Despite pandemic headwinds, can shortages and supply chain disruptions, Monster Energy Corp. saw net sales rise 33.6% to $1.46 billion in Q2, according to an earnings report this week. Second quarter net income rose 29.7% to $403.8 million and net income per diluted share was up 28.6% to $0.75 per share.
At 11 years in business, Colorado-based Keef Brands is already a veteran of the nascent cannabis beverage category. As the company has grown alongside the recreational marijuana industry, it’s now preparing to begin its next act as an international brand driving the growth of THC beverages through innovation and expansion.
Having long been interested in an acquisition, kefir company Lifeway Foods announced it has reached an agreement to purchase California-based GlenOaks Farms Inc. Lifeway CEO Julie Smolyansky said the move comes after the company proved its resilience in the face of the pandemic while also aligning with the strategy for Lifeway’s 2.0 growth plan. Lifeway is expected to purchase the company for $5.8 million in cash by the end of August 2021.
Dutch bottling conglomerate Refresco has reached a deal to acquire three U.S. manufacturing facilities from The Coca-Cola Company, the company announced yesterday.
In this week's People Moves: Tractor Beverage Co. announced it has repositioned key figures within its executive team, cannabis beverage maker purejuana announced the appointment of Paulo Sobral as Sales Leader, Bert Naverrete joined ZX Ventures as General Partner, Head of Growth Equity Fund and Basemakers brings Faithe Rayns on as Chief Operating Officer.
It’s time to reveal the contestants and judges for BevNET’s inaugural Cocktail Showdown, a pitch competition that will feature 10 of the most innovative and disruptive brands in the rapidly emerging category of spirit-based ready-to-drink and ready-to-pour cocktails.
The ready-to-drink category continues to expand with line extensions from brands such as Barbox and Avana and debuts into the category from distilleries including Tom’s Town and Midnight Moon. Check out the gallery for the latest tequila-infused cocktails, notable cocktailer collaborations and brand debuts.
CPG-focused investment group Sunrise Strategic announced late last week that it would bring aboard more food and beverage veterans, notably ex-ONE Brands CEO Peter Burns, to help the firm diversify its capabilities. The news comes as the firm also announced its financial partner, Trilantic North America, had invested additional capital into the group.
This week, we’re joined by Charles Coristine, president and CEO of LesserEvil, who spoke about the better-for-you snack brand’s turnaround from industry outcast to a vertically integrated platform that emphasizes gross margin and innovation. Within our conversation, he explained why he leans on retail buyers to guide product development and why he’s a proponent of “failing fast and falling forward.”
PepsiCo has taken a major step back from the juice business through the sale of Tropicana, Naked and its other juice brands in North America, the company announced this morning.
Organic flavored sparkling water brand Nixie has introduced a new Strawberry Hibiscus flavor this week to “perfectly encapsulate those last two weeks in July,” said Nixie Water Founder and CEO Nicole Bernard Dawes.
As we continue to wade through the summer, beverage brands released a variety of new functional products with everything from ready-to-drink beverages supporting immune health and hydration to line extensions from CBD-brands such as Unity Wellness and Rhythm. Check out the gallery for the latest limited-releases, reformulations, brand debuts and more.
Launched this month by two former dairy industry executives, Yoi is taking a gut-health approach to plant-based milk through a slow-cultured combination of nut and seed milk. The inspiration behind the brand’s culturing techniques are also tied to its name; meaning ‘good’ in Japanese, Yoi made its debut at local San Francisco farmers markets and is now on the shelf at 20 independent grocers in the Bay Area.
Molson Coors Beverage Company CEO Gavin Hattersley stressed that the “outcomes” of the company’s 2-year-old revitalization plan are beginning to materialize. Those outcomes became frequent talking points during the company’s second quarter 2021 earnings report.
