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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.
The lines between alcoholic and non-alcoholic beverages continue to blur. Bloomberg broke the news Sunday evening that Constellation Brands and energy drink maker Monster Beverage Corp. are considering a deal.
Molson Coors has begun selling Topo Chico Hard Seltzer in the brand’s iconic 12 oz. glass bottle in seven markets, the company announced.
Anheuser-Busch InBev’s U.S. shipments and depletions both declined -4.7% in the third quarter of 2021, the company reported today. The declines were “driven by a lower industry, segment shift and supply chain disruptions resulting in out-of-stocks,” the world’s largest beer manufacturer wrote in a press release detailing its third quarter earnings.
Molson Coors Beverage Company CEO Gavin Hattersley opened today’s third quarter earnings call by reciting what he said are the seven “headlines” of the company’s last three months.
As headwinds hit the hard seltzer segment, Boston Beer Company executives reiterated their confidence in Truly Hard Seltzer’s ability to perform during a conference call to discuss the company’s third quarter earnings with investors and analysts on Thursday evening.
Boston Beer Company’s second quarter earnings call in July set the stage for a tumultuous third quarter that saw the company pull its financial guidance and anticipate write-off costs related to excess hard seltzer inventory, which was followed by a rush of investor lawsuits. Although the Q2 earnings report left analysts flummoxed and disappointed, the company’s third quarter earnings report came with less of a jolt but more of the residual sting of the slowdown in hard seltzer growth and lowered expectations.
Anheuser-Busch continues to restructure its commercial leadership team, announcing Wednesday the appointment of a new president of its AB ONE division of wholly owned distributors
Truly Hard Seltzer will say g’day to a new market in February 2022. Boston Beer Company will partner with the Campari Group to bring Truly to Australia next year, the company announced today.
The Voodoo Ranger franchise now accounts for 65% of New Belgium’s business. CEO Steve Fechheimer again highlighted the shift in the Fort Collins, Colorado-headquartered craft brewery’s priorities during the National Beer Wholesalers Association’s (NBWA) annual meeting last week.
Canadian cannabis operator Canopy Growth Corporation has entered a definitive agreement to acquire cannabis edibles maker Wana Wellness for $297.5 million, which will go into effect upon federal legalization of THC in the U.S.
Doubling down in 2022 was the theme of yesterday’s Heineken USA (HUSA) national sales meeting. HUSA’s leadership team, including CEO Maggie Timoney, stressed the message as their big ask of their wholesaler partners next year. Timoney shared that the company has posted consistent share growth over eight months. “Heineken is back. Dos Equis is growing…. Read more »
Neighbors of Tree House Brewing Company’s Cape Cod taproom and the company have reached an agreement about on-site operations, according to a report in the Cape Cod Times.
Executives of the global cannabis firm Tilray were optimistic about the company’s growth regardless of federal legalization in the U.S., during Tilray’s first quarter 2022 earnings call Thursday.
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.
