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Molson Coors Beverage Company’s overall business remained in the red as the company closed its 2024 fiscal year. However, the fourth quarter showed improvement over the double-digit declines reported in Q3, and leadership is confident the company can return to growth in 2025, according to Molson Coors’ earnings call today with investors and analysts.
Just like the Kansas City Chiefs, draft beer also took an L in Super Bowl LIX. Draft beer volume declined -4.6% nationwide on Super Bowl Sunday, according to on-premise insights firm BeerBoard.
Tilray Brands is moving large-scale production from Revolver Brewing’s facility in Granbury, Texas, to other facilities, the company confirmed in a statement to Brewbound. Revolver’s Texas location “will continue to operate, focusing on unique and innovative brews, and the taproom will remain open.”
A little more than two years after announcing it would open, Boston Beer’s Dogfish Head taproom in Miami will shut its doors on November 5 due to “marketplace factors beyond our control,” according to an internal memo.
Boston Beer Company is launching a multimillion-dollar, multi-channel marketing campaign to support Truly Hard Seltzer, which it recently reformulated with real fruit juice. In the new ad campaign, Boston Beer, which has leaned on singer Dua Lipa in previous Truly ads, has instead turned to fruit flies to help promote the reformulated hard seltzer brand.
The founders of Sunboy, a spiked sparkling coconut water, initially got together slanging fresh coconuts at events and parties in New York. The two hosted parties on the Brooklyn Bridge selling coconuts from a bicycle, eventually growing the enterprise to offer the experience at food and corporate events. But when the pandemic put those events and that hustle to a stop, Luke McKenna and Yair Tygiel were forced to come up with another product: a hard coconut water.
The college football season kicked off last weekend and will go into full throttle this Labor Day weekend. For those watching at home, Boston Beer Company’s Twisted Tea will be heavily featured this weekend and throughout the season. Boston Beer’s playbook for Twisted Tea includes a 360-degree marketing “Tea Drop” campaign, with new 15- and 30-second TV spots that will be featured across the major networks airing college football games.
Molson Coors U.S. president of sales and distributor operations Kevin Doyle will retire on December 31 after nearly 40 years with the company. Chief customer officer Brian Feiro will backfill Doyle’s position after training with him for the next several months, Molson Coors announced today.
Beer Kulture, Brave Noise, and Women of Bevolution have launched a grant program aimed at helping underserved groups launch businesses in the craft beverage industry.
Anheuser-Busch InBev (A-B) has combined the U.S. field sales teams from its craft brewery and “high end” divisions to create a new high end field sales team.
Diageo North America (DNA) has tapped Rodney Williams as president of Diageo Beer Company (DBC) and Canada. Williams succeeds Nuno Teles, who occupied the role before moving to the United Kingdom to serve as Diageo’s managing director for Great Britain, a promotion that was announced in April.
Cincinnati’s Rhinegeist Brewery will begin “a two-stage expansion” into Houston, Texas, starting in mid-August via Silver Eagle Distributors.
One year after its launch, the joint venture between Boston Beer Company and Beam Suntory revealed a third product: Twisted Tea Sweet Tea Whiskey. Hard MTN Dew – a collaboration between Boston Beer and PepsiCo – rolled out to Las Vegas retailers this week after a regulatory standoff with the Nevada Department of Taxation.
Monster Beverage Company confirmed its long-rumored entrance into beverage alcohol during its Q2 2022 earnings call on Thursday, announcing that Monster Beast Unleashed, a four-SKU line of flavored malt beverages (6% ABV) will launch in late Q4 2022 with the goal of being nationally distributed by the end of 2023.
For the 52 weeks ending July 16, the combined malt- and spirits-based hard seltzer segment reached $4.263 billion, according to Jefferies equity research managing director Kevin Grundy. In the last four weeks, spirits-based seltzer’s share of the business has reached 9.1%. Malt- and sugar-based hard seltzers account for 90.9% of the segment – and their sales are declining.
CELSIUS’ leadership believes the company’s new distribution partnership with PepsiCo will help increase its distribution footprint by around 40% over the next 12 months as the Florida-based energy drink brand eyes new channels and global growth.
Molson Coors’ second quarter earnings report featured varied results, including volume declines, an increase in net sales per hectoliter (+7.1%) and the company’s first increase in U.S. dollar share in more than a decade.
