Read the latest beer industry news relating to Big Beer including earnings reports and updates from key players such as A-B Inbev, Molson Coors, Constellation Brands, Heineken, Diageo, Boston Beer, and others. Explore market trends, global expansion efforts, and strategic partnerships within the beer industry.
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Southern Glazer’s Wine & Spirits’ ambitions for Anheuser-Busch InBev’s portfolio aren’t limited to New York. The wine and spirits juggernaut has struck another deal for a red network distributor, this time for the assets of Eagle Rock Distributing Co. in Colorado.
Molson Coors has struck a deal to acquire spirits-based, ready-to-drink (RTD) cocktail pioneer Atomic Brands, whose Monaco Cocktails entered the then-nascent space in 2012. The deal should come as no surprise, as it aligns with Molson Coors’ goals to expand its beyond beer portfolio, part of the Horizon 2030 plan CEO Rahul Goyal outlined earlier this year.
A pair of big red network distribution deals were announced in the last 24 hours. Anheuser-Busch InBev has agreed to purchase the distribution rights of its brands, as well as “certain craft/NA brands,” from Advance Beverage Company in Bakersfield, California. Meanwhile, Southern Glazer’s Wine & Spirits inked a deal for independent A-B distributor Clare Rose on Long Island.
Boston Beer Company’s leadership admitted the company has not performed “as expected” so far this year, lowering its guidance to a volume loss between -2% and -8%, during an earnings call with investors Thursday afternoon.
E-commerce beverage-alcohol platform Provi defended its antitrust lawsuit against Southern Glazer’s Wine and Spirits and Republic National Distributing Co. (RNDC) this week, arguing the two distribution giants have relayed a “misleading narrative” to the court, Law360 reported.
Due to the “greater than expected continuing decline in demand in the hard seltzer category,” Boston Beer Company has “reduced” its fiscal year 2022 volume and earnings guidance, founder and chairman Jim Koch said in a press release announcing the company’s Q2 2022 results.
What could the sale of a long fiercely independent craft brewery to a global brewing giant mean for consumer sentiment?
Diageo announced two new executive appointments this week, effective October 1: Debra Crew as chief operating officer (COO), and Claudia Schubert as president, North America.
Molson Coors will invest in national advertising during Super Bowl LVII, making it the first brewer other than A-B to run an official commercial during the broadcast in more than 30 years.
Anheuser-Busch InBev has struck a deal to sell its Oakland, California-based wholly owned distributor to two independent wholesalers, Markstein Sales Company and Matagrano, Inc.
Another financial services firm has lowered Boston Beer Company’s stock (SAM). RBC Capital Partners today downgraded the company’s stock from an “outperform” rating to “sector perform.”
Vita Coco is the latest non-alcoholic beverage giant to dip its toes into the RTD cocktail space, announcing today a collaboration with spirits conglomerate Diageo to release a line of coconut water spiked with Captain Morgan white rum.
Pricing was the clear theme of the question-and-answer portion of Constellation Brands’ first quarter FY2023 earnings call on Thursday. More specifically, analysts were wondering why the company is hesitant to increase price in an inflationary environment. CEO Bill Newlands reiterated that Constellation’s “long-term algorithm on pricing is +1%-2%,” although last year it increased beer prices +3.5%.
Constellation’s beer depletions increased +8.7%, while shipments grew +17.3%, to 99.5 million case equivalents during the first quarter of its 2023 fiscal year, the company reported today. Net sales increased +21%, to more than $1.898 billion, with gross profit of more than $1 billion (+14%). The beer business’ operating income also increased +13%, to $762.8 million.
Goldman Sachs’ pessimism for Boston Beer Company’s 2022 sales performance and the company’s ability to reach its 2022 guidance continues, with analyst Bonnie Herzog downgrading Boston Beer to a “sell” rating in the financial services firm’s June Beverage Bytes retailer survey.
The life of Bevy Long Drink, Boston Beer’s malt-based foray into the Finnish long drink segment, won’t be very long after all. The company has discontinued the brand, which it launched in 20 test markets late last year and expanded nationwide earlier this year.
Light lager continues to increase share on Drizly, clawing back share losses to hard seltzer over the past two years, according to the e-commerce alcohol delivery platform in its latest BevAlc Insights report.
