In the midst of a new sales and marketing strategy, Celsius Holdings has partnered with GBS Smash! Brands to expand the availability of its calorie-reducing drink. Smash! Brands, the commercialization unit of food/beverage advisory firm GBS Growth Partners, will assist in the development of Celsius' distributor and retailer network and initially focus on expanding the brand's presence in California and Texas.

AriZona is swinging for the fences with a new coffee drink bearing the name of legendary baseballer Joe DiMaggio. Joltin' Joe is a lightly carbonated espresso beverage made with 80 mg of caffeine, and sweetened with Reb A stevia. The drink contains 100 calories per 16 oz. can, which is wrapped with a sepia-colored photo of DiMaggio as well as black and white images and newspaper headlines touting the outfielder's storied career.

Raising capital can be one of the most daunting tasks for beverage entrepreneurs. Because of the limited routes to finance for new companies, it is often thought that angel investors and institutional firms have the ability to pick and choose investments at will. However, Michael Burgmaier, a managing director with investment bank Silverwood Partners, explains that the selection process between investor and entrepreneur should be a two-way street.

Remember that request for information from a state attorney general we wrote about not too long ago? According to the Wall Street Journal -- which cited unnamed sources -- the probe was initiated by New York's attorney general, Erik Schneiderman.

On the eve of the 2012-13 NFL season, Vita Coco announced today that it has signed four professional football players to join its roster of athlete endorsers. San Francisco 49ers tight end Vernon Davis, Arizona Cardinals wide receiver Larry Fitzgerald, Denver Broncos wide receiver Eric Decker, and Chicago wide receiver Devin Hester will represent the coconut water brand and appear in ads promoting its message of "Hydrate naturally."

Eric Skae, who stepped down last year as the head of New Leaf Brands, the tea and juice company he started and ran for several years, has re-surfaced with a new beverage business consulting practice.

J. Andrew Guard, a BevNET employee who had previously worked for OWater’s Tom First as Operations Manager, is returning to the beverage business. Guard is taking an operations position at Purity Organics, a portfolio company that works closely with First and is backed by investment from First’s new employer, First Beverage Group, which was started by investor Bill Anderson.