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 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.
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).
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.
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 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.
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 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%.
Hydrant, the maker of a line of powdered hydration drink mixes, has raised $5.7 million in a Series A funding round led by Coefficient Capital, the company announced today, bringing its total funding to $8.8 million. In addition to Coefficient Capital, the round also included Rx3 Ventures and prior investors Soma Capital and Sixers Innovation Lab, an incubator program run by the NBA’s Philadelphia 76ers.
Essentia Water announced today that founder and CEO Ken Uptain will be shifting into a new role as the company’s Executive Chairman, with Scott Miller, CEO of Tampico Beverages, chosen as his successor. The change is effective June 1.
Allan Mai is the co-founder of Acid League, a startup led by food scientists building a platform brand around their house-crafted, functional vinegars. The company begins by fermenting fruits and vegetables, then experiments with various recipes and product types including shrubs, cooking vinegars and condiments.
LaDiDa is a recently launched line of oat milk lattes that are infused with 15mg of full spectrum hemp extract. The products, which are packaged in 8 oz cans, come in three varieties: Matcha, Golden Turmeric and Honey Lavender.
Last month, Swig + Swallow rebranded to Cheeky Cocktails Co., dropping its entire product portfolio and the half-full bottle concept in favor of a new line premium syrups and juices, available in eight flavors for $7.50 per 8 oz. bottle.
