Celsius: Revenue Up 95% in Q1
Celsius reported over $28 million in revenue during the first quarter, a 95% increase over the same period last year and a new quarterly record for the brand.
Reed’s: Zero Sugar, Ginger Ale Drive 13% Q1 Growth
After production issues hobbled growth last year, Reed’s Inc. reported in an earnings call yesterday that it has rebounded with 13% net sales growth to $9.5 million in Q1. Speaking with investors yesterday, Reed’s CEO Norman Snyder said the company’s volume growth was driven by distribution expansion and higher velocities.
Watch Office Hours: Strategy, Pivots, and Planning during the Pandemic
This week's Office Hours features industry veterans Alan Murray and Brad Barnhorn, who, drawing upon years of experience working with brands as board members and operators, offer advice on forecast planning, organizational strategy and leadership during the pandemic.
Taste Radio Ep. 213: How This Brand Thrived In A Business Often Marked By Failure
Carl Goyette, CEO of pioneering organic energy drink brand GURU, spoke about how a disciplined business strategy has paved the way for sustainable growth, why the company “says no to a lot” of opportunities, and why he believes that having both experience in a corporate environment and a thirst for entrepreneurship have been key to his ability to manage and build the brand.
New Age: Net Revenue Up in Q1, As Core Brands Seek Buyer
New Age Beverage reported its best-ever Q1 revenue numbers over the last three months, despite headwinds from the global COVID-19 pandemic. In an earnings summary released today, the Denver, Colo.-based company reported net revenue increased 9.2% during the quarter, reaching $63.7 million versus $58.3 million in the prior year.
Spirits Feature: 7 Tips for Securing VC Funding
Times may be uncertain, but that doesn’t stop entrepreneurs from hustling. Kristin Bareuther, managing director of First Beverage Ventures, and Jeff Hopmayer, managing partner of Nashville-based wine and spirits investment consultancy Brindiamo Group, shared their tips to navigating the current market.
Jones Soda Lays Off Sales Team, Citing COVID-19 Impact
Jones Soda Co. last month laid off nine employees and furloughed four others, including almost the entirety of its sales team, the company reported in its Q1 2020 earnings call on Thursday. Speaking to investors, interim CEO Jamie Colbourne said the layoffs were a result of financial constraints caused by the COVID-19 pandemic, but offered no further details.
WATCH: U.S. Hemp Roundtable’s Jonathan Miller Talks Progress on CBD in Food and Beverage
In this interview, BevNET managing editor Martin Caballero speaks with Jonathan Miller, general counsel for the U.S. Hemp Roundtable, to get an update on the group’s efforts to open a path for CBD to be recognized as a legal food and beverage additive by the Food and Drug Administration (FDA).
Owen’s Craft Mixers Teams With Barstool Sports to Grow Digital Presence
At a time when the world is shifting online, New York-based Owen’s Craft Mixers has secured an influential new digital partner: men’s lifestyle media company Barstool Sports.
Brands Give Back Roundup: Loco Coffee Partners With Boston Area Brands for ‘Pay It Forward’ Package; Nutpods Supports Nurses and Coffee Shops on National Nurses Day
The food and beverage industry continues to step up and lend support to those in need during the COVID-19 pandemic. In this roundup, we highlight brands’ efforts to give back, including Loco Coffee’s “Pay It Forward” snack care package featuring Boston area food and beverage brands and Nutpods’ efforts to support nurses and local coffee shops during National Nurses Day.
Office Hours: Strategy, Pivots, and Planning during the Pandemic
Office Hours is returning on Tuesday, May 12 at 3 p.m. ET. Industry veterans Alan Murray and Brad Barnhorn will use examples derived from years of working with brands as board members and operators to offer advice on forecast planning, organizational strategy and leadership during the pandemic, while fielding questions from viewers at home.
Taste Radio Insider Ep. 84: The Fastest Growing Brand In This Category Was Also The Most Patient One
Jamba Dunn, the founder and CEO of Rowdy Mermaid Kombucha discussed the duality of Rowdy Mermaid’s current trajectory and its long-term business strategy, the brand’s function-forward approach to formulation, why he was cautious about aligning with a private equity firm and how his role as CEO has changed over the years.
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Monster: Q1 Sales Up 12.3%, Despite April Declines
Monster Energy reported over $1 billion in sales during the first quarter of 2020, though the company is preparing for more difficult days ahead. Net sales rose 12.3% ($1.06 billion) over the same period last year, with gross sales up 13.4%.