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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%).
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.
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, 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.
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.
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.
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 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 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.
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.
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.
Dairy Farmers of America (DFA) is the target of a class action antitrust lawsuit filed last week, alleging the largest national dairy cooperative has acted or has tried to act as a monopsony by constraining the Northeast raw milk market.
Monster Beverage Company confirmed its long-rumored entrance into beverage alcohol during its Q2 2022 earnings call on Thursday, announcing that Monster Beast Unleashed, a four-SKU line of flavored malt beverages (6% ABV), will launch in late Q4 2022 with the goal of being nationally distributed by the end of 2023.
Ball Corp. plans to permanently close can manufacturing facilities in Phoenix, Arizona, and St. Paul, Minnesota, and delay construction of a new plant in North Las Vegas, Nevada, the Westminster, Colorado-headquartered company announced today during its second quarter financial results.