Earlier this year, Bear’s Fruit raised an undisclosed sum from Simple Food Ventures, a female-led investment firm focused on better-for-you CPG products. According to Driscoll, the company was connected with the firm by an existing investor, TQ Ventures, which had previously participated in the brand’s seed round.
The list of non-alcoholic beverage producers seeking to cash in on the $4.5 billion hard seltzer segment has grown a little longer. PepsiCo filed an application with the U.S Patent and Trademark Office to trademark its Rockstar brand in the beer and “alcoholic fruit cocktail drinks; alcoholic malt beverages, except beers; hard seltzer” categories on June 14.
Many food and beverage makers often look to adjacent categories for their first brand extension. However, caffeinated bar maker Verb is making a larger leap for its first foray beyond bars: EDM, which stands for Energizing Drink Mix (not electronic dance music). The new line promises consumers a jolt of energy from caffeine, not a bass drop.
In this weeks distribution roundup: Docklight Brands signs an agreement for nationwide distribution of Marley CBD beverages, Guru Organic Energy brings its retail sales, distribution and merchandising under the wing of PepsiCo Beverages Canada, Swoon Partners With Four Regional DSD Distributors and Biotin Water Enters Publix.
Today yogurt and dairy conglomerate Danone announced it had sold plant-based nutrition company Vega to private equity firm WM Partners. Terms of the deal were not disclosed.
Agua Bonita, the maker of a line of better-for-you agua fresca drinks, claimed victory during New Beverage Showdown 21 today, taking the title as the latest champion of BevNET’s biannual pitch competition.
Vita Coco parent company All Market Inc. (AMI) is planning to go public later this year with a potential valuation of $2 billion, according to media reports. According to Bloomberg, AMI -- which owns the Vita Coco, Runa and Ever & Ever brands -- could list shares by the third quarter, however plans are not finalized and are subject to change.
California-based spirits brand Løs Sundays Tequila announced today it has closed a $3.5 million Series A funding round closed out by CircleUp Growth Partners. Founded in 2017, Løs Sundays Tequila primarily markets its line of spirits -- which includes Blanco, Reposado and Coconut tequila varieties -- to younger consumers with a focus on women.
Rise Brewing Co. is taking PepsiCo to court. The nitro cold brew coffee maker filed a lawsuit in the U.S. District Court for the Northern District of Illinois yesterday alleging that PepsiCo violated its trademark when it launched MTN Dew Rise Energy, a new energy drink which rolled out to stores this spring.
Here’s another marker that life is approaching a post-pandemic “new normal”: the reintroduction of free samples in grocery stores nationwide. To the relief of brands, who have long relied on sampling to win customers, many retailers announced plans this month to allow brands back in-store for product demonstrations.
With a trippy Southern California vibe and inspiration from mimosas, the SunDaze line of citrus ready-to-drink canned cocktails is aiming to unchain the juice occasion from brunch. SunDaze — which checks in at 6% ABV and comes in three flavors: Original Citrus, Botanical Citrus and Spicy Citrus — was founded by long-time CPG marketing consultant Arthur Gallego.
The pandemic triggered an increased demand for functional and immune-boosting products over the past year – something that founders and judges paid attention to as they vied for the top prize in BevNET’s New Beverage Showdown 21 Semifinals.
Ready-to-drink cocktail maker Ohza announced today it has closed a $4 million funding round led by CircleUp Growth Partners. The financing is expected to help the brand scale nationwide as it partners with distributors such as Southern Glazer’s Wine & Spirits and Breakthru Beverage group.
Chloe Epstein and Michael Sloan, the co-founders of better-for-you frozen novelty brand Chloe’s, explained why they shifted focus from foodservice to packaged goods, the leap from a slow and steady growth strategy to one that embraced national distribution and why Chloe’s is not shy about putting a target on the back of big CPG.
