Refresco Completes Facilities Deal with Coca-Cola
Dutch bottling conglomerate Refresco has completed its acquisition of three U.S. manufacturing facilities from The Coca-Cola Company, as first announced in August 2021.
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NielsenIQ: Beverage Sales Remain Strong as Price Increases Offset Volume Declines
Non-alcoholic beverage sales remained strong but continued to decelerate over the two-week period ending March 26, according to an analysis of NielsenIQ data by Goldman Sachs Equity Research. The sales slowdown resulted from slower volume growth, which was up by low single digits in the four-week period with several categories facing declines.
Taste Radio: How To Get In ‘Good’ With This Fast-Growing Online Grocer
Bentley Hall, the CEO of California-centric online grocer Good Eggs, spoke about how an intimate understanding of its customers and a highly-curated selection of products helped grow annual revenue to over $100 million. He also explained how Good Eggs articulates quality, its process for vetting and adding new brands to its service and how the company evaluates new platforms and technologies when mapping out its growth strategy.
Keurig Dr Pepper Announces CEO Transition Plan
Beverage maker Keurig Dr Pepper (KDP) announced a management transition plan that will see CFO Ozan Dokmecioglu take over as CEO from Bob Gamgort, who is set to move into the role of Executive Chairman for two years. The change will become effective July 29, 2022.
Reed’s: Company Sees Double-Digit Growth in 2021 Earnings, Operating Losses Rise
Reed’s, Inc. reported double digit growth in its full year 2021 earnings report last week, with net revenue up 19% to $49.6 million. However, the ginger beer producer faced steep operating losses as supply chain disruptions drove up costs. Gross profit for the year rose 7% to $13.6 million, with a gross margin of 27.4% compared to 30.7% the year before.
Westrock Coffee to Go Public, Agrees to SPAC Merger
Coffee wholesaler Westrock announced today it is merging with Riverview Acquisition, a special purpose acquisition company (SPAC), to go public in a transaction that values the combined company at just over $1 billion.
This Week’s New Products: Bazillion Strawberries, Berry Lemonade Health-Ade, and a New Look for San Pellegrino
With warmer weather and sunny days just around the corner, many beverage brands are rolling out summer-inspired drinks. This week’s shower of new products includes the launch of Mortal’s Basillion Strawberries, the release of Berry Lemonade Health-Ade Kombucha, and a makeover for San Pellegrino both inside and outside the can.
Jury Affirms No Co-Ownership With DRAM Apothecary and Rocky Mountain Soda
Earlier this month a jury in Colorado handed CBD and adaptogenic beverage maker DRAM Apothecary a partial victory in a lawsuit it had brought against its former manufacturing partner, Rocky Mountain Soda.
Gopuff to Cut Hundreds of Workers
Delivery service Gopuff has fired hundreds of employees as it aims to cut costs, the company confirmed on Thursday. Former employees claimed the number was more than 1,000.
Koia Names The Weeknd, Kyler Murray Amid Slate of New Investors; Chris Paul In Discussions on “Expanding His Role”
Refrigerated plant-based beverage brand Koia’s cap table continues to grow with today’s announcement that Grammy-winner The Weeknd, comedian Kevin Hart and a wide ranging group of athletes and entertainment figures have made an investment. The new funding will go towards supporting product innovation and retail expansion.
Distribution Roundup: GNGR, B Great Shots Score Gains; Gopuff Delivers Chamberlain Coffee
In this Distribution Roundup, shot makers GNGR Labs and B Great announce new retail gains, Shaka Tea enters Whole Foods Market stores nationwide and Alkaline Water Co. reports growth in the military channel. Plus, Gopuff delivers Chamberlain Coffee drinks to your door.
Beverage Veterans Mark Mahoney and Lee Brody Enter Cannabis With The Drinkable Company
Describing itself as a group of “beverage experts entering the cannabis space as compared to cannabis experts entering the beverage space,” The Drinkable Company is aimed at leveraging its collective experience in beverages to break through the burgeoning $426 million dollar THC drinks market.
Provi Files Lawsuit Against Southern Glazer’s and RNDC, Alleges Violations of Sherman Antitrust Act
E-commerce beverage-alcohol platform Provi has filed a complaint against Southern Glazer’s Wine and Spirits and Republic National Distributing Company (RNDC) – the country’s two largest wine and spirits distributors – alleging that the companies have unlawfully stifled the growth of its platform.
11 New Whiskeys To Welcome Spring
In this whiskey gallery, we highlight a smattering of notable new releases for this spring, including a celebratory expression to mark the centenary of James Joyce’s Ulysses, the launch of GrandTen Distilling’s “South Boston Godfather” and a 7-year-old Irish single malt aged in rare Japanese Mizunara casks by Glendalough.