The J.M. Smucker Company continued to cull its CPG brand portfolio today with the announcement of an agreement to sell its natural and organic beverage and grains business to venture group Nexus Capital Management in a cash deal valued at around $110 million.
Direct-to-consumer wellness brand Athletic Greens announced this week it has named Kat Cole as president and Chief Operating Officer. Cole, who most recently held the same position at Focus Brands, will also join the company’s board of directors.
Drinkworks, the at-home cocktail company launched as a joint venture between Anheuser-Busch InBev (A-B) and Keurig Dr Pepper, will go dry, the companies announced Wednesday.
All channel non-alcoholic beverage sales saw “robust” growth across categories in the period ending December 4, according to an analysis of NelsenIQ data by Goldman Sachs Equity Research. Beverage dollar sales were up 16.1% in the two-week period, compared to 13.8% in the four-weeks. On a two-year stack basis, total dollar sales rose 23.4%.
Canadian cannabis producer Tilray continued to expand its beverage interests with the acquisition of Colorado-based Breckenridge Distillery last week.
Where function had previously been paramount, the proliferation of the functional mushroom category — rising to $7.98 billion in 2020, according to Allied Market Research — means Four Sigmatic is making a slight pivot in messaging with its latest release.
Green Circle Capital Partners announced today it has raised $13 million for its first fund in a new venture capital division, Green Circle Foodtech Ventures (GCFV), with an anchor investment from Hormel Foods’ VC arm 199 Ventures. The new investment vehicle will target early stage, innovative foodtech companies working across a number of spaces, including food safety, sustainable packaging, sugar reduction, food waste and supply chain efficiency.
Over recent months, Mineragua has been rolling out its revamped packaging and refreshed identity, led by the tagline “Life With Sparkle,” which aims to position the brand as a bigger player in the $29.7 billion U.S. sparkling water market.
Maxine Kozler Koven, co-founder of LDR Ventures & Consulting, discussed the venture capital firm’s investment philosophy and portfolio, which includes stakes in Sweetgreen, Thrive Market and Shaka Tea, the importance of nurturing the development of early-stage founders, the relevance of innovation when evaluating new concepts and the historical lack of funding for female-led companies.
TikTok is becoming one of the fastest-growing social commerce channels worldwide and is helping brands reach hundreds, even thousands, of new consumers via videos of skin care or vegan ice cream - if they can market themselves right.
Israeli food tech startup Better Juice is finally preparing to bring its first reduced sugar juices to U.S. consumers. The Rehovot-based company announced today that it has signed its first commercial partnership with an unnamed U.S.-based juice manufacturer to begin producing beverages using its patented sugar-reduction technology in the coming weeks.
Pepsi Mic Drop, a zero-fee collection of NFTs designed in partnership with VaynerNFT, “pay homage to the brand’s storied history in music and the suite of Pepsi flavors that have captivated unapologetic cola-loving consumers for decades.”
Since launching in 2018, the Stratus Group-owned brand – now stylized as Koe – has targeted mainstream channels (including convenience, drug and grocery) with its canned, on-the-go approach to the kombucha category. The drinks are currently available in about 45,000 retail stores nationwide and expects to add about 15,000 additional doors during 2022 spring category resets when the rebranded products will enter the market.
Ugly Drinks CEO Hugh Thomas announced today he is stepping down from his role at the sparkling water startup at the end of this week, citing a desire to “take a break and a deep breath before figuring out what is next.”
