product announcements and releases over the past fortnight, including Alani Nu's first non-energy product, a striking new non-alcoholic hemp based elixir, plus new CBD-infused releases from Rhythm and Kill Cliff.
CELSIUS: Domestic Expansion Fuels Triple-Digit Q3 Growth
Having posted consistent triple-digit retail growth over the past several months, energy drink brand CELSIUS reported quarterly revenue grew 157% to $94.9 million during its Q3 earnings call this week.
Spirits News: Vamonos Riendo Mezcal Ramps Up Distribution; VIDE Expands With Southern Glazer’s
In this spirits news roundup: Vamonos Riendo mezcal ramps up distribution, VIDE expands reach through Southern Glazer’s network, Hecho Tequila reaches new markets through partnership with RNDC, Stoli Group unveils new eco-friendly bar model and Buzzbox displays sustainability features of its zero-waste production facility.
Taste Radio: What This Big Deal Could Mean For You. And, Why It’s Okay To Use The ‘F’ Word.
This week, Taste Radio’s hosts discussed one of the biggest deals in beverage history and what it might mean for future entrepreneurial drink brands, how a David rose up against a Goliath and notable products to cross our desks over the past week. This episode also features an interview with Kyle Peters, who recently made the gut-wrenching decision to shut down his high protein ice cream brand.
Earnings Roundup: Jones, Alkaline Water Co. and Reed’s Each Post Double-Digit Growth
Jones Soda reports double-digit Q3 growth and announces plans to move ahead on cannabis launch with eyes on early 2022 rollout; The Alkaline Water Company is seeing results from its sponsorship deal with Shaquille O'Neal, helping to reaffirm end of fiscal year guidance; Reed's is seeing high demand but also high inflation costs.
Riff Closes $2.5M Series Seed Round
Oregon-based coffee brand Riff announced today that it has closed a $2.5 million series seed round with investors including former NFL tight end Vernon Davis and Continental Grain COO and former Anheuser-Busch president Dave Peacock. This latest financing round opened in 2019 and has provided the startup company with a stream of spendable capital to support its growth initiatives over the past two years.
BioSteel Signs First Collegiate Athlete Brand Partner Azzi Fudd
Sports nutrition brand BioSteel announced today it has signed University of Connecticut women’s basketball freshman Azzi Fudd as its newest brand ambassador and partner, marking the brand’s first college-level NIL (Name, Image and Likeness) deal and bringing together one of the fast-growing brands in sports drinks and a rising star college athlete.
NACS Joins Suit Challenging COVID-19 Vaccination and Testing Standards
The National Association of Convenience Stores (NACS) is suing the U.S. Occupational Safety and Health Administration (OSHA) over its updated COVID-19 vaccination and testing standards, the trade group announced on Tuesday.
PepsiCo to Rebrand MTN Dew Rise Energy Following Court Order
PepsiCo announced yesterday it will drop “Rise” from the name of its MTN Dew Rise Energy line, signaling a temporary win for cold brew coffee maker Rise Brewing Co. in the company’s legal challenge over claims of trademark infringement. The product will be renamed “MTN Dew Energy.”
Pressed Teams Up With The EVERY Company to Launch Animal-free Protein Smoothie
Cold-pressed juice maker Pressed announced today it has partnered with food tech company The EVERY Company to launch a new plant-based smoothie, the first commercial product to feature EVERY’s animal-free ClearEgg protein as its key ingredient.
Taste Radio: Nowhere Is There A Place Like Erewhon… An Insider Explains Why.
Erewhon Chief Growth Officer Kabir Jain discussed the upscale grocer’s emphasis on being first when it comes to carrying new and unique concepts, how it defines innovation and why he describes brand selection as both “an art and science.” He also discussed the throughline for fast-growing food and beverage categories, and how the chain is supporting brands with highly actionable sales data.
Post-Drizly Spinoff, Lantern Elevates Prez Mahoney to CEO
Boston-based cannabis delivery platform Lantern announced the promotion of its president, Meredith Mahoney, to co-founder and CEO. The move comes less than a year after the company was spun off from former parent Drizly.