Beverage maker Keurig Dr Pepper (KDP) announced a management transition plan that will see CFO Ozan Dokmecioglu take over as CEO from Bob Gamgort, who is set to move into the role of Executive Chairman for two years. The change will become effective July 29, 2022.
Reed’s, Inc. reported double digit growth in its full year 2021 earnings report last week, with net revenue up 19% to $49.6 million. However, the ginger beer producer faced steep operating losses as supply chain disruptions drove up costs. Gross profit for the year rose 7% to $13.6 million, with a gross margin of 27.4% compared to 30.7% the year before.
Coffee wholesaler Westrock announced today it is merging with Riverview Acquisition, a special purpose acquisition company (SPAC), to go public in a transaction that values the combined company at just over $1 billion.
With warmer weather and sunny days just around the corner, many beverage brands are rolling out summer-inspired drinks. This week’s shower of new products includes the launch of Mortal’s Basillion Strawberries, the release of Berry Lemonade Health-Ade Kombucha, and a makeover for San Pellegrino both inside and outside the can.
Earlier this month a jury in Colorado handed CBD and adaptogenic beverage maker DRAM Apothecary a partial victory in a lawsuit it had brought against its former manufacturing partner, Rocky Mountain Soda.
Delivery service Gopuff has fired hundreds of employees as it aims to cut costs, the company confirmed on Thursday. Former employees claimed the number was more than 1,000.
Refrigerated plant-based beverage brand Koia’s cap table continues to grow with today’s announcement that Grammy-winner The Weeknd, comedian Kevin Hart and a wide ranging group of athletes and entertainment figures have made an investment. The new funding will go towards supporting product innovation and retail expansion.
In this Distribution Roundup, shot makers GNGR Labs and B Great announce new retail gains, Shaka Tea enters Whole Foods Market stores nationwide and Alkaline Water Co. reports growth in the military channel. Plus, Gopuff delivers Chamberlain Coffee drinks to your door.
Describing itself as a group of “beverage experts entering the cannabis space as compared to cannabis experts entering the beverage space,” The Drinkable Company is aimed at leveraging its collective experience in beverages to break through the burgeoning $426 million dollar THC drinks market.
E-commerce beverage-alcohol platform Provi has filed a complaint against Southern Glazer’s Wine and Spirits and Republic National Distributing Company (RNDC) – the country’s two largest wine and spirits distributors – alleging that the companies have unlawfully stifled the growth of its platform.
In this whiskey gallery, we highlight a smattering of notable new releases for this spring, including a celebratory expression to mark the centenary of James Joyce’s Ulysses, the launch of GrandTen Distilling’s “South Boston Godfather” and a 7-year-old Irish single malt aged in rare Japanese Mizunara casks by Glendalough.
This week, we explored the ideation, business plans and growth strategies of three innovative and on-trend brands in conversations with Susan Buckwalter, the co-founder and CEO of ginger-powered wellness brand Recoup; Dr. Juan Salinas, the founder and CEO of P-nuff Crunch, a brand of nutritious baked peanut puffs; and Michelle Razavi and Nikki Elliott, the co-founders of functional, decadent snack brand ELAVI.
NFL quarterback Russell Wilson and digital media guru AJ Vaynerchuk have teamed to enter the RTD beverage market with the launch of Local Weather, a NFT-powered, nootropic-boosted hydration drink brand aimed at Gen Z consumers.
Talking Rain Inc., the parent company of flavored sparkling water brand Sparkling Ice, announced on Friday the departure of CEO Chris Hall, effective April 1.
