Rethink Closes $6.7 Million Round Led by AccelFoods
Venture capital fund AccelFoods has re-upped on its initial investment in carton water company Rethink Brands, leading a $6.7 million round announced in a press release Monday.
Headlines
ACG Closes $350M Fund to Invest in ‘Rising Star’ Brands
Private equity firm Alliance Consumer Growth, which includes beverage maker Suja in its portfolio of investments, announced this week the close of its fourth fund at $350 million.
In the Courtroom: Monster Settles Class Action, Canada Dry Named in Suit
Monster Settles Class Action Over ‘Natural’ Claims; Canada Dry Targeted in Class Action Suit Over "Made from Real Ginger" Slogan
Distribution Roundup: Role Tea Adds Wegmans and Hy-Vee
Role Tea drastically expanded its distribution earlier this month, True Nopal Expands Distribution in Texas, Sunshine Beverages Grows in the Carolinas and Petal Launches on Amazon.
Hint Opens First Retail Store in San Francisco
The flavored water maker announced the grand opening of its first brick-and-mortar retail store this week, located at 2124 Union Street in the Cow Hollow/Marina district of San Francisco across from the company’s HQ.
Wells Fargo C-Store Survey: Non-Alc Beverages Up 4.2 Percent In Q2
Convenience stores enjoyed a robust 4.2 percent estimated increase in non-alcoholic beverage sales in Q2, according to a survey of approximately 25,000 c-store retailers conducted by Wells Fargo Securities.
People Moves: Peet’s, Dunkin’ Brands Name New CEOs
Shakeups at three major coffee players: Peet's announces former Wrigley president as CEO; Dunkin' Brands promotes Hoffman to chief executive position; Starbucks CFO announces retirement.
Taste Radio Ep. 120: Banza Co-Founder Rudolph: “Be Polite, But Be Relentless”
Banza co-founder/CEO Brian Rudolph on why mentors, cold calling were key to his fast-growing brand. Measuring the impact of influencers and unconventional marketing strategy with MatchaBar co-founder/CEO Graham Fortgang. Meet the founders of Simply Soupreme, Jackie Greene & Taylor Rossi, who were victorious in BevNET Live’s New Beverage Showdown 15.
MatchaBar Closes Celebrity Backed $8 Million Funding Round
The New York-based matcha brand announced today the completion of an $8 million Series A round led by a slate of celebrity investors including DJ/producer Diplo (born Thomas Wesley Pentz), Denver Broncos linebacker Von Miller, actor Ansel Elgort and singer Billie Eilish.
Fountain Service Moves Forward
The types of beverages being offered in fountain service is changing, and helping shift the way users interact with and think about their selections at the point-of-sale.
People Moves: Essentia Adds to Creative Team
Premium water brand Essentia expands its in-house creative team through a pair of new hires, while BOS Brands brings on a new U.S. managing director ahead of a national launch.
IFT18 Set to Feature 1,200 Exhibitors
Over 23,000 CPG manufacturers, marketers and formulators will gather next week at McCormick Place in Chicago for IFT18, the annual show for the Institute of Food Technologists (IFT).
Rampolla Departs Beanfields as Califia Exec Steps Up
Snack brand Beanfields announced today that Mark Rampolla, founder of coconut water brand Zico, has left his role as CEO of the company and former Califia Farms executive Arnulfo Ventura has stepped into the role.
BevNET Live 2018 Video: Navigating Negotiations with Nick Giannuzzi
During his presentation at BevNET Live Summer 2018 in June, Nick Giannuzzi, managing partner at The Giannuzzi Group, highlighted the need for brands to thoroughly prepare ahead of a potential exit or investment, even from an early stage.