Monster Beverage has named Hilton H. Schlosberg, who's served as CFO at the company for 23 years, as co-CEO. Thomas J. Kelly, executive vice president of finance, has been tapped to replace Schlosberg as CFO.
KiiTO has rebranded as Vast to expand its appeal beyond the keto market. The functional protein beverage brand is planning to double its retail footprint this year, and has revised SKU names to resonate more with mainstream consumers, said Kendall Dreyer, Vast co-founder and chief sales officer.
Electra Beverages founder and former WNBA player Fran Harris secured a deal with Barbara Corcoran on Shark Tank last week for $100,000 in exchange for 30% equity. The deal is contingent upon the startup fitness brand recruiting a celebrity athlete as an investor.
PepsiCo's Super Bowl activation campaign will include deploying drones to drop Pepsi-branded "homegating" supplies to residents of Tampa, Fl., where the game will be held Feb. 7. The brand is also supporting Tampa-area restaurants with more than $100,000 in grants via the National Restaurant Association Educational Foundation.
Global digital ad spending will increase 18% from 2020 to 2021 and continue double-digit growth during the next five years with video leading the charge, according to Cowen's 9th annual Ad Outlook report. Most of the ad buyers surveyed (56%) say video ads are as or more effective than TV for branding and rank Google search as the top platform for their return on investment.
An update on discount grocer Save A Lot's turnaround efforts and Post's new snack line based on two cereal brands made this week's Top 10 list. Ben & Jerry's new dessert for dogs and Pepsi's Super Bowl advertising game plan also interested SmartBrief's food and beverage readers.
Now you can follow the ABA on Twitter! We keep you updated daily on the latest beverage industry news and bring you the information you need. Follow us today @Ameribev.
A summary in Thursday's issue of ABA SmartBrief should have stated that PepsiCo's 2040 target carbon neutrality goal is 10 years earlier than the Paris Agreement requirements. PepsiCo did not issue a carbon neutrality goal for 2050. SmartBrief regrets the error.
SmartBrief will not publish Monday
In observance of Martin Luther King Jr. Day in the US, SmartBrief will not publish Monday. Publication will resume Tuesday.
Connect deeply with others. Our humanity is the one thing that we all have in common.
Melinda Gates, philanthropist, advocate for women and girls