SunOpta: Demand For Plant-Based Products Fuels Record Growth In Q2
SunOpta reported one of its strongest quarters in company history, posting a record $145.9 million in revenue on the back of a record 31% growth in plant-based food and beverage.
Seth Goldman’s Eat the Change Raises $14.5M to Fuel Just Ice Tea Launch
Eat the Change, the healthy snack brand founded by Seth Goldman has raised $14.5 million in new funding to support its expansion into the ready-to-drink tea category. In June, Goldman announced plans to launch a new organic bottled tea line called Just Ice Tea under the Eat the Change platform after The Coca-Cola Company said it will discontinue Honest Tea.
ELIQS Closes $5.7M Seed Round, Extends Platform to Web3, Brand Incubation
Barrel Labs, the newly formed parent company of DTC customizable beverage brand ELIQS, announced on Wednesday it has closed a $5.7 million seed round that will support its expansion into three business platforms intended to help it become a “customization platform for the entire beverage industry.”
Vita Coco: Net Sales +13% in Q2; Supply Chain Challenge is ‘Commercial Focus’
Net sales of Vita Coco's coconut waters were up 21% during the quarter and have increased 19% over the first half of 2022, co-founder and executive chairman Mike Kirban said during a conference call this morning, outpacing the category (+12%).
Inflation: Consumers Turn to Bargain Hunting as Grocery Prices Rose Again in July
Despite some relief for consumers in other economic sectors, food and beverage prices continued to increase in July, up 1.2% month-over-month, according to a new inflation report by market research firm IRI.
Taste Radio: What Does It Take To Lead A Revolution? If You’re ‘Good,’ A Star And Lots Of Farms.
Heather Terry, the founder and CEO of ambitious platform brand GoodSam Foods and the co-founder of trailblazing chocolate company NibMor, spoke about why acknowledging a lack of business acumen is important for early-stage founders, why adhering to brand mission is paramount to an operational strategy and how GoodSam aligns with consumers and retailers that embrace its vision.
Haus To Shut Down, Seeks Buyer After Investor Pulls Out
Haus, a California-based maker of low-ABV aperitifs, is winding down its business and seeking a buyer after the lead investor in its Series A round dropped out during the closing process, leaving the company without the necessary cash on hand to continue operations.
As Nespresso Joins, B Corp Faces Questions About “Integrity and Relevance”
In April, Nespresso announced it was now a B Corp certified company creating a backlash among other B Corps who say the B Lab's assessment process is "in serious need of repair" and the seal is being used to "greenwash" some companies.
RISE, CoreBev Plot Shared Growth in RTD Cocktails
Spirits company The CoreBev Group has partnered with cold brew coffee brand RISE Brewing Co. for its latest canned cocktail launch, Moonlight Barista. Made with CoreBev’s Cylinder Vodka and RISE coffee, Moonlight Barista (15.5% ABV) is a nitro espresso martini available in 6.8 oz. cans.
Inflation and COVID Mean More Drinking at Home, Says IRI
At-home drinking is here to stay, according to a new report from IRI Beverage Alcohol Research. With inflation concerns and on-premise challenges, consumers are opting to indulge at home – and these conditions are impacting growth opportunities, putting a premium on innovation and affecting everything from e-commerce strategy to packaging and premiumization.
RISE to Move Forward with Trademark Lawsuit After Appeals Court Favors PepsiCo
RISE Brewing Co. believes it still has a legal path forward after an appeals court ruled in favor of PepsiCo last month in a trademark lawsuit over the name of the MTN Dew Rise Energy line, but the startup coffee brand now faces a stronger challenge.
Monster: Q2 Earnings Garners Gross Margins Miss
Monster Beverage Company reported a steep decrease in margins for Q2 2022 as the cost of materials and logistics weighed down record sales of $1.66 billion, a 13% increase from the same period last year. Yet those results were dampened by the soaring cost of sales, which jumped around 40% to $875.3 million.
Cannabis: Green Monké Lands Cookies Collab; Tilray’s Fresh Hemp Foods Partners With Southern Glazer’s
THC-infused soda brand Green Monké lands Cookies as a partner for sales and co-branded product development. Meanwhile, Canadian cannabis producer Tilray plans to launch CBD-infused beverages in the U.S. through Southern Glazer's this fall.
This Week’s New Beverages: Cold Brew Fridge Packs and Cannabis-Infused Hop Water
In this week’s roundup of new products, Minneapolis Cider Company launched a new THC beverage brand, Olipop rolled out a better-for-you iteration of Dr. Pepper and La Colombe released its first sweetened cold brew fridge pack.