Dean Foods Returns to Plant-Based Products with Good Karma Investment
Originally a private label manufacturer of dairy-alternative milks, Good Karma developed its own branded CPG line in 2014 and expanded beyond beverages to yogurt in late 2016.
Headlines
MATI Energy Raises $2.5 Million in Equity Offering
According to a U.S. Securities and Exchange Commission filing, the financing is part of a total $3,750,000 equity offering. The round was led by IDEA Fund Partners, Duke Angel Network, and DUMAC, and included contributions from local investors around the company’s North Carolina homebase.
Monster Sees Net Sales Boost in Q1 Earnings
Net sales for the company’s Monster Energy Drinks segment increased 8.8 percent in Q1 to $845.5 million as compared to $777.5 in 2016, while net sales for Monster’s Strategic Brands segment were also up to $68 million as compared to $58.5 million for the same period in 2016.
Soylent Raises $50M in Venture Capital Funding
Los Angeles-based foodtech company Soylent has pulled in some Silicon Valley-grade investors, closing out a Series B financing round today with $50 million in funding, led by GV (formerly Google Ventures), bringing the company’s total funding to $74.5 million.
Spindrift Closes $10M Funding Round Led by VMG
In an interview with BevNET, Spindrift CEO Bill Creelman explained that the company’s rapid growth made securing more working capital a primary objective for this funding round.
People Moves: New CEO at True Drinks; Gerry David Post-Celsius
James J. Greco takes over as CEO at True Drinks, Gerry David takes first post-Celsius post at the Rocky Mountain High Brands board of directors, Art Carey joins Treo, Karen Wiernik takes on new role within CytoSport.
L.A. Libations Partners with Trimino
Beverage brand incubator L.A. Libations has partnered with Trimino, the Connecticut-based makers of a line of protein-infused flavored waters which has rapidly expanded out of its Northeast origins and into grocery and box store chains across the country.
Nielsen: CSDs Rebound, Energy Drinks Keeps Up Pace in April
Sales of carbonated soft drinks and energy drinks were up in April, according to a Wells Fargo Securities report detailing the latest Nielsen xAOC (expanded all outlets combined) and C-store non-alcoholic beverage sales data for the four-week period ending on April 22
Issues in Kombucha Pt. 1: Science v. Nature
In the first of an ongoing series examining issues related to the kombucha industry, we examine how the clash between hard science and unverified evidence regarding the fermentation process and health benefits of kombucha is shaping the category both consumers and producers.
Peet’s Coffee Seeks Cold Brew Dominance with ‘Coldcraft’ Unit
The company announced today the creation of Coldcraft, a new business unit dedicated to cold brew coffee innovation and distribution. Coldcraft will focus on building the RTD and draft keg business for Peet’s and third-wave coffee producer Stumptown, which the company acquired in 2015.
JÙS By Julie Warned By FDA Over Health Claims
The letter cited claims from the JÙS By Julie website stating that several of its cold-pressed juices and soups included ingredients that could “fight diabetes,” “lower bad cholesterol,” “control blood pressure” and “offsetting common life disrupting ailments such as depression and ADHD,” among other benefits.
Growth Brewing at EvyTea
The Boston-based Cold Brew Tea company is currently seeking to raise $1 million in a series A funding round. Its ready-to-drink line is now available in more than 500 retail stores in the Northeast, including 33 Whole Foods Markets.
Press Clips: Albertsons Explores Whole Foods Bid; Demi Lovato Tea Backlash
The Financial Times reports on Albertsons interest in acquiring Whole Foods, while Demi Lovato's Instagram endorsement of "detox" tea blend Teami sparks a backlash from some fans.
BevNET Podcast Ep. 55: Juicero Jeopardy, Sour Soylent, and Avoiding the Bottle Blues
In this episode of the podcast, we discuss some of the big stories in the food and beverage business, including tough press for Juicero, operational issues for brands like Soylent and Reed’s, and the ways the largest, publicly-traded food and beverage companies are attempting to refresh their lineups through transactions -- and through change at the top.