Seattle City Council Approves “Soda Tax”
In a 7-1 vote yesterday, the Seattle City Council approved a 1.75 cents per ounce tax on distributors of sugar-sweetened beverages (SSB) that is expected to take effect in early July.
Headlines
Analysts: A PepsiCo/Vita Coco Deal Would Reshape Coconut Category
Last week a Reuters report that PepsiCo was in talks to acquire Vita Coco maker All Market Inc. had the beverage industry buzzing over what could be yet another billion-dollar acquisition of an entrepreneurial beverage company by a strategic giant.
People Moves: Crowley Joins Soylent
KeVita's former chief strategy officer Bryan Crowley joins Soylent as president, Stumptown taps former Boombotix CEO Sean Sullivan for top positions after Ricci departure, Jacqueline Harrigan leaves marketing post at Agua Brands as the company partners with an agency.
Press Clips: Bai Creative Moves In-House, Fake RC Cola Tweet Goes Viral
Bai CMO Michael Simon discusses the company's decision to move creative in-house; Twitter bans a fake RC Cola parody account after its political tweet goes viral; Nutrition Policy Institute members call for energy drink caffeine caps; Nostalgia helps drive a Clearly Canadian revival; USA Today reports on the rise of craft soda
BevNET Podcast Ep. 60: Bob Burke on Keys to The (Natural) Kingdom; Recapping The Sweets and Snacks Expo
Over his three decades as an executive and consultant in the natural products industry, Bob Burke has been recognized as one of the foremost experts in the space. He recently joined us for a wide-ranging conversation about the evolution of the industry and its transformative impact on the grocery business, his thoughts on the keys to success for startups and how he defines truly innovative ideas.
DrinkMaple Adds New Funding, Makes Distribution Gains
Last month, the Vermont-based maple water brand announced it had received $250,000 in funding from Vermont venture capital firm FreshTracks Capital as part of a $4.35 million Series A round that was led by venture capital firm Cleveland Avenue.
Innovation Fueling 15 Most Well-Funded Startups
A list compiled by market research firm CB Insights of the 15 most well-funded venture capital-backed food and beverage startups reveals the increasing value placed on brands that are offering healthier choices and disrupting established categories like meat and dairy and innovating with plant-based offerings.
In the Courtroom: Odwalla Class Action Dropped
Consumers drop Odwalla "evaporated cane juice" class action suit, Hint asks for a stay on lawsuit challenging its "all natural" claims, Lakewood Organic Juices faces challenge to its "cold pressed" and "fresh pressed" claims in new class action suit.
Nestlé Waters NA Invests $6M in Closed Loop Fund
Nestlé joins fellow beverage companies Coca-Cola, PepsiCo, Dr Pepper Snapple Group and Keurig Green Mountain in investing in the Closed Loop Fund, a $100 million social impact investment fund that provides municipalities with access to capital for projects aimed at improving recycling programs.
True Nopal Forms Joint Venture with Suntory International
Fourteen months after cactus water brand True Nopal signed an exclusive international distribution deal with U.K.-based Lucozade Ribena Suntory Limited (LRS), the companies are tying the knot with a joint venture, True Nopal Ventures LLC. The new partnership is intended to boost True Nopal’s sales in the U.K. and Ireland.
High Brew Closes $17M Round Led by BIGR
The Austin-based company today announced the close of a $17 million funding round led by Boulder Investment Group Reprise (BIGR), a growth equity fund the partners with early-stage natural and organic products.
Reuters: PepsiCo in Talks to Acquire Vita Coco
Reuters has reported that PepsiCo is in talks to acquire All Market Inc, the maker of leading coconut water brand Vita Coco. PepsiCo is offering less than the $1 billion that All Market has sought for the acquisition, according to Reuters, which cited sources familiar with the potential deal.
BevNET Podcast Ep. 59: Margaritas, Mezcal and Money
In this episode, we sat down with Mark Mahoney, the co-founder of premium cocktail mixer brand Powell & Mahoney, who discussed his background as a beverage entrepreneur and the rapid development of the mixer space. We also examined recent investment deals in food and beverage, including a funding round for snack brand Hippeas, one that included Leonardo DiCaprio.
American Academy of Pediatrics Revises Kids Juice Recommendations
The Academy's new policy statement recommends that 100 percent fruit juice should not be provided to children younger than 1 year of age, with the exception of cases in which there is a strong clinical basis for use in the management of constipation