Interesting local variant on all the national stories on Modelo Especial overtaking Bud Light as #1 brand. In Ohio's capital as well as home of Ohio State, Miller Lite is "the best-selling brand in 2023 so far," reported Columbus Post Dispatch, citing Circana food store data, from Fintech's Rob Garrity. Not incuding c-stores is "most reliable way" to track that local mkt, sez Rob (tho it may skew picture—see below). Overall beer sales down 6.6% to $60 mil yr-to-date in Columbus food stores. Ouch.

Sheehan Family continues to sell off pieces of its multi-state distribution biz as AB network in NJ agreed to acquire Hunterdon biz. Deal amounts to over 1.2 mil cases, including top suppliers like Founders, Lagunitas, Allagash, Stone, Troegs and CANarchy, along with many other brands. Lotsa supplier approvals to go thru, among many other details. Editor’s note: Monster FMB brands just entered NJ with AB network in Aug and stuck with AB network following Sheehan MD sale to AB network there. In MD deal, Lagunitas stuck with AB network rather than going to parent co Heineken’s network. Will it do same in NJ?

But there’s a long list of longtail brands likely to get left out and spun off to other distribs in state, INSIGHTS understands. Hunterdon’s website lists 113 craft beer & cider brands, 84 import brands, 47 spirits brands, 8 “malternatives,” plus a non-alc ginger beer (tho website portfolios aren’t always up-to-date). Deal announced to employees today, but closing won’t happen ’til at least late Nov/early Dec since NJ has 90-day WARN (Worker Adjustment and Retraining Notification) period for employees. Hunterdon employs ~125 workers who will hope to stay on with acquiring distribs.

Similar to MD, this is a complex deal involving 5 distribs across the state, between High Grade, Ritchie & Page, Northern Eagle, Harrison and Konrad. But AB network seems more eager to come to the table with Sheehan amid tuff Bud Light losses. Altogether, Sheehan sold biz for 2.5-3X GP, INSIGHTS has heard. But recall, Sheehan made nice returns (and then some) from individual brand sales over the yrs, including Ballast Point, Bell’s, and Dogfish Head trading for more like 6-7X per case. Perhaps another reason why AB network ended up the buyer in each of these Sheehan Family deals so far, including ME, NH, MD/DC and NJ; MC network previously took on those individual brands at high costs.

For now, Sheehan Family still holding onto outposts in NY, MA and WI, plus VA, VT, CT and stake in KY.

Europe's Vitamin Well - most familiar to US bev watchers for its Nocco BCAA-infused energy drinks - has taken its Barebells nutritional bar brand into bev segment too with protein-rich line called Fast Food. New entry, breaking in Germany and Sweden, offers 34 g protein, 20 g of carbs, fiber, 19 grams of fat and 26 essential vitamins and minerals but no lactose or gluten. PET-bottle line is being pitched as complete meal replacement, along lines of brands like Huel and Soylent. "It is a not-at-all-ordinary breakfast, lunch or dinner, that is as convenient as it is delicious," per promo copy.

It may be sluggish time for raising growth capital but there are still too many deals happenin' for us to keep up with the flow. Here are a few recent raises worth noting.

German Soft Drink Disrupter Holy Pulls in $11M Holy, Berlin-based maker of healthier teas and energy drinks whose powdered format is pitched as key sustainability benefit, said it's raised Series A to tune of €10.5 mil ($11.5 mil) to fund expansion across Europe, including first move into UK. Round was led by Left Lane Capital, which had previously invested in bev plays like Blank Street Coffee, with participation from existing investors FoodLabs and Simon Capital (formerly Bitburger Ventures, and an investor in Waterdrop). Also in mix, per co's announcement late last week, was London-based V3 Ventures (part of family office Verlinvest) as well as Just Spices cofounder Bela Seebach, YFood founders Benjamin Kremer and Noel Bollmann, and venture arm of Hamburg-based media company OMR. The Series A brings total capital raised to date to €12.3 mil ($13.4 mil). Tho it's been difficult time to be raising growth capital, it was clear that some of participants are hoping Holy is setting on trajectory in Europe similar to fast growth that Liquid Death and Celsius enjoyed in US. "In the United States, we have seen the power of mission-driven brands like Liquid Death and 'better for you' products like Celsius winning market share from incumbents," said Left Lane managing partner Jason Fiedler. "We identified similar characteristics in the Holy brand and product that we believe has tremendous mass market potential and little competition in Europe."

Founded in 2020 by 3 friends named Frederick Jost, Philipp Nass, and Mathias Horsch who created it in their living room, Holy claims to have sold over 10 mil drinks to date, starting with nootropic-infused energy line followed by antioxidant- and fiber-enriched iced tea line. It currently is sold in Germany, France, Austria and Switzerland and has payroll of 25. Graphic treatment of cartoonish figures and bold poster colors bears similarities to Ghost supplement and energy brand in US. Website declares: "We have a clear product vision and roadmap to build a billion-dollar soft drink brand. Our goal is to challenge the outdated beverage industry. (Coca Cola, we're coming for you.)" It seems to be finding some believers so far.

Other Raises: Lyre's, GoodSport, Halfday Weekly roundup of fundraises by banker Silverwood Partners has spotted a few other deals that closed recently. Lyre's, the Australia-based colossus in alc-alternatives that claimed a valuation approaching £270 milearlier this year after just 3 years in market, closed on £18 mil ($23 mil) in new funding on Aug 21. As earlier reports in Jul had noted, deal was led by Morgan Creek Capital Management and D Squared Capital, with participation from Futurecraft Ventures and others. As Smart Company noted, that follows $16 mil in 2020 and $37 mil in 2021 . . . GoodSport Nutrition, marketer of milk-based sports drink founded in Chicago by Michelle McBride, raised $5.9 mil of venture funding from undisclosed investors on Aug 21, per Silverwood roundup. No further details from Silverwood or that we can find on our own . . . Halfday, canned line that offers "classic iced tea without the junk" (BBI, Jul 27 2021), raised $7.3 mil of venture funding from undisclosed investors on Aug 24, Silverwood reports. That's all we know on this one, too.

Just added to the Beer INSIGHTS Seminar program: Molson Coors chief commercial officer for the Americas region, Michelle St Jacques (MSJ). Nearing 9 mos into her elevated role heading co's more centralized commercial unit, MSJ will talk about MC's strong recent results, progress and plans. Join us at this year's conference Nov 12-13 in NYC, starting with our welcome reception on the evening of Nov 12 followed by a full day of content and networking Nov 13.

While Atlanta-based co initially planned to open new location in bustling brewery town, Charlotte, NC, Hippin Hops founders opted to shift plans and open a new concept dubbed "Another Brewery," according to Axios Charlotte. Another Brewery concept serves as "a neighborhood dive bar that brews its own beer," co-founder Orlando Botero told Axios. The name is "a play on the very vocal frustration many Charlotteans have for the city's growing number of breweries," article notes. Building is 3900 sq-ft including indoor and outdoor space and is expected to open in the next couple mos.

After opening in Mar 2020, just as the pandemic hit, and weathering the storm for a while, small SoCal co, Delahunt Brewing, sold to a new ownership team, reported San Clemente Times. The new ownership group consists of CEO/head brewer Miles McLennan and locally-based brewer Chris Linn, who previously worked for Laguna Beach Beer Co and Modern Times, among "several others with experience in the brewing industry, finances and operations." There's "a nice mix of practical brewery experience that we're bringing to bear," and "we're just private folks trying to make good beer and connect with our community," Miles told paper. The new team will continue to make Delahunt's core brews, a double hazy IPA, blonde ale and Italian-style pils, and Delahunt's distribution footprint will stay the same. It has two tasting rooms, and Miles and co are "very open to opening other things if that opportunity presented itself in a period of time," Miles shared.