Truss CBD USA, a joint venture by Molson Coors Beverage Company and cannabis products maker HEXO USA, announced today plans to expand its Veryvell brand of CBD beverages across the country following its launch in the Colorado market last year.
Constellation Brands executives addressed hard seltzer’s slowing sales during the company’s second quarter 2022 earnings call today, and assured investors and analysts that the success of its core beer brands would still drive growth. Here are some of the highlights of the discussion: Company Not Reliant on Hard Seltzer Constellation president and CEO Bill Newlands… Read more »
Reyes Beer Division CEO Tom Day challenged the notion that competition in California’s beer market has suffered due to his company’s expansion efforts in the Golden State, according to a letter from the leader of the United States’ largest beer wholesaler to the U.S. Department of the Treasury.
Constellation Brands’ beer business increased both shipments (+11.7%) and depletions (+7.3%) during the second quarter of its 2022 fiscal year, the company reported Wednesday.
PepsiCo CEO Ramon Laguarta emphasized that the soft drink maker has “been investing a lot in R&D” and believes its “pipeline is strong” during Tuesday’s third quarter call with investors and analysts.
New National Beer Wholesalers Association (NBWA) chairman Peter Heimark laid out his vision for what beer (and beverage) wholesalers will be facing over the next year during his remarks at the NBWA’s annual conference Tuesday.
Massachusetts-based Willie’s Superbrew has hired former-New Belgium CMO Greg Owsley as its first chief brand officer (CBO).
Beer volumes will be flat in 2022 and for the next several years, due to a drastic slowdown in the previously meteoric growth of hard seltzer, distributors told financial services firm Jefferies in a recent survey.
Anheuser-Busch InBev (A-B) is exploring selling some of its German beer brands, valued at $1.2 billion, Bloomberg reported Monday, citing “people familiar with the matter.”
Karma Water is the latest established beverage brand to enter the CBD space, announcing today the launch of Karma CBD Water, a new line developed in collaboration with Canopy Growth scheduled to roll out next year.
Beer makers aren’t the only ones rebranding to embrace beverages. The National Beer Wholesalers Association (NBWA) unveiled a new logo and tagline today: “America’s beer and beverage distributors.”
Cannabis sales in the U.S. are predicted to surpass $24 billion this year, a growth of 38% compared to 2020, according to BDS Analytics (BDSA), a Colorado-based global cannabis market research firm.
The nation’s beer wholesalers and beer industry executives will meet in Las Vegas this week for the National Beer Wholesalers Association’s (NBWA) annual convention, and the meeting’s arrival comes amid turbulence. Large wholesalers continue to consolidate within the middle tier, while at least one New England craft-focused wholesaler has thrown in the towel. The pace of consolidation chugs on even as President Joe Biden has tasked the Treasury with examining competition within the beer industry at large, and that’s led to comments from at least two trade groups calling into question these mergers’ effect on the competitive landscape.
The Brewers Association issued a second round of comments to the Department of Treasury laying out the competitive challenges facing craft brewers, focusing on wholesaler consolidation, market access issues and restrictive state laws.
