• 🕵️ Recapping BevNET Live Winter
• 🥃 Campari Says ‘Pass the Courvoisier’
• 9️⃣ Nine Banded Whiskey Banks $10M

We’ve been feeling some exits were potentially in the air before year’s end, and we’ve been proven correct: this morning, Chobani announced it has paid $900 million to acquire Philadelphia-based roaster and retailer La Colombe, a move that puts some significant financial muscle and operational expertise behind the Greek yogurt and dairy brand’s coffee category ambitions. 

Why does this pairing make sense? For one, the relationships are already built: Chobani founder Hamdi Ulukaya joined La Colombe as its sole investor back in 2015, and the coffee roaster had for years quietly been Chobani’s supplier for its since-discontinued cold brew products. 

But the crown jewel for La Colombe is its RTD business, which stretches across single-serve cans and refrigerated multiserve formats and is backed by a $300 million distribution pact with Keurig Dr Pepper, the coffee maker’s second largest shareholder (33.3%). Part of that money was earmarked to “pay off debt,” an issue that now appears moot.

After a prodigious period of innovation, Chobani also seems to be narrowing its focus on specific high-growth areas, such as coffee, and pulling away from others, like ultra-filtered dairy milk. It also means officially welcoming one of legacy CPG’s big players to the cap table: with KDP converting its La Colombe shares to Chobani, the soda giant now has a presence in multiple refrigerated categories including yogurt and coffee creamers. Could bigger synergies be in play? Also, will the additional revenue from La Colombe help Ulukaya finally pull off his long-wished-for Chobani IPO?

As for today, it’s way too early to know what the convergence of these three brands will actually mean; per the announcement, La Colombe will continue to operate as an independent entity, and the KDP agreement means there shouldn’t be any hiccups in distribution during the corporate transition. For now, we’ll raise a cup of coffee (with creamer, of course) and wait for more developments.

Whether you were in attendance in Marina Del Rey or not, there was more than enough FOMO to go around during BevNET Live Winter 2023 earlier this month. We know – between panel discussions on top trends, case-study deep dives, unpacking data and all that network, it was a lot. Not to worry, though, as we’ve pulled together a handful of the must-see sessions for you to rewatch this weekend. 

Building A Pipeline for Black-Owned Spirits: Jomaree Pinkard, founder of Hella Cocktail Co. and CEO and managing director of Pronghorn, discussed building a template for category disruption in spirit for minority founders. Watch the playback here.

Innovation Through Portfolio Expansion: Harmless Harvest CEO Ben Mand walks us through his company’s approach to innovation, diving into how the coconut water maker successfully added yogurt alternatives and smoothies and how trial and error was key to that strategy. Watch the playback here.

The State of the Market: It’s no secret the economy is in a hard spot for businesses. A panel of industry experts discussed the current state of the CPG industry and what brands need to do to stay ahead. Watch the playback here.

Retailer Profile - Inside Albertson’s: Leaders at the second largest supermarket chain in the country dive into what entrepreneurial brands need to do to succeed in their stores. Watch the playback here.

What do Bridgerton-inspired coffee creamers and chai cranberry-flavored sparkling waters have in common? They’re both featured in the latest edition of BevNET’s Friday New Products Gallery. 

👑 International Delight has gone royal with its latest limited edition collection. Making its on-shelf debut at the end of the holiday season, the Bridgerton-themed line features Berries & Crème Creamer, English Toffee Creamer and Iced Coffee Berries & Crème.

❄️ Just in time for the ho, ho, holidays, Aura Bora has brought back its Chai Cranberry flavor. Like the rest of the brand’s varieties, the seasonal product is crafted with herbs, fruits and flowers and contains zero calories and zero sugar.

​​🥤 Cali Sober is hoping to make a name for itself in the increasingly saturated cannabis-infused beverage market with its new line of THC mocktails comprised of Paloma Spritz, Ranch Water and Berry Ginger Fizz flavors. 

See the full gallery on BevNET. 

Echoing the immortal words of Busta Rhymes, Campari said “pass the Courvoisier” yesterday. The Italian spirits group made its biggest acquisition yet by purchasing the cognac brand from Beam Suntory for an initial $1.2 billion. 

📈 Campari has gone in on premiumization in the U.S. since it purchased Wild Turkey in 2009, now it's adding cognac as the fourth major leg of the Campari Group along with aperitifs, bourbon and tequila. 

🗳️ As we reported earlier this year, Campari made moves to increase shareholders’ voting rights in August, carving a path toward making a big acquisition of a brand with a major U.S. presence. While analysts expected that it might be tequila, Campari has instead decided to go with one of the four major players that dominate the cognac category. 

🌏 With the U.S. and China representing the biggest markets for the category, Campari is banking on finding growth opportunities in Asia and leveraging its investments in aged brown spirits in the U.S. It’ll have to turn around what has been a rough come-down for Cognac after peaking during the pandemic.

Read the full story on BevNET

Austin-based Nine Banded Whiskey has landed a $10M series A fundraise led by No Sleep Beverage, an investment and operating group founded by spirits veteran Nick Papanicolaou.

Founded in 2016, Nine Banded Whiskey launched its Texas bourbons in 2019, aiming to embody Austin’s lifestyle as part of its brand. 

👷‍♂️ The investment will enable growth and expansion as well as pave the way for a future tasting room and brand home. “The development of a tasting room will bring together our friends from the spirits, music and culinary scene, in a new brick and mortar space for the entire Nine Banded family to enjoy," said the founders in a statement.  

😴 Papanicolaou is the former head of mergers and acquisitions at Pernod Ricard USA and where he also launched the New Brand Ventures department for the global company. Now, No Sleep Beverage is focused on “emerging brands that embrace culture and transcend boundaries.” The company closed its fundraising in April 2023 and within eight months invested in four other brands: Barr Hill Gin, Solento Tequila, Juliet Wine, and Soley Beverage.