As part of our Supercharge virtual events series, BevNET and NOSH are going inside the hype to try to help brands understand the methodologies of scale and growth, particularly in the evolving omnichannel environment. On September 9th we’ll explore the costs of growth -- both from a cash and staffing standpoint, as well as ways that brands can know they’re ready to begin investing in that growth.
Super Coffee has closed a $106 million Series C fundraising round, the company confirmed today. The round was led by Maryland-based venture group Durable Capital Partners and included participation by beverage industry veteran Clayton Christopher and former Peet’s Coffee CEO Dave Burwick, as well as another tranche from Anheuser-Busch InBev (AB InBev).
A federal judge in Florida ruled this week that Monster Energy Corp. did not violate the trade dress of Bang Energy when it launched performance energy brand Reign Total Body Fuel in 2019, putting a cap on one branch of the ongoing legal feud between Monster and Bang manufacturer Vital Pharmaceuticals (VPX).
In this week's distribution roundup: Pure Green onboards with GoPuff, Organifi makes its retail debut, Notco expands distribution in natural and conventional grocery and Southern Glazer’s adds more CBD with Mad Tasty.
Despite pandemic headwinds, can shortages and supply chain disruptions, Monster Energy Corp. saw net sales rise 33.6% to $1.46 billion in Q2, according to an earnings report this week. Second quarter net income rose 29.7% to $403.8 million and net income per diluted share was up 28.6% to $0.75 per share.
At 11 years in business, Colorado-based Keef Brands is already a veteran of the nascent cannabis beverage category. As the company has grown alongside the recreational marijuana industry, it’s now preparing to begin its next act as an international brand driving the growth of THC beverages through innovation and expansion.
Having long been interested in an acquisition, kefir company Lifeway Foods announced it has reached an agreement to purchase California-based GlenOaks Farms Inc. Lifeway CEO Julie Smolyansky said the move comes after the company proved its resilience in the face of the pandemic while also aligning with the strategy for Lifeway’s 2.0 growth plan. Lifeway is expected to purchase the company for $5.8 million in cash by the end of August 2021.
Dutch bottling conglomerate Refresco has reached a deal to acquire three U.S. manufacturing facilities from The Coca-Cola Company, the company announced yesterday.
In this week's People Moves: Tractor Beverage Co. announced it has repositioned key figures within its executive team, cannabis beverage maker purejuana announced the appointment of Paulo Sobral as Sales Leader, Bert Naverrete joined ZX Ventures as General Partner, Head of Growth Equity Fund and Basemakers brings Faithe Rayns on as Chief Operating Officer.
It’s time to reveal the contestants and judges for BevNET’s inaugural Cocktail Showdown, a pitch competition that will feature 10 of the most innovative and disruptive brands in the rapidly emerging category of spirit-based ready-to-drink and ready-to-pour cocktails.
The ready-to-drink category continues to expand with line extensions from brands such as Barbox and Avana and debuts into the category from distilleries including Tom’s Town and Midnight Moon. Check out the gallery for the latest tequila-infused cocktails, notable cocktailer collaborations and brand debuts.
CPG-focused investment group Sunrise Strategic announced late last week that it would bring aboard more food and beverage veterans, notably ex-ONE Brands CEO Peter Burns, to help the firm diversify its capabilities. The news comes as the firm also announced its financial partner, Trilantic North America, had invested additional capital into the group.
This week, we’re joined by Charles Coristine, president and CEO of LesserEvil, who spoke about the better-for-you snack brand’s turnaround from industry outcast to a vertically integrated platform that emphasizes gross margin and innovation. Within our conversation, he explained why he leans on retail buyers to guide product development and why he’s a proponent of “failing fast and falling forward.”
PepsiCo has taken a major step back from the juice business through the sale of Tropicana, Naked and its other juice brands in North America, the company announced this morning.
