Boston Beer Company CEO Dave Burwick will step down and retire from the company’s board of directors, effective April 1. Michael Spillane, a Nike executive and lead director on Boston Beer’s board of directors, will supplant him.
Beverage sales in the convenience channel remained “healthy” in Q3 2023, up +4.4%, despite decelerating from stronger +6.6% growth in Q2, according to the latest Beverage Bytes survey of retailers conducted by Goldman Sachs Equity Research.
Boston Beer Company has filed a complaint against Downeast Cider and a former employee who now serves as the Boston-based cider maker’s SVP of marketing.
Monster Energy is “all-in on alcohol” and “thinks it could be big for them by 2025,” according to Goldman Sachs equity analyst Bonnie Herzog’s report from the National Association of Convenience Stores (NACS) trade show. The energy drink maker, which entered beverage-alcohol with the acquisition of CANarchy in January 2022, displayed its forthcoming hard tea, Nasty Beast Hardcore Tea during the show, Herzog wrote.
Craft continues to battle declines, with dollar sales for the segment down -1% in the last 52 weeks (ending September 19) and volume down -5.3% in Circana-tracked channels. But the ebbs and flows of craft are what make it a “success,” Samuel Adams founder Jim Koch said last week during the company’s annual media brunch at the Great American Beer Festival (GABF).
Distributors noticed stronger beer trends this summer versus last summer, “despite headline concerns over the slowing category and ongoing Bud Light pressures,” Goldman Sachs analysts reported in the company’s latest Bev Bytes Beer Distributor Survey.
Beyond beer has been a key growth driver for bev-alc companies, and it’s the beer category’s battle to win, according to Boston Beer Company founder Jim Koch.
Brewbound recently caught up with Dogfish Head co-founder Sam Calagione on the brewery’s 2023 performance and fall beer programming.
Boston Beer Company chief sales officer John Geist will retire at the end of the year after 26 years with the company and seven years leading sales.
Boston Beer’s shipments declined again in Q2 – down -4.5%, to 2.3 million barrels. However, the company is still confident in its projections and its “strategic priorities remained unchanged,” founder Jim Koch said Thursday during the company’s call with investors.
Boston Beer Company reported its second quarter earnings today, with net revenue declining -2.1%, to $603.3 million, compared to the same period in 2022.
Boston Beer is “cranking up the dial on ABV” with its newest offering: Twisted Tea Extreme.
The convergence of beverage-alcohol and non-alcoholic brands may be a new trend, growing exponentially in the past few years, but it’s been decades in the making, according to leaders in the space during a BevNet Live panel last week.
Boston Beer Company has appointed Philip Hodges chief supply chain officer, according to an 8-K filing, submitted to the U.S. Securities and Exchange Commision last week.
Boston Beer Company’s promised refresh of Truly Hard Seltzer started hitting shelves this spring, with new packaging, real fruit juice and new campaigns designed to communicate a “clearer message” to consumers.
