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.
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.
Connect with beverage industry leaders in just 6 days at BevNET Live Summer 2022. Networking is an essential piece of BevNET Live - we make sure to offer plenty of opportunities throughout the day for you to initiate meaningful conversations, establish new partnerships, and catch up with industry friends.
In just one week, New Beverage Showdown 23 kicks off BevNET Live Summer 2022 in New York City, which means it’s time to reveal the pitch competition's semifinalists and judges, who will take the stage.
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.
Perfect Pour Cocktails is a new line of shelf stable ready to pour cocktails that features a patented bottle design with a dual chamber bottle that mixes the ingredients at the time of serving. The product line presently features two flavors, Margarita and Whiskey Sour.
Colorado-based Hoplark has appointed former DRY Soda president and CMO Betsy Frost as the company’s new chief commercial officer.
Strong demand for RTD products and millennial consumer buying trends helped the global beverage alcohol market to bounce back from the previous year’s losses and grow by 12% to $1.17 million, recovering from pandemic-driven value losses of -4% in 2020.
With brands, consumers and retailers all eager to see this trend continue to grow double-digits annually, the question isn’t if or when this category is going to take off – it’s how.
Specialty coffee roaster BLK & Bold is taking its first step into the ready-to-drink sector with the launch of its canned cold brew coffee line, which is rolling out to Target stores nationwide this month. Founded in 2018, the Des Moines-based brand has established itself as the first nationally distributed Black-owned coffee and tea company in the U.S., selling its whole and ground beans in over 6,000 retail stores, including Target, Albertsons, Vons, Whole Foods and Shop Rite.
After revamping the brand last year with a new look and identity built around the outdoors, Pepsi is moving its plant-based protein line EVOLVE further outdoors this summer with the launch of a mission driven marketing campaign built around sustainability.
Austin, Texas-based Kimbala is focused on creating authentic RTD chai in both concentrate and RTD formats. The brand also features several coffee based beverages.
