Seeing its more coconut-forward Pressed extension giving brand a big lift, Vita Coco is building out PET-bottled version that offers greater distinctiveness from core Tetra Pak line, adding pair of flavors due in time for spring store resets. After harnessing Pressed launch in Tetra to “impossible to hate” campaign that’s enjoyed some viral moments and seeing commensurate sales lift, Vita Coco was quick to add c-store-friendly half-liter slim bottle that offers clearer distinction vs flavor-polarizing core line, starting with Pressed and Pressed Pineapple flavors. (A version of Pure coconut water also is in package.) Building on momentum, at NACS it debuted pair of new flavors due to ship in early Mar: Pressed Strawberry Banana and Pressed Mango. Catching up after show, sales chief Michael “Goldy” Goldstein told us PET line was devised to give Pressed greater separation vs core line, given extension’s mandate to corral consumers who’ve been averse to coconut water flavor, the “haters” targeted in campaign. He said Pressed had ignited 35% bout of growth over past few months in core NY market that had been flat for 2 years, +25% nationally. Tetra format remains “gospel” in brand’s launch market of NY, he noted, so that continues to be the horse behind Pressed, but bottle format has been embraced in rest of US.

Are convenience and gas stores finally ready for a brand like GT’s Kombucha? That was premise of first appearance at NACS expo by kombucha pioneer, which was pushing recently launched line of Aqua Kefir Sparkling Probiotic Drinks that offer lighter-drinking “refreshment with benefits,” per trademarked slogan. Unlike core kombuchas, which are fermented from tea, Aqua Kefirs employ water base flavored with “ancient kefir grains” plus minerals and dried fruit. That means they avoid vinegar bite of kombucha, while still holding promise of 1 bil living probiotics per 16-oz bottle. Water base also means they’re dairy free, vs conventional dairy-based kefirs. They’re viewed by Beverly Hills-based co as offering entry point into fermented bevs for less sophisticated consumers of type who might lurk in c-stores. Unlike core entries, they’re not small-batch, but they still are artisanal, GT’s exec argued. The entries are available in Pear Ginger, Pomegranate, Coconut Lime and Peach Pineapple flavors, line-priced with core kombucha line. Using cane sugar as sweetener, they list 6 g of added sugar and come in at 40-50 calories per bottle. They first shipped in Jun, joining joined expansive portfolio comprised of core kombuchas in alc and NA versions, Alive adaptogenic teas, CocoKefir and VeggieKefir probiotic shots, CocoYo coconut yogurt and Dream Catcher Sparkling Wellness Water in CBD-infused and uninfused versions.

Grabbing further oversight of its heavily money-losing $4 bil investment, Constellation Brands has installed its cfo, David Klein, as chmn of cannabiz Canopy Growth. He succeeds interim chmn John Bell, who continues to hold board seat. Actions are happening in wake of stunning ouster in Jul of Bruce Linton, cofounder who held both chmn and ceo roles and presided over deteriorating financial performance that spooked Constellation. Marketer of Corona beer named Klein to CGC board after it took stake and now he gets bump up to chmn .

Here’s a chance for bev investors to feel superior to tech investors. Those on tech side seem to be learning painful lesson that those in bevs had already been forced to pick up in recent years: profitability matters, or at least a path to profitability. In wake of financial fiascos like WeWorks’ aborted IPO and cratering of share prices of newly public Peloton and SmileDirectClub, tech investors have been taking a more sobering view of whether the pathbreaking cos of which they’re enamored actually have a chance of making money some day, as NY Times recounted. Judging by one anecdote in article, which can be accessed here, investors weren’t just being casual in their scrutiny of profit performance, they weren’t looking at it at all. At NY’s Eniac Ventures, “the partners recently combed through their companies and identified the ‘gross margins’ – a measure of profitability – for each one, said Nihal Mehta, general partner of the firm. This was not something the firm regularly looked at, he said, but they were inspired” by cautionary blog post by Fred Wilson called The Great Public Market Reckoning that’s been widely read by tech investors. “What we are seeing, for the most part,” Wilson wrote in that post, “is that margins matter. Both gross margins and operating margins.” Wilson argues that investors have been according all tech cos the same multiples as software players boasting 70-80% gross margins, to their current regret. Blog post can be accessed here. Of course, bev sector experienced a similar come-to-Jesus milestone a few years ago when investors and strategics began paying more attention in their assessments to whether a new bev building impressive topline has realistic chance of ever making money.

There was a time big bevcos figured they could weather the sugar backlash in US and Europe while continuing to ride their sugared brands in higher-growth developing markets. But as concern about obesity has become global issue that backlash has been spreading. Now it’s Singapore that’s planning restrictions on ads for higher-sugar bevs as it combats what’s one of world’s highest diabetes rates, Reuters reported. In fact, for some bevs it will be outright ban. “Under the measures, further details of which will be released next year, high-sugar drinks will also be required to bear health warnings on labels,” per wire service. “Singapore's action appears to go further than measures in other countries such as Mexico and Britain, which restrict when advertisements for high-calorie food and drinks can be shown on television to limit their exposure to children.” Reuters cited statement from health ministry promising prohibition on ads for “the least-healthy SSBs,” referring to sugar-sweetened bevs, on “all local mass media platforms, including broadcast, print, out-of-home and online channels.” By now, major bevcos have built out broader platforms of lower- and zero-sugar brands, so ban may not prove hugely disruptive; after all, if ad is allowed for, say, Coke Zero Sugar, it’s doing double-duty for core sugared brand too. For his part, KO country mgr Ahmed Yehia assured Reuters that KO “welcomed the plans and would work to reduce sugar levels in its drinks sold in Singapore. We will continue to rethink many of our recipes in Singapore to reduce sugar, because while sugar in moderation is fine, we agree that too much of it is not good for anyone. We foresee minimal impact on our portfolio from this announcement.”

NY-based better-mixer brand, Owen’s Craft Mixers, is claiming to have pulled in $3 mil in Series A round from Chicago-based Levy Family Partners, as it builds on retail base it says has grown to 5K accts in less than 2 years.  Owen’s was founded by bros-in-law Josh Miller and Tyler Holland, who named the brand after a great-great-grandfather who ran a grocery and bar in Portland, Maine.  They started with Ginger Beer/Lime mixer and by now have built out line of 4 sparkling mixers that are claimed to support 45 recipes.  The other 3 are Mint/Cucumber/Lime, Grapefruit/Lime and Tonic Water/Lime, all made with real juice.  The items are offered in 750-ml multiserve bottles and single-cocktail size of 6.5-oz sporting mule icon that’s reference to Moscow Mule cocktail that inspired venture.  In NY area, shelf-stable line is carried by Fairway, Westside Market and Walmart, but it’s also found role in foodservice venues like stadiums, restaurants and hotels that are seeking streamlined way to upgrade offerings.  No further details were available yet, and pr rep who approached us a day ago about raise has gone silent this afternoon.  Brand info at OwensMixers.com.

Levy Family Partners is Chicago-based early-stage investor whose past exits include Oars & Alps skincare products for men and Bucketfeet DTC shoe brand, per CrunchBase.  It’s also invested in offstreet parking app SpotHero and Wise Apple lunch delivery service.  MassInvestorDatabase lists Levy Family Partners as investment vehicle for Levy Restaurants cofounder Larry Levy, who built that co from a single delicatessen into operator of higher-end restaurants and sports arena concessions of the type Owen’s is targeting, before divesting that co about a decade ago.  He operates Diversified Real Estate Capital and his son Ari is founder/prexy of Lakeview Investment Group, which has coinvested with LFP in local poke chain and perhaps other food/bev concepts. 

Celsius Holdings said it’s undertaken big expansion within Kroger grocery chain, placing 4-7 sku’s of its Celsius-branded fitness energy sku’s since this past spring in what are now 1,100+ stores around US. The placements include both bev aisle and large endcap displays, the Florida-based co said. The expansion brings Celsius’ grocery presence to 7K stores, not just in diet and nutrition aisles but also in energy set, cold box, front checkout and endcaps, said prexy/ceo John Fieldly. Citing SPINS syndicated data, he said brand has increased its total ACV from 15% to 24% over 52 weeks thru Sep 8, with same-store sales surging 32%.

Hain Celestial has launched tea-with-benefits line under its Celestial Seasonings trademark called TeaWell, employing nutrient blend called Daily Wellness Core in range of existing and new flavors. At heart of functional blends is Daily Wellness Core that includes panax ginseng for mental sharpness, dandelion root for digestion, elderberry for immune support and green rooibos for antioxidant content. It’s at heart of 4 new flavors: Organic Green Tea with Grapefruit (including touch of hibiscus), Organic Mint Guayusa (with spearmint), Organic Moringa Lemon Ginger and Organic Hibiscus with Lime. TeaWell also is available in 4 familiar flavors from Celestial playbook: Organic Matcha Green (matcha and Sencha green tea plus moringa), Organic Ginger Mint (with moringa), Organic Turmeric Spice (with spice blend of cinnamon, cardamom and black pepper as well as moringa) and Organic Honey Lemon (with moringa). It’s priced at $4.99 per box of 16 teabags. “Live well, be well, TeaWell,” is brand mantra.