BevNET Live Winter 2023 in Marina del Rey, California kicked off hard with a spirits-themed Sunday, featuring on-stage panels and the fourth edition of the BevNET Cocktail Showdown.

📈 First up, Kaleigh Theriault, director of thought leadership for beverage alcohol, and Jon Berg, thought leadership VP for beverage alcohol at data firm Nielsen IQ, broke down the current RTD alcohol marketplace, where spirits-based products now represent $1.7 billion in annual retail sales, up by over $500 million since 2022. 

Spirits-based RTDs are now around a 16% share of the total RTD beverage alcohol set – over 500 brands representing over 2,800 available SKUs – and growing, taking away some of the space from the hard seltzer category. 

Despite the top five brands encompassing about 60% of all sales, Theriault noted that there’s “room for everybody” in this young and growing category as consumers become more familiar with their options in the market.

💰 The day’s second session saw BevNET Spirits Editor Ferron Salniker sit down with Taylor Foxman and 99 Proof Partners founding partner Mike Solow to discuss the state of investment in the spirits industry.

As many alcohol brands have shown “crazy” valuations in recent years, Solow said that investors have “a lot of options” at the moment in the space despite some overall hesitancy last year from investors across industries. As the spirits category has grown over recent years and more brands have entered the category, much of Foxman and Solow’s advice for entrepreneurs raising money rings true across categories: show that your brand can stand out and your business is sound.

🏆Closing out the day’s agenda, Ponyboy Slings rode to victory during the BevNET Cocktail Showdown in Marina Del Rey, California yesterday. 

The Louisville, Kentucky-based RTD bourbon and whiskey spritz line impressed the judging panel with strong original recipes that blend a craft approach to cocktail making with sweet, mainstream-friendly flavor profiles. 

Founded by husband and wife team Mike and Janell Bass, who are both professional bartenders, Ponyboy Slings lineup includes Bourbon Popstar, Derby Cream Soda and My Cherry Amour varieties which retail for $14.99 per 4-pack and tout 7% ABV per 12 oz. can.

Read the full recap of Spirits Sunday on BevNET

Two years after exiting hydration tablet brand Nuun following its acquisition by Nestlé Health Science, Kevin Rutherford has joined organic, gluten-free bar brand Tosi Snacks as chair of its board of directors.

In his post, Rutherford praised the product and founders Stefanie Hults and Chelsea Hults as being “obsessed with not just what they do, but how they do it. This team is expanding and is [a] best place to work.”

Rutherford cited 300% growth year-over-year.

After already securing a $6 million in February, hydration beverage brand ROAR Organics has landed another $6 million, according to a new SEC filing. Company president Bill Lange confirmed to Forbes that the new capital is a new investment calling 2023 “the highest growth year” in the company’s history.

🆕 In 2021, the brand refreshed its packaging and reformulated its products after Pennsylvania-based investment firm Factory took a majority equity stake the previous year.

⛹️ The electrolyte-infused drink brand has tried a number of products over the years including a  a powder stick product in 2019 and a superhero-themed Roar Kids launch.

🏓 Leaning into its replenishing properties the beverage company has sponsored the Professional Pickleball Association as its Official Hydrating Partner.

Brands around the industry have been making gains in retail. Here’s some recent highlights!

🤓 Nootropic energy drink brand NERD Focus is now available in 153 QuickChek convenience stores in New Jersey and New York.

🐰 Delta-9 THC seltzer brand Rebel Rabbit High Seltzer is expanding into 1,000 locations across 10 states, adding Connecticut, Georgia, Iowa, Massachusetts, Minnesota, New Jersey, Ohio, Pennsylvania, Tennessee, and Wisconsin.

👋🏼 Sparkling adaptogenic beverage brand heywell has added Wegmans, Marianos, Harmon’s and Heinen’s grocery stores while also tripling its online sales via Amazon since March.

💧 The newly opened Sphere entertainment venue in Las Vegas has named aluminum bottled water brand PATH as its exclusive unflavored still water provider.

🐻 Cold brew coffee maker Wandering Bear is now nationwide in Sprouts stores with three multi-serve SKUs: Straight Black, Vanilla and Decaf.

🫖 The Ryl Company has brought its canned teas into Kroger stores in Louisville, Kentucky.

🍋 Sanzo is now available in Jewel-Osco stores in Chicago, according to founder and CEO Sandro Roco.

🍸 De Soi, the non-alc aperitif brand backed by Katy Perry, is now available at Target with an exclusive, limited edition four-flavor sampler pack.