Molson Coors’ net sales increased +6.5% for the full 2021 fiscal year and +14.2% in the fourth quarter, the company reported today. The company posted net sales of $10.279 billion for the year that ended December 31. Worldwide, shipments (sales to wholesalers) declined -0.5% and brand volume (similar to depletions, which are sales to retailers) declined -1.7% over the course of the year.
Boston Beer Company announced the exit of one of its top executives, as well as offered a deep dive into its business across a pair of filings with the U.S. Securities and Exchange Commission Tuesday evening. In an 8-K filing, Boston Beer reported that Quincy Troupe, senior VP of supply chain, tendered his resignation on February 21.
Domestic tax paid estimates from the Alcohol and Tobacco Tax and Trade Bureau shared by the Beer Institute (BI) reveal a slow start to 2022. U.S. brewers shipped 12.3 million barrels of product in January 2022, a 6.2% decline (-815,000 barrels) compared to January 2021’s 13.1 million barrels, according to the estimates shared by the BI.
SweetWater Brewing has entered Oregon and Washington with Columbia Distributing, the brewery announced today. For the Atlanta-based craft brewery, Oregon and Washington mark its 39th and 40th states, respectively.
Hard MTN Dew – the partnership project between Boston Beer Company and PepsiCo Beverages – launched in three states this week: Florida, Iowa and Tennessee.
Some hard seltzer brands may be excluded from grocery and convenience stores in Utah under an omnibus bill proposed in the state Senate. Alaska’s state Senate has passed a bill that would make it harder for breweries to open taprooms in the state.
Irwin Simon, CEO of global cannabis firm Tilray, joins Brewbound Frontlines to discuss the company’s ambitions within the craft beer space following the acquisitions of the Green Flash and Alpine brands, the expansion of SweetWater, and the potential for cannabis legalization with the current Congress.
Night Shift Brewing Company’s distribution partnership with the Sheehan Family Companies is helping the Everett, Massachusetts-headquartered craft brewery fill out the northeast. Earlier this month, Sheehan subsidiary Craft Vermont began distributing Night Shift’s offerings in the Green Mountain State.
Social media posts by Josh Stylman, the CEO of Brooklyn-based Threes Brewing, drew backlash earlier this week after he called New York City’s vaccine mandate and others like it “a crime against humanity” and those who don’t speak out against them “a conspirator.”
Cannabis-infused social tonic brand Cann has closed a $27 million Series A funding round, the company announced today, setting the stage for expansion into Canada and bringing a crew of new celebrity investors into the fold.
Boston Beer Company has “many different ways” to reach the 4%-10% growth range it is targeting for 2022, even if Truly Hard Seltzer fails to grow amid the continued slowdown of the hard seltzer segment, CEO Dave Burwick said during the company’s fourth quarter and full-year earnings call.
Heineken NV reported its full-year 2021 earnings Wednesday, giving a picture into the state of its U.S. business. The Dutch brewing giant’s Heineken USA division posted low-single digit beer volume growth in 2021. However, the company recorded a nearly $231 million impairment charge related to Lagunitas.
The Brewbound team is joined by Selling Craft Beer’s Sean McNulty to discuss several brewery closures, including Modern Times’ plans to shutter four locations, the rumored deal between Constellation Brands and energy drink maker Monster, and the Treasury’s report on competition in the alcohol industry.
