Consumers are searching for new forms of convenience, whether as clever packaging or new products, and prioritizing exciting and unfamiliar flavors at mealtime, according to market research firm IRI’s annual New Product Pacesetters report, released yesterday.
From actors to musicians to the world’s richest man, high profile figures have built their own category within the alcohol industry: celebrity spirits. But as celebrity-owned or endorsed brands become the norm, what makes them succeed or fail?
A new report by the Specialty Food Association shows that growth in the specialty food market has changed as the pandemic’s evolution over the last two years has brought dramatic price increases and a shift in consumer shopping and eating priorities. The category grew by 7.4% in 2021 as compared to 5.8% in 2020, reaching $175 billion in sales.
Although summer solstice is still a ways away, the season has unofficially arrived in the form of seven new ready-to-drink cocktails and mocktails. In this gallery, we highlight the first-ever canned cocktail lines from Kraken Rum and New Amsterdam Vodka and several modern twists on classic drinks from Uncle Tim’s.
Jones Soda has pulled the plug on a planned merger with Vancouver-based portfolio company Simply Better Brands Corp. (SBBC), citing “current market conditions” as the reason. SBBC previously agreed to purchase Jones Soda in April for roughly $99 million through an acquisition of all issued and outstanding Jones common stock.
The Vita Coco Company, Inc. (NASDAQ: COCO) (“Vita Coco” or the “Company”), a leading high-growth platform of better-for-you beverage brands, announced the appointment of Aishetu Fatima Dozie to the Company’s board of directors following her election at the Company’s annual meeting of stockholders held on June 1, 2022. Ms. Dozie brings more than 20 years of significant investment and executive entrepreneurial experience to the Company’s board. The other directors standing for re-election, Martin Roper and John Zupo, were also elected at the annual meeting of stockholders and will continue serving as board members.
Apparo, a plant protein ingredient company, announced a Series A investment of $3.5 million co-led by Endeavor8 and Finistere Ventures. Blue Horizon also joined the funding round.
Beam Suntory’s Laphroaig is excited to announce the much-anticipated annual release of its Laphroaig Càirdeas edition, Laphroaig Càirdeas 2022 Warehouse 1, to celebrate Friends of Laphroaig.
Sean "Diddy" Combs and the makers of CÎROC Ultra-Premium Vodka invite consumers to "experience the frequency of the LOVE Era" with the launch of CÎROC Passion. The new signature flavor is the first offering in the CÎROC portfolio that delivers more than a distinct taste; its bold design reflects an intensity and a frequency you have to experience. Together, Combs and CÎROC have now released more than 15 flavor innovations, becoming an industry and cultural leader in the vodka category.
Susosu Water launched through e-commerce and Jheen and Nadia saw positive feedback coming in from Amazon sales, along with sales from other websites like Walmart Online. Jheen and Nadia are excited to launch in retailers like Union Kitchen to get the customers first-hand feedback as they are trying the product. This helps them create a stronger connection to the consumer, teach them about the product, and share the mission of Susosu Water.
Venture capital firm PowerPlant Partners announced an investment in and partnership with holding company SYSTM Brands today to launch SYSTM Foods, a new platform focused on acquiring sustainable and socially conscious food and beverage brands. Terms of the deal were not disclosed.
Hella Cocktail Co. has raised $5 million in a Series A funding round, fully backed by premium spirits brand Uncle Nearest, the company announced today. Founded in 2012 by CEO Jomaree Pinkard, CMO Eddie Simeon, and COO Tobin Ludwing, New York-based Hella produces a variety of cocktail bitters and mixers, as well as a ready-to-drink Bitters & Soda line.
Koia is strengthening its partnership with NBA All-Star Chris Paul and apparel brand Support Black Colleges to fund historically Black colleges and universities (HBCUs) with the launch of a limited-edition version of its Cinnamon Horchata flavor protein shake.
Lux Row Distillers – the Bardstown, Kentucky, home of the Ezra Brooks, Rebel, Daviess County, David Nicholson and Blood Oath bourbon brands – has added two SKUs to its repertoire of offerings at retail. Beginning in June, the distillery’s Ezra Brooks 99 and Rebel 100 brands will be available in 1.75L bottles at a minimum suggested retail price of $44.99 and $35.99, respectively.
