Posts by Brad Avery
Bulletproof 360 is launching redesigned packaging and a new line of cold brew lattes as the company targets nationwide, omnichannel retail expansion. The new packaging is aimed at streamlining the brand’s look and feel across all products, including beverages, food and supplements.
As special purpose acquisition companies (SPACs) targeting the CPG sector have experienced a sudden surge in interest this year, Clayton Christopher is the latest food and beverage industry veteran to join the party.
Plant-based food and beverage maker Califia Farms announced yesterday that it has named CPG industry veteran Dave Ritterbush as CEO. Ritterbush said the brand will continue to look beyond beverage as the platform expands.
Facing major disruptions to its traditional business model, New York-based coffee maker Wandering Bear announced yesterday the launch of a new suite of products designed to bring the formerly office-focused brand into the at-home coffee space.
On Wednesday, more than two dozen brands took to Instagram Live for a series of discussions on racial equity and the Black experience in the food and beverage sector as part of the #OnTheMenuNow Initiative. The series of video conversations paired Black founders and CEOs with white brand leaders and covered topics including job opportunities, the pandemic and systemic racism.
On Tuesday, Oatly closed one of the largest food and beverage financing deals of the year when it announced a $200 million funding round led by Blackstone Growth. Speaking with BevNET, Oatly CEO Toni Petersson said the financing represents a diversification of the company’s ownership structure, bringing in an American firm that will work directly with its European and Asian arms.
Though the current market has been thoroughly disrupted by the COVID-19 pandemic, leaving uncertainty about how consumer behavior will shift long term, a new report by market research firm IRI showed that last year was marked by numerous “blockbuster” food and beverage launches as both conglomerates and smaller companies introduced new products that quickly surpassed $100 million in sales.
Shaka Tea, a Hawaii-based maker of ready-to-drink and bagged tea products, has raised $2.3 million in a funding round led by farming company Mahi Pono, bringing the brand’s total financing to $4.1 million.
In a webinar hosted by the Hirshberg Institute on Wednesday, three leaders in the natural grocery space discussed how distributors and retailers are responding to the fast-changing environment and what brands can do to stay on top of the crisis.
Last week, three new reports from market research firms IRI, Datassential and Blue Chip, shone light on how consumer behavior has changed since March and what the industry should anticipate as the crisis eases and a new normal for consumer buying habits emerges.