New Chapter in Tru Story Takes Functional Brand into Cans
Having secured a critical round of funding to keep the company afloat earlier this year, Tru is turning its focus back towards positive growth with a pivot in both product and strategy.
Headlines
Zevia Closes $200M Financing, Plans Global Expansion
Zevia, a maker of stevia-sweetened zero calorie beverages, announced today it has closed a $200 million minority investment by Canadian firm Caisse de dépôt et placement du Québec (CDPQ). According to Zevia CEO and chairman Paddy Spence, the new financing will support a global expansion strategy in the coming year.
Sprouts and L.A. Libations Partner to Pilot New Beverage Brands
Sprouts Farmers Market has aligned with L.A. Libations to test emerging, better-for-you brands in California as part of an ongoing partnership that will feature products in the beverage incubator’s SoCal Incubation Program (SIP), the retailer announced this week.
Búho Aims for Better-For-You Mexican Soda With Prebiotic Pivot
Driven by consumer trends and tightening restrictions around product labeling in Meixco, soda brand Buho has taken on a complete line reformulation of its eight flavors which takes it into the realm of functionality with the addition of plant-based prebiotic fibers.
Survey: Distributors Doubtful Over Next Moves for Bang, Monster
Alcohol distributors are dubious regarding Bang Energy’s ability to rebound from its messy, still-unfurling divorce with PepsiCo, according to a survey by Goldman Sachs Equity Research.
Taste Radio Insider Ep. 107: Why Successful Innovation Begins With The Consumer
In this episode, we’re joined by Francesco Amodeo, the president and co-founder of Don Ciccio & Figli, an acclaimed distiller of handcrafted Italian herbal liqueurs and ready-to-drink cocktails based in Washington, D.C. Within our expansive interview, Amodeo explained why obsession has been key to the company’s success and how brands can adopt a modern approach to a legacy category.
People Moves: Giannuzzi Group Renamed Giannuzzi Lewendon
Giannuzzi Group, LLP, a New York-based law firm focused on the food and beverage industry, has renamed itself Giannuzzi Lewendon, LLP effective January 1 reflecting founding partner Ryan Lewendon; also Mad Tasty Names Kyle Simon as Director of Supply Chain and Operations and The Coca-Cola Company to Cut 2,200 Jobs.
BevNET Announces Best of 2020 Award Winners
BevNET honors the companies, brands, individuals, products, ideas and trends that shaped the beverage landscape during a year of unprecedented challenges and disruption.
Pepsi Positions MTN DEW Game Fuel for D2C With New Digital Platform
Beyond its appeal to gamers, though, the launch of a dedicated direct-to-consumer digital platform for MTN DEW Game Fuel may also represent a potential testing of the waters for Pepsi’s future endeavors in e-commerce.
Sweetwater Owner Aphria to Merge with Tilray, Create World’s Largest Cannabis Company
Just two weeks after closing on the acquisition of Atlanta’s Sweetwater Brewing Company, Canadian cannabis company Aphria has reached an agreement to merge with Tilray, forming the world’s largest cannabis company valued at $3.8 billion.
Distribution Roundup: Don’t Quit! to Board KDP Trucks in Early 2021
Don’t Quit!, the meal replacement shake brand developed by Keurig Dr Pepper (KDP), L.A. Libations and fitness lifestyle company Body by Jake, is primed to roll out on KDP trucks early next year in a test run of its Max Protein line; also Circle Launches Direct-to-Consumer Online Store; KÖE Kombucha Expands in SoCal 7-Eleven Stores; Toutalou Partners with Urban Outfitters
Spirits Gallery: Ready-for-Winter RTDs
In the spirit of starting next year off with a touch of optimism, in this gallery we raise our glasses in acknowledgement of the latest ready-to-drink releases from the likes of Dry Fly, 503 Distilling, Cutwater Spirits, 'Merican Mule, Troop and Mayne & Co., along with newly launched Blue Blazer.
National Beverage Corp: Net Sales Rise in Second Quarter
National Beverage Corp., the maker of LaCroix, reported today that net sales increased 8% to $272 million in the second quarter of fiscal year 2021. Gross margin was $108 million in the quarter, which ended October 31, up 16.4% year-over-year. Operating profit increased to 22.7% of sales, up from 16.6% last year while net income grew 44% to $47.2 million, or $1.01 per share.
Spirits Feature: Craft Spirit Brands Embrace DTC Approach, Despite 2020’s Challenges
With double digit increases in DTC sales both before and during the pandemic — the latter predicting continued growth for the foreseeable future — it’s easy to see why so many craft spirits companies have embraced the model as a major revenue source.