Campari: Sales Up Despite Bad Weather, Agave Renegotiations
Campari Group reported positive sales growth in the first half of 2024, but warned that temporary headwinds will impact its gross margins during its H1 2024 earnings call yesterday.
News
Vita Coco: Execs, Analysts Optimistic as Q2 Earnings Report 3% Growth
The Vita Coco Company posted 3% net sales growth to $144 million in its Q2 2024 earnings report this morning, bolstered by improvements to its core coconut water line. Year-to-date net sales were up 3% to $256 million.
Diageo Reports First Full-Year Losses Since Pandemic
Marking its first annual sales loss since 2020, Diageo reported a -1.4% fall in net sales for fiscal year 2024 during its earnings call Tuesday morning.
Taste Radio: LesserEvil Is Doing Good. Really Good. Attitude & Operations Are The Keys.
Charles Coristine, the CEO of high-flying better-for-you snack brand LesserEvil, talks about the company's self-manufacturing model and how it relates to retail strategy, innovation and gross margin, why making organic foods affordable is both moral and fiscally wise and what he’s learned about staffing, leadership and branding.
Siddhi To Deploy New $135M Fund II For Growth Stage Investments
Siddhi Capital announced the closing of its second fund today at $135 million; the new vehicle marks the firm’s shift from startup to growth equity stage investments and a broadening beyond food and beverage.
Insider Daily Briefing: The Impenetrable Popularity of Protein Shakes
Also in this edition: the FDA warns of a deadly Kratom product, Jones Soda secures $3 million private placement, why The Aether Group is going after mezcal and more.
Taste Radio: When Innovation Goes Right… And, When It Goes Terribly Wrong.
There’s high praise, some head-scratching and outright dismay in this innovation-centric episode of Taste Radio. Among the highlights: an upstart labneh brand and a Gen Z-inspired line of better-for-you soda. Less appealing: a corporation’s commodification of ethnic foods and global flavors.
Aether Group Targets Corte Vetusto for Turnaround Potential in U.S. Market
Sometimes it’s a brand’s challenges that make it an attractive acquisition target. Last week, the Aether Group, a recently launched incubator and brand house from a former Coca-Cola executive made its first acquisition: Corte Vetusto, a mezcal brand with a U.K. footprint whose U.S. distribution stalled due to the pandemic.
New Products: Chobani’s Fall Seasonals, Plus Wandering Bear, Amaí, Celsius and More
In this week’s new products roundup, Chobani and La Colombe gear up for fall, Celsius takes inspiration from a classic soda flavor and ALOHA shows off its new PET packaging for its protein drinks.
NielsenIQ: Non-Alc Beverage Sales Stay Healthy in Early July
Non-alcoholic beverage sales remained solid in early July as volume sales accelerated in the two-week period ending July 13, according to an analysis of NielsenIQ retail scanner data by Goldman Sachs Equity Research. Retail dollar sales grew +3.6% in the two-week period, compared to +3.9% in the four-week period.
Southern Glazer’s to Acquire Horizon Beverage, Adding Massachusetts and Rhode Island to Footprint
Southern Glazer’s Wine & Spirits has plans to acquire Horizon Beverage Group, Southern Glazer’s announced today. The deal includes all of Norton, Massachusetts-based Horizon Beverage’s Massachusetts and Rhode Island operations and beer, wine and spirits portfolio, adding two states to the largest bev-alc distributor’s footprint.
Mommenpop Update Puts a Citrus, Organic Twist on Aperitifs
For winemaker Samantha Sheehan, the spritz’s rise to one of the most popular cocktails in the U.S. has been a boost to her Napa-based aperitif brand Mommenpop.
KDP: “Healthy” Q2 Growth, Amid Coffee Declines
Keurig Dr Pepper reported single-digit net sales growth and margin expansion in its Q2 2024 earnings call amid challenges in coffee pricing and at-home consumption.
Brightfield Group Q2 Report: Functional Beverages for Women
This report, which focuses on functional beverages for women, features exclusive content created just for our BevNET Insider audience!