JuneShine is growing its presence in the hard kombucha space through M&A: the San Diego-based brewer and canned cocktail maker announced yesterday it will acquire Flying Embers in an all-stock transaction, bringing the combined companies’ market share to well over half the entire category. 

🛍️ The deal is an asset purchase agreement for the Flying Embers brand, trademarks and distribution rights (parent company Fermented Sciences and the company’s production facility are not included) in exchange for stock in JuneShine. The deal is expected to close later this week.

🙋‍♂️ As part of the acquisition, Flying Embers co-founder and CEO Bill Moses will join JuneShine’s board of directors, which includes Dein, JuneShine co-founder and CEO Greg Serrao and two other large investors. 

📶 JuneShine and Flying Embers combined will account for 63% of all hard kombucha sold in the U.S., according to Dein. The combined portfolio will exceed 116,000 barrels and 1.6 million cases.

🗣️ “It really levels us up in that top list of breweries in the country and gets us very The opportunity Dein and Serrao see is to be Southern California’s affordable light beer brand in the $15.99 to $16.99 range for a 12-pack,” Dein said.

Read the full story on BevNET.

As it continues to expand its reach across channels, THC-infused drink Cann is adding some seasoned industry operators to its team, with Travis Tharp and Nick Fasano named the brand’s new Chief Operating Officer and Chief Revenue Officer, respectively. 

🚗 Fasano was previously at cannabis delivery platform Eaze, while Tharp was president and CEO of infused beverage brand Keef Brands.

📈 Per a press release, Fasano will “drive national expansion through traditional social beverage retailers and the adult-use cannabis ecosystem,” while Tharp will be “responsible for scaling Cann’s operations in order to meet the rapid growth.”

🗣️ “As demand for Cann skyrockets, we are extremely fortunate to have two industry veterans joining the team to professionalize the company and meet the moment,” said Jake Bullock, Cann’s Co-Founder & CEO.

Go Deeper: Jake Bullock Talks Hemp D9, Cannabis Beverages At BevNET Live

Heading to Anaheim next week? Check out Nosh’s Unofficial Guide to Expo West, beginning with this handy, letter-perfect primer that is equal parts educational and entertaining. Whether you’re a rookie or a regular, make sure to master the lingo before your plane touches down at LAX (while you wish you had opted to fly into John Wayne).

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