Diageo CEO Ivan Menezes, who led the world’s biggest spirits company for a decade, died at the age of 63 after a brief illness, the company announced on Wednesday. Debra Crew has been named interim CEO, effective immediately.
Spirits group Brown-Forman reported 8% organic growth in its fiscal 2023 year, fueled by its major whiskey brands Jack Daniel’s Tennessee Whiskey and Woodford Reserve, as well as the launch of Jack & Coke ready-to-drink cocktail, the company reported in its Q4 earnings presentation today.
As it prepares to transition its portfolio to Regenerative Organic Certified, an effort that kicks off with the announcement of its flagship almond milk earning the seal, longtime plant-based player New Barn Organics is set to put its business model to the test.
Seeking a leader that can help the company to scale and expand, cold-pressed juice bar chain and functional wellness brand Pressed Juicery has named Eureka! Restaurant Group co-founder Justin Nedelman as its new CEO.
Farrah and Yassin Sibai, the co-founders of Mediterranean-inspired frozen food brand Afia, explained why they have long relied on self-manufacturing, the importance of emphasizing both brand and product awareness, the effectiveness of Instacart ads and instant redeemable coupons and how “the validity of the vision” propelled Afia’s Series A funding round.
As the former chief creative officer for Bai and Crook & Marker, marketing creative Chad Portas has had a longstanding working relationship with entrepreneur Ben Weiss, who founded both brands. Now, the duo are partnering once again to launch Substratum, a New Jersey-based advertising agency and venture capital platform.
Vita Coco is shaking up summer in the Hamptons by offering beachgoers craft coconut water cocktails at several favorite hot spots including The Surf Lodge, Gurney’s Montauk Resort & Seawater Spa, Southampton Social Club and TT’s Montauk.
E. & J. Gallo is continuing its acquisition streak with Bev, a Los Angeles-based canned wine and spritz brand. The transaction comes two years after the spirits and wine group secured exclusive U.S. distribution rights to Bev’s portfolio.
Stoli has announced Miguel Cedeño-Cruz as its new master distiller for ultra-premium tequila, Cenote Tequila, where he will be responsible for overseeing the production processes, quality control and strategic development of the brand.
What parallels exist between music, food and beverage and how can they inform entrepreneurs about innovation strategies? The hosts look to legendary music producer Rick Rubin for answers. We also discuss trends from behind the bar with the 2023 USBG World Class bartender of the year Renato Tonelli and Julie Reiner, the owner of world renowned NYC cocktail restaurants The Clover Club and Leyenda.
In this week’s new products roundup, Heywell collaborates with convenience store chain Foxtrot to create a new Cherry Limeade flavor, GNC drops its first hydration and performance product and Swoon and Splenda get into the summer spirit with new iced tea launches.
After a $5.6 million investment on Wednesday, Reed’s leadership expressed optimism during its Q1 earnings call that it will achieve cash flow positive by the end of year reporting cost cutting measures have improved margins.
Functional non-alc spirit Aplós closed a $5.5 million Series A as it aims to expand its retail presence while maintaining its sophisticated appeal in high-end cocktail bars and fine dining restaurants.
Health and wellness-focused CPG investment firm Selva Ventures announced this week it has closed a $34 million raise for its second fund, which included backing from Unilever Ventures, PagsGroup and Obelysk as well as existing investors.
