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BevnetOctober 10, 2023
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🫶 After Family Tragedy, Equitea Founder Has New Mission

🫶 After Family Tragedy, Equitea Founder Has New Mission

On April 12 this year, Quentin Vennie, the founder and CEO of tea brand Equitea, experienced one of the most painful losses any parent can suffer: his 17-year-old son Christian died from an accidental fentanyl overdose.

Vennie had been working to build his startup tea brand since 2020, but with Christian’s unexpected deat, he initially wasn’t sure how to move ahead. However, he said, with widespread support from the CPG community and a better understanding of his own grief, Vennie says that Equitea is now charging ahead with a new purpose: to honor Christian’s memory and to raise awareness of the opioid epidemic that has ravaged the nation.

The first step was relatively simple to accomplish, but also deeply meaningful: the brand updated the label on its Black Tea Lemonade flavor, Christian’s favorite, to include a message about his death and included a QR code linking to a webpage with more information about his life.

Vennie’s still trying to figure out the next steps. He said he wants Equitea to partner with nonprofit organizations specializing in raising awareness and combating fentanyl poisoning and the opioid epidemic. The company is working to create an annual event called Equitea Cares that will connect people who have lost family members to overdoses and focus on healing as a community. He said he has already heard from therapists who are able to volunteer their time to speak to attendees and is looking to introduce sessions on yoga, meditation, drinking tea and other mindful practices.

By speaking out about his experience, and his son’s life and death, he hopes Christian’s memory can be a force for change and warn others about the very real dangers of the ongoing crisis.

“The worst thing to do during grief is to grieve alone and to shut people out,” he said. “If we can come together, even through our own trauma and our own pain, but work collectively and collaboratively as a community to heal from it, then I think we opened up that door of opportunity for growth.”

Read the full story on BevNET.

 

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🔵 Pepsi: Q3 Volume Still Down, Revenue Up

Despite declining volumes, Pepsi delivered organic revenue growth of +8.8% and a +6.7% increase in net sales during Q3, per its quarterly earnings report released this morning. 

Here’s a look at the performance of Pepsi Beverages North America

  • Organic revenue growth fell to +6% from +13% in the same period last year. Revenue is +9% year-to-date. 
  • However volume declined 6% during the quarter and is down 4.5% year-to-date. 
  • Operating profit was +22% in the segment in Q3. 
  • Gatorade delivered "double-digit" revenue growth, supported by mid-single-digit net revenue growth for both Pepsi and LIFE WTR, according to the company. 
  • During the Q&A segment, CEO Ramon Laguarta acknowledged being “a bit more aggressive” with volume optimization has come at the cost of profits in some cases, noting a cutback in packaged water promos aimed at curtailing that trend.
 

🚚 Coke: No Plans to be Bev-Alc Distributor, Co. Tells NBWA

🚚 Coke: No Plans to be Bev-Alc Distributor, Co. Tells NBWA

The Coca-Cola Company is “not here to crash [beer distributors’] party,” Dan White, Coca-Cola, North America chief of new revenue streams, said in a fireside chat with National Beer Wholesaler Association (NBWA) president and CEO Craig Purser Monday during the NBWA’s annual convention.

“We believe very much in the three-tier system,” he said, noting the lasting effects of a pandemic-driven shift towards consumers enjoying beverages at home and drinking more ready-to-drink canned cocktails

Coca-Cola’s competitor PepsiCo has faced criticism from the NBWA for its use of its own entity, Blue Cloud Distribution, over independent beer wholesalers for distribution of its bev-alc products, including Hard MTN Dew (made with Boston Beer Company) and Lipton Hard Iced Tea (made with FIFCO USA).

Read the full story on BevNET

 

🌱 Sati CBD Soda Goes Organic

CBD and energy soda brand Sati has received a USDA Organic seal, making it among the only CBD-infused sodas to receive the certification.

  • CEO and founder David McLaughlin said in an email that the brand now aims to target organic sets and coolers in retail stores as a means of growing the business.
  • He’s also urging more retailers to add organic sections, including conventional grocery and convenience stores: “The stores that first adapt this Organic section will be pioneers in the space that is absolutely the future.”
  • As the brand grows, McLaughlin said Sati is taking shelf space formerly held by soda brands like Blue Sky and Hansen’s.

The company is now working on an equity crowdfunding campaign through Wefunder.

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