Also Bronx-based DSD acquires fellow New York distributor͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 
 
 
BevnetDecember 11, 2023
DAILY BRIEFING: LITE EDITION
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👉🏼 What You Need to Know 👈🏼

🤔 BioSteel’s New Owner to Report on Financials, Seeks Feedback on NHL

🤔 BioSteel’s New Owner to Report on Financials, Seeks Feedback on NHL

BioSteel’s new owner is crowdsourcing advice on how to proceed with the brand’s NHL partnership. Coachwood Capital founder Dan Crosby, who picked up BioSteel following Canopy Growth’s court-supervised sale last month, teased on LinkedIn this weekend that he would release a financial update on the brand’s performance as soon as today while also asking his followers for input on how the company should approach the sports drink’s premier league partnership.

🏒 BioSteel was named the Official Sports Drink of the National Hockey League (NHL) in 2022 – a fitting partnership for a brand that was originally created by hockey players.

🗣️ Feedback in the comments to Crosby’s post came from a number of CPG executives and athletes, and it varied in perspective from the negative (“[Y]ou have maximized that partnership to the point of diminishing returns”) to the optimistic (“I think young hockey players like imitating their favourite players so the visibility is a positive”).

💸 Le’Mae Reeves, a former logistics specialist at Canopy Growth, offered some inside perspective, noting that she was responsible for sending out and picking up beverages and merchandise at each NHL stadium. While she said players “loved” the drink, the deal was “not efficient” and excessive merch, such as tote bags, led to excessive shipping costs for the brand.

 

🤝 Bronx-Based DSD Strengthens Position With Acquisition

GlacierPoint Enterprises has acquired Bronx, New York-based specialty distributor Cool River Beverages LLC expanding its portfolio in beverages throughout the metro New York City area. Also headquartered in the Bronx, GlacierPoint (a portfolio company of Mill Point Capital) is a DSD distributor of Dreyer’s Grand Ice Cream and Unilever Ice Cream.

🧃Cool River, which operates as an exclusive distributor of Nestlé products, expands Glacier’s beverage portfolio and brings scale to the DSD’s reach in the Northeast.

💪 GlacierPoint already distributes Alani Nu, Chameleon Coffee, HUEL, Soylent and Nesquik while Cool River recently signed on energy brand NERD Focus as a partner in June.

 

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