Brad Avery

Legal cannabis sales worldwide are projected to rise 22% this year to over $35 billion, up from $29 billion in 2021, according to a report by Colorado-based cannabis market data supplier BDSA released today. The rapid rise in sales – covering all categories including flower, vapes, tinctures, edibles and beverages – is expected to continue… Read more »

The total U.S. CPG industry grew 2.7% to $962 billion in 2021 as pandemic-related shifts in consumer behavior and routes to market began to cement themselves, according to the latest CPG Growth Leaders report by market research firm IRI. The 52-week sales growth reflected an anticipated slowdown from 2020, when sharp spikes in retail sales… Read more »

Plant-based products brand KOS announced today it has closed a $12 million Series A financing round led by food and beverage industry veterans Clayton Christopher and Brian Goldberg. The two investors are now playing active roles in guiding the brand’s strategy, KOS co-CEO Allan Stevens said in a phone call. Christopher, a co-founder of CAVU… Read more »

After an admittedly difficult year, Kellogg Company met much of its 2021 guidance, reporting net sales growth of 4% in its Q4 2021 and full year earnings report today, but faced a 2% decline in operating profit. The earnings come as Kellogg’s has faced a myriad of headwinds, ranging from the inflation and supply chain… Read more »

The Hershey Company saw net sales rise 10.1% to over $8.9 billion in 2021, according to the company’s Q4 and full year earnings results released yesterday. Organic, constant currency net sales for the Pennsylvania-based confectionery giant rose 8.7% in the full year and reported net income was up 16.4% to $1.4 billion. Adjusted earnings per… Read more »

Family-owned food manufacturer King’s Hawaiian has acquired Hawaii-based beverage brand Shaka Tea, the company announced today. Terms of the transaction were not disclosed. The deal comes less than two years after the baked goods and restaurant company invested in Shaka as part of a $2.3 million funding round. According to a press release, Shaka Tea… Read more »

Pioneering chia beverage maker Mamma Chia is looking to emphasize diversity and empowerment with a comprehensive rebrand, set to begin rolling out to stores this month.

Health and wellness ecommerce brand Athletic Greens announced today that it has raised $115 million in a funding round led by venture capital firm Alpha Wave Global, which also has investments in companies like Alibaba, Uber and Atai Life Sciences. The deal, which raises the powdered beverage maker’s valuation to over $1 billion, is expected… Read more »

As sugar reduction continues to be a top priority for food and beverage manufacturers, seven low- and zero-sugar brands are banding together to form the Alliance to Control Excessive Sugar (ACES), a new business group dedicated to promoting better-for-you products. The group was conceived by its chairman, Super Coffee CEO Jimmy DeCicco, and includes his… Read more »

The COVID-19 pandemic will continue to impact consumer attitudes towards shopping and eating this year, according to a new 2022 trend outlook report by sales and marketing firm Acosta. Even before the current surge of the omicron variant caused infections to skyrocket, consumers surveyed by Acosta in July and October said they were continuing to… Read more »