Coca-Cola acquires remaining stake in BODYARMOR

The Coca-Cola Co., Atlanta, announced that it has acquired full ownership of BODYARMOR, a line of sports performance and hydration beverages that is incremental to the Coca-Cola beverage portfolio and has significant potential for long-term growth. In 2018, Coca-Cola initially acquired a 15% stake in BODYARMOR with a path to full ownership, based on a pre-determined discount. Coca-Cola is paying $5.6 billion in cash for the remaining 85% of the company.

BODYARMOR will be managed as a separate business within Coca-Cola’s North America operating unit and will continue to be based in New York. Under a separate consulting and transition-services agreement, the executive leadership team, including Co-founder and Chairman Mike Repole and President Brent Hastie, has agreed to continue to work to maintain the brand’s successful momentum in the market. They are committed to executing BODYARMOR’s 2022 plan and working on vision and strategy for 2023 and beyond.

Whitestone, N.Y.-based BODYARMOR will continue to be distributed by the U.S. Coca-Cola bottling system. When Coca-Cola made its initial investment in 2018, BODYARMOR gained access to the Coca-Cola system, which enabled BODYARMOR to accelerate its growth to meet explosive consumer demand for premium sports and hydration beverages. BODYARMOR is currently the No. 2 sports drink in the category in measured retail channels, growing at about 50% to drive more than $1.4 billion in retail sales, the company says.

“BODYARMOR has been a great addition to the system lineup over the last three years, and the company has driven continuous innovation in hydration and health-and-wellness products,” said Alfredo Rivera, president of the North America operating unit of The Coca-Cola Co., in a statement. “We’re excited to bring BODYARMOR into The Coca-Cola Co. and work with Mike Repole and his leadership team on the next stage of growth.”

As part of the agreement, Coca-Cola and Repole also will collaborate on the company’s still beverages portfolio, including marketing, packaging and innovation strategies across multiple brands. BI

Two Roots Beverage Co., San Diego, announced its partnership to provide non-alcohol beer for Truss Beverage Co.’s newly launched brand: Bedfellows Liquid Arts. The partnership brings Canadian consumers of legal age, carefully crafted cannabis beverages and takes a uniquely collaborative approach to drive innovation, combining the best products across North America, according to the company. “Now more than ever, consumers are looking for alternative adult beverage options to socialize and relax,” said Maikel van de Mortel, chief marketing and revenue officer at Two Roots Beverage Co., in a statement. “Like Truss, we are dedicated in our pursuit to deliver a premium beverage experience, which has resulted in the winning of many prestigious national and international awards for our portfolio of brands. We’re excited to be part of Truss’ journey to bring their first collaborative cannabis beverages to Canada.” Truss Beverage Co. is a joint venture between Molson Coors Canada and HEXO Corp., formed to lead innovation in the development of non-alcohol, cannabis-beverages for the Canadian market.

La Colombe Coffee Roasters deepens relationship with Whole Foods Market

Philadelphia-based La Colombe announced growth with Whole Foods Market Inc., Austin, Texas, which launches the brand into the national spotlight as a key relationship for the retailer, the company says.

La Colombe will provide the coffee and training for cafés in several Whole Foods Market regions, including Rocky Mountain and North Atlantic. Additionally, two “Friends of Whole Foods Market” locations, which are owned and operated by La Colombe, will open within two Whole Foods Market flagship locations this year ― one on North Lamar Boulevard in Austin, Texas, and another in the Bowery neighborhood of New York City. This comes on the heels of securing national distribution of roasted coffee in all Whole Foods Market locations across the country, the company notes.

“The La Colombe and Whole Foods Market relationship goes back more than 20 years when the retailer carried us as a local coffee roaster in the Mid-Atlantic region,” said Chuck Chupein, president of La Colombe, in a statement. “In more recent years, they were a true early adopter to our Draft Latte product, and we are now the No. 1 ready-to-drink brand in the set. We could not be more excited to expand our relationship.”

This fall, La Colombe will open its first “Friends of Whole Foods Market” café, which will be located in the Whole Foods Market North Lamar Boulevard store in Austin, making it La Colombe's first Texas location. Following the opening of the Austin location, La Colombe will expand its New York City footprint, with a “Friends of Whole Foods Market” café and roastery in the Bowery neighborhood. This will be La Colombe's ninth New York City location, and first New York City roastery, the company says.

The “Friends of Whole Foods Market” also provides innovative businesses and entrepreneurs an opportunity to establish independent retail spaces inside its stores, it adds. BI

Phillips Distilling Co., Princeton, Minn., entered into an agreement to acquire 100% ownership of Leroux and Kamora from Beam Suntory adding them to its long-established cordials and liqueurs collection. “The consumption of cordials and liqueurs in the United States continues to grow steadily and Phillips Distilling has always been at the forefront of innovation in this category,” said Andy England, CEO of Phillips Distilling Co., in a statement. “Acquiring Leroux and Kamora is a natural fit for what we do best. We’re exceptional at differentiating flavor profiles and running small batches and changeovers that are critical to being successful in cordials and liqueurs. With our history and expertise in this category, this new acquisition will solidify our position as a market leader and gives us a fresh perspective to add to our expert blending and flavors teams.”

PepsiCo launches Digital Hubs in Dallas, Barcelona

PepsiCo Inc., Purchase, N.Y., announced the establishment of the company's first two Digital Hubs in North America and Europe, with plans to expand to more locations in the future. These hubs, located in Dallas and Barcelona, Spain, are expected to create more than 500 new, high-caliber data and digital jobs during the next three years, bringing additional opportunity to the regions. By creating state-of-the-art spaces designed for real-time collaboration, the talent and capabilities housed in these Digital Hubs will drive PepsiCo's digitalization agenda and create a strong, global digital delivery network, the company says.

The Dallas-based hub will support the development of global solutions with a primary focus on meeting the needs of the company’s North America-based businesses: PepsiCo Foods North America and PepsiCo Beverages North America. The hub in Barcelona will serve as a Center of Excellence for PepsiCo Global Digitalization priority programs. Together, the hubs will accelerate the way PepsiCo develops, centralizes and deploys critical digital capabilities, such as near instant, holistic, predictive analytics and ecosystem engagement across its global operations, it states.

“Our Digital Hubs will support PepsiCo’s efforts to be an even faster, stronger and better company,” said Athina Kanioura, chief strategy and transformation officer for PepsiCo, in a statement. “By creating an agile and dedicated environment where innovation will thrive, our talent will have the opportunity to lead work that will reach global scale and have a significant impact for PepsiCo for many years to come.”

These capabilities move the company closer to a future vision where customers will have improved access to real-time sales and inventory data; consumers will benefit from consistent product availability at the right place, right time and right price; and employees will utilize predictive decision-making tools, giving them the ability to manage more complexity with enhanced efficiency, the company says. BI

Seattle-based Jones Soda Co. announced a key expansion of its retail footprint with the addition of 210 Meijer stores in six Midwest states. The agreement adds a new marquee regional retailer to Jones Soda’s portfolio, it says. All 210 Meijer stores involved in the agreement are carrying Jones Soda’s Top 5 flavors: Berry Lemonade, Cream Soda, Green Apple, Orange and Root Beer. More than one-third also are stocking Blue Bubble Gum Soda, Watermelon Soda and the company’s limited-edition series of Special Release flavors that change twice a year.

Southern Glazer's Wine & Spirits, Miami and Dallas, appointed Michael Jeffrey to the role of executive vice president and general manager of Southern Glazer’s Wine & Spirits of Colorado. Jeffrey now reports to Mike McLaughlin, president for the Central Region, and will be responsible for leading and executing the company’s strategic business initiatives in the state.