Less than a year after entering an exclusive distribution agreement with PepsiCo that was touted as a blockbuster deal at the time, Bang Energy announced today it has terminated the relationship. According to a press release, Bang gave PepsiCo notice of termination on October 23, citing “multiple issues and concerns regarding PepsiCo’s performance since the parties’ distribution partnership began.”
Hamdallah joins the company after serving as global chief innovation officer at Ocean Spray Cranberries, where he led R&D and the company’s incubation program, The Lighthouse.
Looking to provide a “gritty” and “accessible” take on botanical-infused sparkling water, New York-based startup Rockaway -- which launched online in September -- is seeking to marry on-trend health and wellness ingredients with a kickback-and-relax aesthetic to offer a differentiated take on the category.
Betera is a line of zero-proof sparkling botanical cocktails that are packaged in 12 ounce glass bottles. The line features three flavors: Elderflower-Lime, Rhubarb-Hibiscus and Ginger-Orange.
Setting its sights on becoming one of the top kombucha brands in the U.S., Better Booch is targeting new growth channels including food service and ecommerce as it continues its nationwide expansion. The brand has placed an increased focus on health-based fast casual restaurant chains, with the brand entering By Chloe and Veggie Grill stores this fall.
Medical grade meal replacement producer Kate Farms announced today it has closed a $51 million Series B funding round led by Goldman Sachs and Kaiser Permanente Ventures. The round marks the second set of financing raised by Kate Farms this year, following a $23 million Series A-1 round which was closed in April. This new round brings the company’s total fundraising to $99 million.
Fitness energy drink Celsius is nearing the $100 million mark in annual revenue for 2020 after the company reported $36.8 million in revenue during the third quarter, a new company record and an 80% rise from the same period last year.
In a sign that the at-home consumption trend appears as strong as ever, non-alcoholic beverage sales were up 12.2% year-over-year in the two-week period ending October 31, and up 12.7% in the four-week period, according to an analysis of Nielsen data by Goldman Sachs.
Probiotic juice shot maker So Good So You is getting a boost of its own with today’s announcement that the Minneapolis, Minnesota-based company has closed a $14.5 million funding round led by Prelude Growth Partners.
After taking a deep dive into the category dynamics and trends on the Expert Analysis portion of the show, the focus for this month’s episode of Category Close-Up: Plant-Based Milks & Creamers shifts to the brands that are driving the action on-shelf in retailers nationwide on Product Showcase.
BevNET Live Winter 2020 will feature Designer Speed Dating on Tuesday, December 8. For this round, brands have the opportunity to meet one-on-one with CPG designers. Speed Dating provides a virtual platform for brands to receive feedback on their packaging and create partnerships to do business.
Tiger Seed is a line of USDA Certified Organic beverages that feature non-carbonated formulations and are sweetened with agave. The line has three flavors, including Gingerade, Turmeric Tea and Matcha Mint.
Ginger beer maker Reed’s reported 21% increase in net sales to $10.6 million in the third quarter, according to the company’s latest earnings report, setting the company on track to project 19% growth for the year.
With its third line launch of the year -- a set of low-sugar fruit smoothies which are rolling out at retail now -- plant-based beverage maker Koia is seeking to grow its presence in the cold case. The Koia Smoothie line is available in four flavors: Magic Mango, Rise & Shine, Straw-nana Dream and Tropical Passion.
