• 💧 Waterdrop Aces Partnership With World Tennis Athletes
• 🎯 Spirits: How To Become An Attractive Investment Target
• 🏆 Biddii Baby Foods Wins Steltenpohl Visionary Award
• 🔖 What We Are Reading

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With no official word from the leading adult non-alc retailer regarding rumors of its closing, the NA industry has scrambled for answers about the future of an important retail partner. Here’s what we know so far:

Boisson is shutting down retail outlets and is “restructuring,” according to the founder of one NA brand that was informed of the news by a former Boisson employee. 

That checks out at least for now, as Google listings for a total of eight stores in New York, Los Angeles and Miami have been marked “temporarily closed” and at least one branch in L.A. is reportedly emptied out and shut. 

Several non-alc brand founders that we spoke to have heard nothing official from the company, with at least one waiting on payment and unsure of what will happen to her inventory. 

In a post on LinkedIn this morning, Jill Sites, vice president of wholesale at Boisson, said “I cannot comment (yet) on the rumors of my current company,” but referenced “things” said Tuesday in an unnamed trade group by a “competitor” of Boisson as “patently untrue,” with more information to come.

But in the meantime, the industry has begun to speculate on what happened: were the eight stores (many in high rent areas) feeling the squeeze as non-alc makes its way into larger outlets? The company had recently announced a more focused effort on distribution, will the closure include the wholesale arm too or is there a larger pivot coming? 

Read the full story on BevNET.

Austrian hydration brand waterdrop has enlisted six globally-ranked tennis stars as both brand ambassadors and investors; the company simultaneously announced the close of a new funding round, but did not disclose terms or the total sum. Launched in 2016, waterdrop last pulled in $70 million from a Series B in 2022.

🤝 Waterdrop has also been named an official partner of the Association of Tennis Players and the Women’s Tennis Association. The vitamin-infused, micro-drink is comfortable courtside – it was also the Official Hydration Partner of the 2023 ATP Tour and garnered angel investment from tennis champion Novak Djokovic.  

🎾 The hydration brand first brought on tennis phenom Taylor Fritz as an ambassador in 2022. Fritz has become an investor along with other professional competitors Elina Svitolina, Sebastian Korda, Andrey Rublev, Hubert Hurkacz and Cameron Norrie.

🛒 The brand is currently available in over 20,000 retailers worldwide with more than 5,000 doors in the U.S. including partnerships with Target, Walmart and others. The company has experimented with branded storefronts to further its mission of plastic-free hydration.

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What makes a spirit company a compelling acquisition target? At the latest DISCUS conference we heard from the experts, including Michelle Ivey, COO of Ilegal Mezcal – recently acquired by Bacardi – and Robert Furniss Roe, CEO & co-founder of Samson & Surrey, which was acquired by Heaven Hill, as well as other industry stakeholders. Here are the top takeaways:

📚 A compelling brand story that breaks through the noise might sound obvious, but when many companies contract out their production, the brand is what the strategics are buying. A 30-second story that can be memorable is key, said Dan Gasper; other panelists stressed the importance of protecting IP early on. 

🚚 Going narrow over wide was the distribution consensus, but how do brands show they can scale? Create clear levers to produce volume at one account, and then validate that learning in other cities, said one panelist. 

🥃 Brands should also be aware that a quick exit is unlikely, and investors are looking for founders who are passionate about being in it for the long haul. 

Read the full story on BevNET.

During the wild rush of Natural Products Expo West last month, New Hope Network announced Biddii Baby Foods, an indigenous baby food brand operating in the Navajo Nation, as the winner of the 2024 Greg Steltenpohl Pragmatic Visionary Award.

✊🏽 The Steltenpohl Award is named for Odwalla and Califia Farms founder Greg Steltenpohl, who died in 2021, and honors brands and entrepreneurs focused on making a positive social and environmental impact with plant-based products. Biddii is the second winner of the award, following last year’s inaugural recipient SIMPLi.

👶🏽 Founded in 2021, Biddii’s baby food line features Indigenous recipes made with dried steamed corn. The company also works to support Indigenous farmers.

🌽 The $75,000 grand prize was awarded to husband and wife co-founders Zachariah and Mary Ben during the trade show in Anaheim, California last month. Superfood rice brand Jasberry received a runner-up prize of $25,000.

The internet has been abuzz with a wide array of food and beverage discussion this week from the dominance of functional beverages to the shady private labeling practices of Trader Joe’s. Here’s a look at what we’ve been digging into:

From The Atlantic, “I Just Want A Normal Drink”: This one reads almost like a plea. Author Yasmin Tayag seems to believe functional drink makers have innovated too far –  “who asked for seltzer with ashwagandha?” – and charts the evolution of the beverage+ set alongside protein bars and snacks.

From The Washington Post, “As Obesity Rises, Big Food and dieticians push ‘anti-diet’ advice”: A recent investigation by the WaPo and The Examination revealed that General Mills’ ‘anti-diet’ crusade has funded at least seven scientific studies since 2019 designed around promoting cereal as healthy and spent more than $2 million in 2022 and 2023 lobbying the federal government.