Keurig Dr Pepper (KDP) is raising its annual guidance from 4% to 6% to 6% to 7% after seeing broadly positive momentum in its Q2 2021 earnings report, the company announced today. Net sales during the quarter rose 9.6% to $3.14 billion and adjusted operating income grew 8.3%.
In this week's Distribution Roundup, Richard's Rainwater expands with new formats nationwide at Whole Foods, while Republic National announces its new slate of CBD beverage partners.
Spirits and Mexican import beer giant Constellation Brands today put its official stamp of interest on the trend by investing in HOP WTR, an emerging brand of infused zero-calorie sparkling water.
Banking on increased trips out and about as COVID recedes, ultra-fresh meal, snack and beverage producer Urban Remedy is doubling down on a strategy to grow sales via its branded kiosks. It’s a move that CEO Paul Coletta says allows the company to achieve better margins, grow faster with less capital investment and puts the company on “path to profitability.”
Watch founders and CEOs introduce their brands and provide a recap of recent news and updates. This week's special co-host is Czar Daniolco, the co-founder of Hi-Touch Distribution, who will share his thoughts, questions and feedback with the participants.
Non-alcoholic beverage sales continue to slow down, but remain positive with a 3.7% increase over the two-week period ending July 17, 2021 on a year-over-year basis, according to an analysis of Nielsen data by Goldman Sachs Equity Research. Volumes continue to shift back towards the on-premise channel during this period which is inclusive of the July 4th holiday while sales climbed 16.4% on a two-year stack basis (last year’s report of the same period began July 5).
Better-for-you energy drink maker EBOOST has debuted new branding and a reformulated liquid for its ready-to-drink line. The company, which is distributed through a partnership with AriZona Beverages, will debut the revamped products in 12 oz. cans this summer and plans to follow with a 16 oz. format for convenience retailers later this year.
As the final step to complete a merger with European fresh produce company Total Produce that began in February, this week Dole Packaged Foods intends to raise $559 million from an initial public offering. The merger forms the world’s largest fresh produce provider, joining Dole’s 109,000 acres of land, 162 distribution and manufacturing facilities, 75 picking houses and 12 cold storage facilities with Total Produce’s global import and distribution network.
Office Hours returns today with a look into the state of the food service channel as a revenue and visibility outlet for food and beverage entrepreneurs. BevNET Editor in Chief Jeff Klineman was joined by Rooted Food Sales’ Matt Cotton and Clay Lichterman of Kodiak Cakes to explore the ways the Covid-19 pandemic cut into food service opportunities and the slow road back for many institutional accounts.
Having emerged this year as one of the fastest growing energy drinks in the U.S. market, CELSIUS’ momentum continues to surge, earning an “outperform” rating according to a new report by Credit Suisse. According to the report, which stems from CELSIUS’ analyst day event in Miami, Florida last week, the brand has seen “a strong rebound in demand post pandemic."
Celebrity backed spirits-based RTD The Finnish Long Drink has announced the closing of a $25 million funding round led by New York-based investment management firm Neuberger Berman.
As Foxtrot Market, one of the most hyped retailers in recent memory, prepares to open dozens of new locations, we sat down with co-founder/CEO Mike LaVitola to talk about how the company cultivates an intimate understanding of its consumers, its uniquely curated product selection and why the chain is simultaneously going head-to-head with the likes of Starbucks, 7-Eleven and DoorDash.
Food tech company NotCo announced today that it has raised $235 million in a Series D funding round led by Tiger Global, bringing its total financing to over $350 million to date. The funding will help the plant-based milk and meat producer to launch its food products in the U.S. and scale its proprietary A.I. technology platform.
North Carolina-based grocer The Fresh Market filed for an initial public offering this month for the second time in the company’s almost 40-year history. This second IPO could bring significant changes to the grocer’s position in the retail landscape, forcing them to optimize operations at the expense of local and emerging brands.
