Keurig Dr Pepper invests in Athletic Brewing

Keurig Dr Pepper Inc. (KDP), Burlington, Mass., and Frisco, Texas, announced a minority stake in Athletic Brewing Co., a leading non-alcohol craft beer maker. The transaction represents KDP’s latest move into rapidly emerging beverage categories, following its acquisition of non-alcohol ready-to-drink cocktail brand Atypique.

The $50 million investment by KDP provides the company with an equity stake in Athletic Brewing that is comparable to other lead investors, namely TRB Advisors and Alliance Consumer Growth. KDP will have a seat on the company’s Board of Directors. Further terms of the deal were not disclosed.

Athletic Brewing was founded in 2017 by Bill Shufelt and John Walker and is a Top 20 U.S. craft brewer, according to Nielsen data. In 2022, Athletic Brewing was ranked as the 26th fastest-growing private company in America by Inc. Magazine and also was named to Time Magazine’s “100 Most Influential Companies” list.

Non-alcohol beer in the United States grew almost 20% in retail dollars over the past year, based on NielsenIQ Scan Off-Premise Channels data for the 52 weeks ending Aug. 20. The craft segment, where Athletic Brewing holds a 55% market share, has outpaced total category growth, the company notes. Athletic Brewing has a lineup of more than 40 brews.

Non-alcohol beer accounts for over 85% of total sales in the fast-growing category of non-alcohol beer, wine and spirits, based on NielsenIQ data.

“Athletic Brewing is a winning brand in a rapidly growing beverage segment. Our investment reflects our interest and ability to move into exciting white spaces, including in the blurring of the alcoholic and non-alcoholic categories” said Keurig Dr Pepper Executive Chairman Bob Gamgort in a statement. “We look forward to partnering with the Athletic Brewing team to help them scale the business.”

Shufelt added: “We’re thrilled to welcome Keurig Dr Pepper as an investor and strategic partner. Their team brings a tremendous amount of expertise and truly embraces our mission of brewing great-tasting non-alcoholic beers that are fit for all times. This investment will enable Athletic Brewing to further accelerate our growth across North America.” BI

Southern Glazer’s Wine & Spirits, Miami and Dallas, announced that Bill Edwards, senior vice president of national accounts of on-premise, will be leaving the company, effective Jan. 1, 2023, to add value to a Southern Glazer’s supplier partner, leveraging his vast industry expertise and experience. Edwards will support his team’s transition for future growth following the announcement of a long-planned National Accounts restructuring. “Bill’s top-notch leadership has successfully positioned Southern Glazer’s as the distributor partner of choice in the on-premise channel,” said Chris Williams, executive vice president of national accounts at Southern Glazer’s, in a statement. “He is a true innovator in the beverage alcohol space and we’re thankful for the strong foundation he’s built for our national accounts business.” An announcement for Edwards’ replacement will be forthcoming. Edwards will work closely with his successor to ensure a seamless transition.

E. & J. Gallo Winery acquires Denner Vineyards

E. & J. Gallo Winery (Gallo), Modesto, Calif., announced that it has purchased Denner Vineyards, producer of critically acclaimed wines from California’s Central Coast. Located in the Willow Creek District of Paso Robles, the Denner Vineyards Estate, which was completed in 2005, includes a tasting room and a gravity-flow winery designed to fit into the rolling hillside of the surrounding vineyards.

Ron Denner first planted vines on the Willow Creek Vineyard in 1999 and later acquired the Adelaida Vineyard, located in the Adelaida District, which was planted in 2013.

“From planting my first few acres in 1999 to building Denner Vineyards to what it is today, I have been incredibly blessed with the opportunity to bring this winery to life in one of California’s best winegrowing regions,”Denner said in a statement. “Gallo is a family company with a commitment to quality. I have no doubt they will be good stewards of the land and preserve our legacy of creating sought-after wines and offering best-in-class winery experiences.”

Joseph C. Gallo, vice president and general manager of Gallo’s luxury wine business, added: “For 20 years, Ron Denner has stayed true to the land and his vision to produce great wines from the acclaimed Paso Robles region, cultivating an authentic, diverse portfolio. We look forward to drawing inspiration from and working with Ron and winemaker Anthony Yount.”

Denner Vineyards is best known for its proprietary red blends, Rhône and Bordeaux varietal wines that range from $50 to $80 and have consistently received critical acclaim, with Dirt Worshipper featured twice on Wine Spectator’s Top 100 list, the company says. The acquisition includes the Denner brand, the Winery and estate vineyards.

Zepponi & Company served as the exclusive financial advisor to Denner Vineyards. Terms of the agreement were not disclosed. BI

To meet the growing global demand for Bang Energy, CEO Jack Owoc has partnered with Global Brands, Ltd. to distribute Bang Energy in the U.K. and Ireland. “In order to deliver innovation at the speed that today’s consumer demands and at the blistering pace at which Bang innovates, a decentralized, highly responsive and ultra-flexible DSD model is critical,” Owoc says. Julian Atkins, global brands commercial director, added: “We are really excited to be the exclusive distributor for Bang Energy here in the U.K. and Ireland. Bang Energy brings something quite different to an energy category that is currently enjoying strong growth ― a brand that is full of flavor despite having zero sugar, zero carbs, and zero calories across an awesome range of flavors. Bang Energy is sure to be a huge success with the Gen Z consumer here in the U.K. and Ireland.”

Pickle Juice, Mesquite, Texas, announced its expansion in Wegmans Food Markets. Wegmans is a family-owned regional supermarket chain with 107 stores, offering more than 50,000 products. The 2.5-ounce shots of Pickle Juice now are available in 100 Wegmans stores across the northeastern region of the United States. “Our expansion in Wegmans is extremely important to us, and we believe it will provide the community with greater accessibility to Pickle Juice,” said Executive Vice President, Filip Keuppens, in a statement.

Napa Valley’s biodynamic winegrowing pioneer Mark Neal is pleased to announce that his Howell Mountain estate winery, Neal Family Vineyards, has achieved Regenerative Organic Certified as recognized by the Regenerative Organic Alliance (ROA). The ROA was established in 2018 and is today considered the highest level of certification. There are only five vineyard estates worldwide that hold Regenerative Organic Certified status and Neal Family Vineyards now represents the first Napa Valley vineyard to receive this certification, according to the company.