North Carolina-based kombucha maker Tribucha has closed a $1.5 million Series A funding round, the company told BevNET this week. The raise comes as the five-year-old brand, which markets its product in 12 oz cans, plans to expand distribution by more than 600 accounts this year.
On its way to becoming one of the hottest brands in food and beverage, oat milk brand Oatly had “already failed in the biggest ways possible,” according to the company’s U.S. general manager Mike Messersmith. In an interview included in this episode, he explained the simple philosophy that guided Oatly through its growing pains: “It’s all about progress.”
In April, online retailer Boxed made its entrance into the space with the launch of Stellar Seltzer in 12 oz. cans. The four-SKU line of naturally flavored, zero calorie sparkling waters is the next step in Boxed’s plan to feed the beverage segment of its private label business with engaging brands that can compete in high velocity foundational grocery categories such as water.
GoodBelly Probiotics’ Bubbles is a two-SKU line of refrigerated USDA organic sparkling probiotic beverages and is the company’s first sparkling line extension.
We’re excited to release the official agenda for BevNET Live Summer 2019, which returns to the Metropolitan West in New York City in just 22 days. Packed with beverage industry veterans and thought leaders, the agenda is curated to tackle the challenges faced by companies within the beverage industry and provide insight into the future.
The acquisition will help Caliva to broaden its vertically-integrated cannabis business -- which produces flower, vape, and oil products -- into beverage through its access to Zola’s research and development team and established retail distribution network.
In this episode, we sit down with Darren Marshall and Ravi Kroesen, the CEO and Head Teamaker, respectively, of specialty tea company Smith Teamaker for a discussion exploring how a small company can influence an entire industry.
Wedderspoon is a company that produces manuka-honey based products, including personal care products, drinking vinegars and candy, as well as raw manuka honey in a variety of different formats. Now the company is jumping into the RTD beverage game with a three-flavor line of unfiltered apple cider vinegar (ACV) beverages.
The results found that sales of sugary beverages dropped 51% in the first year after the city’s soda tax took effect in 2017. The tax also led to an increase in beverage prices and a sharp decline in volume sales, dropping from 2.475 billion ounces in 2016 to 1.214 billion ounces in 2017, according to the report.
In the cannabis business, there’s still so much in motion from a legal standpoint that entrepreneurs are constantly subject to regulatory and financial uncertainty. So how do you navigate the river when its path keeps moving? We’ll talk about it at Cannabis Forum next month, with experts who spend their days charting the course.
Last week, Eater analyzed the eternal cool factor of AriZona Iced Tea, the 99 cent 24 oz. gas station mainstay which hit shelves in 1992. The brand has withstood the test of time, somehow avoiding the trappings of trendy 90s nostalgia to become what Eater calls simply “a mood.”
Arlington, Va.-based Commonwealth Joe, which roasts, brews and provides kegs of cold brew to clients on the East Coast, is one of several partners across the country working with Smart Beverages Technologies (SBT) as a provider of the company’s Kegerator Vending Machines (KVM), an innovative self-serve concept that aims to address one of the major hurdles to cold brew providers.
Snowing in Space Enters Whole Foods Mid-Atlantic; Nitro Beverage Co. Signs with Rainforest Distributing; Petal Plots Nationwide Expansion Plan; Vita Coco Adds Life Time Locations; BUBBL’R Grows Midwest Distribution
The company generated $8.4 million in net sales during the first quarter, up 2% from 2018. Sales of the core Reed’s Ginger Beer line were up 15% while craft soda Virgil’s grew 46%. Gross profit increased 9% to $2.5 million and gross margin increased 185 basis points to 30%.
