Coca-Cola
Coca-Cola 2nd Q Results Beat Wall Street Forecasts
The company posted second quarter earnings and revenue numbers that surpassed forecasts as well as 2019 levels. They also convinced the company to revise the organic revenue growth forecast upward to 12 percent to 14 percent, compared to the prior outlook of high single-digit growth. Second quarter financial highlights: earnings per share were 68 cents adjusted vs. 56 cents expected; revenue was $10.13 billion vs. $9.32 billion expected; net income was $2.64 billion, or 61 cents a share, up from $1.78 billion, or 41 cents a share in 2020; unit case volume, ignoring the impact of currency and price changes, was flat compared with 2019; sparkling soft drinks volume rose 14 percent; nutrition, juice, dairy, and plant-based beverages volume grew 25 percent; and hydration, sports, coffee, and tea volume grew 25 percent. The company said the healthy numbers were due to a significant increase in marketing and advertising spend.
CCBA Shores Up Executive Committee As It Prepares To Go Public
Coca-Cola Beverages Africa‘s two key appointments to its executive committee, effective August 1, include Andrew Musingo as chief integration officer and Tshidi Ramogase as public affairs, communications, and sustainability director. Africa’s biggest Coke bottler will be listed in Amsterdam and Johannesburg within 18 months, with Amsterdam as the primary exchange. According to reports, the listing is intended to deliver a broad, supportive, long-term investor base for the ongoing development of the CCBA business. Ramogase occupied the same role at the company’s South African subsidiary since 2016, and before that at Amalgamated Beverage Industries from 2010. Musingo has more than 25 years of executive experience spanning across service and consumer goods industries in the U.S., South Africa, Kenya and Tanzania
Other Companies
Shrubbly Unveils Functional RTD Sparkling Water Combining Fruit And Vinegar
The Hinesburg, Vt.-based beverage company says its sparkling “shrub” is concocted from an old-time (15th century) recipe that blends fruit and vinegar mixer. Shrubbly is made from antioxidant-rich fruits, herbs, spices, and apple cider vinegar, as well as prebiotics. Caffeine- and alcohol-free, vegan/vegetarian friendly, gluten-free, non-GMO, no/low sugar, and low calorie, the drink is available in Lemon Ginger + Aronia Berry and Aronia Berry + Pomegranate flavors. According to Bloomberg, functional drinks grew 360 percent year-over-year (as of May 31, 2021), compared to nine percent for the rest of the beverage market. Prebiotic drinks with plant-based fiber that support digestive health exceeded 660 percent growth in 2020.
Monin Unveils Flavor-Neutral Energy Boost Ingredient For Beverages
The French flavor manufacturer and beverage solutions company has introduced Energy Boost, a caffeine-boosting ingredient for beverages. A half-ounce of the product adds 55 milligrams of natural caffeine to any beverage – hot, cold, water, cocktails, etc. – without altering the flavor of the original drink. Made with guarana, green coffee extract, ashwagandha, ginseng, and coffeeberry whole coffee fruit extract, Monin Energy Boost is low in calories and contains zero sugar. With more caffeine in one serving than a typical diet cola and as much as a cup of coffee, a full bottle contains enough boosts for 67 energy drinks. The one-liter PET bottle is recyclable, and does not generate the excessive packaging waste that a typical canned energy drink would create, the company says.
Primo Water North America Acquires Oregon Bottled Water Company
The subsidiary of Primo Water Corporation, formerly known as Cott, has acquired the Sweetwater Company (Culver, Ore.), trading as Earth2O. The 30-year-old company, which sources its water in the Cascades Mountains, supplies bottled water to residential and retail customers in Oregon and the Pacific Northwest. According to a statement from Primo (Lakeland, Fla.), the acquisition will add approximately 9,000 new customers to its’s existing customer base, and will strengthen its footprint in the Pacific Northwest.
Jones Soda Arranges Financing As It Prepares To Enter Cannabis Drinks Market
Two years after a cannabis company took a minority stake in its business, the Seattle, Washington, craft beverage company is arranging financing to begin the production and sale of cannabis-infused beverages, edibles, and related products. The company borrowed $2 million via a convertible debenture issued to cannabis company and minority investor SOL Global Investments Corp, and entered into a non-binding term sheet with Pinestar Gold and SOL. The planned cannabis operations will be operated through one or more subsidiaries separate from the craft beverage business.
Happi Free From To Launch Flavored Oat Drinks Next Month
The U.K.-based oat milk chocolate brand is entering the drinks aisle with the introduction of a new range of flavored oat beverages. Plant-based Happi Oat Drinks will launch with chocolate and strawberry flavors, both of which are free from gluten and enriched with vitamins A, B6, B9, B12, C, and D. Made using oats milled and processed in the U.K., they will be available in one-liter cartons at an MRSP of £2.39 ($3.27) in August in the U.K., Ireland, and The Netherlands.
Daily Dose Debuts Plant-Based Superfood Drink Powder
The Chicago-based vegan superfood brand’s new green superfood drink powder is 100 percent plant-based, vegan, non-GMO, gluten-free, dairy-free, soy-free, and contains zero processed sugars or synthetic vitamins. The powder mix contains organic cold-pressed barley grass juice infused with a variety of organic greens and superfoods. Each scoop mixed with water contains the equivalent of two full servings of vegetables and is rich in plant-based vitamin B-12. Daily Dose Vegan Superfood Drink is available online.
Free Rain Introduces Maca-Based Sparkling Aphrodisiac
The New York, N.Y.-based functional beverage company’s new “Arousal” drink is sparkling water blended with 500 mg. of the Peruvian aphrodisiac herb maca, plus pink grapefruit and basil. According to the company, maca has been used for generations to nourish libido, enhance sexual energy, and support hormonal balance. Available in three flavors – Energy (tart cherry & Siberian ginseng), Focus (blood orange ginger & ashwagandha), and Calm (blackberry & passionflower), each can contains 16 to 25 calories with no added sugars. Arousal is available on freerain.com for $2.99 a can, $35.99 for a 12-pack, or $64.79 for a 24-pack.
Ball Corporation To Build Aluminum Beverage Packaging Factories in U.K., Russia
With the demand for recyclable aluminum packaging growing fast in an expanding number of categories, the Colorado-based manufacturer of beverage packaging as well as home canning products is planning to build new factories in the U.K. and Russia. Each of the planned facilities would produce billions of cans every year across various formats and sizes beginning in 2023. Earlier this year, the company announced plans for a new $200 million aluminum can plant in the Czech Republic. The new U.K. plant, Ball’s third beverage can factory in the U.K., will supply cans for domestic customers in categories such as hard seltzer, wine, and ready-to-drink cocktails.
Red Bull, Rauch To Build Manufacturing, Canning Factories In N.H.
Austrian energy beverage company Red Bull and fruit juice maker Rauch announced they will work together to build a manufacturing, canning and distribution hub in New Hampshire. The state is providing financial incentives of up to $4.1 million for the two companies combined over 12 years should they meet job-creation and investment thresholds. Through subsidiaries, the two firms plan to create the production hub on the grounds of the now-closed Philip Morris cigarette manufacturing site in Concord, according to state officials. The project will mean a $740 million investment in Concord by 2027.
La Colombe Coffee Roasters Launches Integrated Marketing Campaign
The Pennsylvania company’s (Philadelphia) summer ad campaign is focusing on increased distribution of its RTD Draft Latte product. The company earlier this year partnered with Molson Coors Beverage Company in a deal that gives it access to drug and convenience stores nationwide. The summer campaign includes media, field & experiential, PR, and merchandising, designed to build brand awareness for the Draft Latte. The company worked with New York City-based media agency, Big, and its proprietary market and media planning team, to identify Los Angeles, Chicago, and Washington, D.C., as key target areas.
More...
Copyright 2024 Business360, Inc.