Yogurt and beverage producer Chobani announced today that it has filed a registration statement with the Securities and Exchange Commission (SEC) for a potential Initial Public Offering (IPO). The company did not detail a proposed valuation, a potential stock price or a timeline for an IPO. The valuation could be in excess of $10 billion, according to a Reuters report.
The Arizona-based company, which produces a line of 8.8 pH alkaline waters and CBD-infused products, posted a compounded annual growth rate of 52% since fiscal year 2015, with gross profit of about $16.4 million (up 25% from fiscal year 2020) and a cost of goods sold equal to $29.6 million (up 17% year-over-year).
Sports performance drink maker X2 has announced the close of a $15 million round of Series D financing led by L Catterton and highlighted by participation from NFL running back Saquon Barkley.
In the war on sugar, soda has been public enemy number one for years. Now, New York-based startup United Sodas of America is looking to clean up the category’s image with a brand-driven, better-for-you line of low calorie soft drinks. After posting 10x growth online in its first year, the brand is currently expanding into retail with an ambitious 12 SKU lineup.
This special edition of the podcast features highlights from interviews with six founders, creators and innovators who joined us on the show during the first half of 2021. Our guests include Denise Woodard of Partake Foods; Mike Fata of Manitoba Harvest, Lezlie Karls Saltarelli, Nick Saltarelli and Jake Karls of Mid-Day Squares, Bill Moses of Flying Embers; Ayeshah Abuelhiga of Mason Dixie Foods and Seth Goldman of Honest Tea, Eat The Change and Beyond Meat.
Kids lemonade maker Poppilu’s distribution is popping off as the brand grows its footprint to roughly 2,500 stores nationwide; Launched into Rocky Mountain Whole Foods stores in March, Rowdy Mermaid announced that it has expanded its mushroom-based Adaptonic line into four additional Whole Foods divisions.
Danone Manifesto Ventures (DMV) announced this week that it has acquired a majority ownership stake in coconut products maker Harmless Harvest. Speaking to BevNET, DMV CEO Laurent Marcel and Harmless Harvest CEO Ben Mand said the deal is primed to help the premium beverage and plant-based food maker to expand its presence in the global market.
California-based CBD company Kadenwood announced this week it has raised $50 million in funding, with $20 million allocated to an upcoming national media campaign to drive consumer awareness for its portfolio of CBD brands, including the recently acquired Healist Advanced Naturals and Social CBD.
Aiming to broaden its appeal with mainstream consumers, the Virginia-based energy drink company announced this week that it will relaunch with new packaging and flavors this weekend, with direct-to-consumer online sales beginning, appropriately, on Independence Day.
New Jersey hemp-infused seltzer brand Kaló announced today that its products are available in 10 states via 12 tier-one distributor partnerships.
Danone Manifesto Ventures (DMV) announced today that it has acquired a majority stake in premium coconut products maker Harmless Harvest. Terms of the deal were not disclosed. Harmless Harvest is the first U.S. investment to become majority-owned by DMV, the venture arm of French multinational corporation Danone, the company said in a press release.
June saw plenty of innovation in the functional beverage category with many notable releases in the cannabis and hemp infused beverage space from brands such as Fable, Aurora Elixirs, VYBES and more. Check out this month’s gallery for the latest hemp cocktails, probiotic drinks, immunity-boosting beverages and brand debuts.
After declaring bankruptcy last year, Wisconsin-based NessAlla Kombucha has been acquired and revamped by newly formed Upside Beverage Co.
Amid a wave of food and beverage companies going public, Vita Coco parent All Market Inc. is the latest to receive buzz about a potential IPO. Earlier this month, Bloomberg reported that the company is potentially planning to list shares as early as the third quarter with a potential valuation of more than $2 billion.
