Ayr Wellness Inc. has entered into a binding letter of intent to acquire 100% of Massachusetts-based Cultivana, the parent company of cannabis-infused beverage brand Levia, for $20 million, the two companies announced earlier this week. The transaction is for $10 million in cash and the rest in stock. An additional $40 million will be paid in shares based on performance in 2022 and 2023. The deal is expected to close at the end of this year.
The Brewbound team breaks down the new partnership between Boston Beer Company and PepsiCo to produce Hard MTN Dew in a conversation featuring guests 3Tier Beverages founder and CEO Donn Bichsel and Rabobank beverage analyst Bourcard Nesin.
Production has begun at City Brewing’s Irwindale, California-based facility, five months after the brewery’s acquisition from Pabst Brewing, the company announced today.
Canadian cannabis producer Tilray Inc. has acquired a majority stake in the debt and warrants of dispensary chain MedMen in a deal valued at $165.8 million, the company announced today.
The rise of ready-to-drink (RTD) canned cocktails isn’t going anywhere this fall, according to e-commerce beverage alcohol delivery platform Drizly in its BevAlc Insights’ “Top Predictions for Fall 2021 Sales” report.
Convenience store chain 7-Eleven is partnering with e-commerce alcohol delivery service Minibar to deliver beer and wine in Texas, Florida and Virginia.
Lagunitas’ major innovation play for 2022 is not a new IPA — or a beer at all — but a hard sparkling tea, leaders of the Heineken-owned craft brewery announced today. Disorderly TeaHouse will launch in January ahead of March off-premise resets, Lagunitas chief marketing officer Paige Guzman told Brewbound.
After announcing the hiring of Mike Parks as CEO last week, Rhinegeist Brewery co-founder Bryant Goulding discusses the decision to step back and hand the reins over to a beer industry outsider, the future of the Cincinnati craft brewery, his role moving forward and much more.
Spoetzl Brewery’s Shiner Beer launched its first new brand platform in five years last week, with a campaign to make Shiner a part of modern Texas culture, according to AdWeek.
Draft beer sales are on the rise nationwide, but are still down by nearly one-third compared to 2019 levels, according to draft beer insights firm BeerBoard.
As the COVID-19 pandemic continues, the Delta variant plays wildcard and vaccinations lag, alcoholic beverage producers need to beef up their off-premise strategies heading into the back half of the year, Bump Williams of Bump Williams Consulting warned in his latest industry analysis.
Cincinnati’s Rhinegeist Brewery has named Mike Parks as its next CEO, company founders Bob Bonder and Bryant Goulding announced in a letter to employees today.
On-premise velocity continues to trade higher than 2020, up +60% year-over-year for the week ending August 7, 2020, according to market research firm CGA.
Direct-to-consumer (DTC) spirits sales represents a $2.5-$3 billion opportunity for the industry, David Ozgo, chief economist for the Distilled Spirits Council of the United States (DISCUS), said during the latest episode of Rabobank’s Liquid Assets podcast.
