Headlines

Kite Flies to Victory in New Beverage Showdown 20

Sparkling botanical drink maker Kite rode a cool breeze to victory during New Beverage Showdown 20 today, taking the title of champion in the second virtual edition of BevNET’s biannual pitch competition, which was sponsored by The Coca-Cola Company’s Venturing and Emerging Brands unit (VEB).

Táche Launches Pistachio Milk Line

Almond and oat milk have been two of the key innovations driving the growth of plant-based milks in the U.S. But as consumers get comfortable with their dairy alternative of choice, is there room for one more? Roxana Saidi, CEO of pistachio milk maker Táche, believes that her brand is poised to beat sizable competitors on flavor.

PepsiCo Revamps 2-Liter Bottles, Launches Apple Pie Seasonal Flavor

PepsiCo debuted this week a redesign package for its 2-liter bottles across its core CSD portfolio, the first update to the format in nearly 30 years. The new bottle design, which will be rolled out across the Pepsi, MTN Dew, Crush, Mug Root Beer and Sierra Mist brands, among others, is intended to be easier to grip and pour for consumers.

Bang Moves to Terminate PepsiCo Distribution Agreement

Less than a year after entering an exclusive distribution agreement with PepsiCo that was touted as a blockbuster deal at the time, Bang Energy announced today it has terminated the relationship. According to a press release, Bang gave PepsiCo notice of termination on October 23, citing “multiple issues and concerns regarding PepsiCo’s performance since the parties’ distribution partnership began.”

Hamdallah Heads to Clif as First CIO

Hamdallah joins the company after serving as global chief innovation officer at Ocean Spray Cranberries, where he led R&D and the company’s incubation program, The Lighthouse.

Rockaway Pitches Botanical-Infused Sparkling Water to the Mainstream

Looking to provide a “gritty” and “accessible” take on botanical-infused sparkling water, New York-based startup Rockaway -- which launched online in September -- is seeking to marry on-trend health and wellness ingredients with a kickback-and-relax aesthetic to offer a differentiated take on the category.

Better Booch Targets Rapid Growth with Multichannel Strategy

Setting its sights on becoming one of the top kombucha brands in the U.S., Better Booch is targeting new growth channels including food service and ecommerce as it continues its nationwide expansion. The brand has placed an increased focus on health-based fast casual restaurant chains, with the brand entering By Chloe and Veggie Grill stores this fall.

Kate Farms Raises $51M in Series B Round

Medical grade meal replacement producer Kate Farms announced today it has closed a $51 million Series B funding round led by Goldman Sachs and Kaiser Permanente Ventures. The round marks the second set of financing raised by Kate Farms this year, following a $23 million Series A-1 round which was closed in April. This new round brings the company’s total fundraising to $99 million.

Celsius: Record Q3 Pushes Company Closer To $100M Milestone

Fitness energy drink Celsius is nearing the $100 million mark in annual revenue for 2020 after the company reported $36.8 million in revenue during the third quarter, a new company record and an 80% rise from the same period last year.

Nielsen: Strong Beverage Sales Suggest Steady At-Home Consumption

In a sign that the at-home consumption trend appears as strong as ever, non-alcoholic beverage sales were up 12.2% year-over-year in the two-week period ending October 31, and up 12.7% in the four-week period, according to an analysis of Nielsen data by Goldman Sachs.

So Good So You Lands $14.5M To Grow Probiotic Shots Line

Probiotic juice shot maker So Good So You is getting a boost of its own with today’s announcement that the Minneapolis, Minnesota-based company has closed a $14.5 million funding round led by Prelude Growth Partners.