Sprecher Brewing acquires Juvee

Sprecher Brewing Co. CEO Sharad Chadha announced its expansion into the energy drink category with the purchase of Juvee from global gaming and lifestyle brand 100 Thieves.

Short for rejuvenation, the brand was launched in 2022 by 100 Thieves CEO Matthew “Nadeshot” Haag and co-founder Sam Keene.

Over the past year, Juvee has grown revenues by 400%, driven mostly by the dedicated community they’ve built online, it says.

According to Chadha, “This is another exciting step for our company, which started in 1985 as a craft-brewery, expanded into an award-winning soda producer, and since 2020, has added five other soda brands and an all-natural category. It continues our company’s aggressive growth strategy. The energy drink category is hugely popular, and when we connected with Juvee’s co-founders, it quickly became apparent that this was the perfect brand for us to enter into this competitive space.”

Juvee’s current employees also will become part of the Sprecher team. Keene will assume the position of chief marketing officer for the entire family of Sprecher beverages including all of its craft beers and craft sodas, Green River soda, Black Bear soda, Caruso soda, Olde Brooklyn soda, WBC soda, Juvee, and the Ooh La Lemin Lemonade brand, which Sprecher acquired in October 2023.

Keene said: “We’ve experienced incredible growth since Juvee’s launch and this acquisition will help the brand reach more of our passionate consumers, while also introducing them to the full family of Sprecher beverages. I’m thrilled for Juvee to find a new home at Sprecher and ready to bring the same energy to the company’s marketing team.”

John Robinson, 100 Thieves president and chief operating officer, said, “Juvee had an incredible first year as a part of 100 Thieves and we’re excited that they’ve found a new home and partner in Sprecher that will enable them to reach new heights.”

As part of the acquisition, Juvee’s production, bottling, and warehousing will be moved to Sprecher’s headquarters in Greater Milwaukee. BI

Coca-Cola Leader Lab helps address issues facing foodservice

The Coca-Cola Co., Atlanta, announced the launch of Coca-Cola Leader Lab, a people-centric leadership program that addresses a significant issue facing the future of foodservice: attracting, developing and retaining an engaged frontline workforce.

Labor challenges, particularly the high turnover rates of frontline service employees, continue to be primary concerns of the foodservice industry. According to the most recent National Restaurant Association survey on restaurant business conditions, more than six in 10 restaurants are understaffed and 79% of operators say their restaurant currently has job openings that are difficult to fill. Although wages continue to be a driving factor in attracting talent, 70% of the variance in frontline employee engagement and performance is attributed entirely to frontline managers, according to a 2022 Gallup Workplace study

Coca-Cola saw a tangible opportunity to support its foodservice and on-premise partners in solving this issue.

“No single foodservice brand can fix this problem on their own. As more of Gen Z enters the workforce and steps into leadership roles, the entire industry needs to think about how they are attracting and developing their current and future frontline talent,” said Dagmar Boggs, Coca-Cola’s president of foodservice and on-premise for North America, in a statement. “As a total business partner dedicated to helping our customers grow their brands, Coca-Cola is uniquely positioned to provide an industry-wide solution that will help equip and transform our current and future foodservice leaders.”

Through actionable, video-driven content, Coca-Cola Leader Lab helps develop frontline people-leaders by giving them the skills they need to grow in their careers and help others grow in theirs. The program is hosted on an easy-to-navigate website, and its quick-hitting, “bingeable” video modules account for the minimal margin of time foodservice employees have for additional training. BI

Yerbaé Brands Corp., Scottsdale, Ariz., announced a significant expansion in its distribution channels through a strategic partnership with Pick n Save, a Midwest supermarket chain owned by Kroger. In another noteworthy development with Kroger, Yerbaé's products have been officially authorized by Pick n Save for distribution across all locations. The authorization with Pick n Save expands Yerbaé's retail footprint, providing increased accessibility for consumers across Wisconsin. “We are thrilled to announce our partnership with Pick n Save. This strategic alliance not only enables us to introduce Yerbaé's plant-based beverages to a wider audience throughout the entire state of Wisconsin but also enhances Yerbaé’s increasing demand in the Midwest marketplace,” said Seth Smith, vice president sales of Yerbaé Plant-Based Energy, in a statement.

Vintage Wine Estates Inc., Incline Village, Nev., announced that it is restructuring the business by seeking to monetize certain assets and exit certain non-core, lower margin product and service offerings. As a result, the company will reduce its workforce by approximately 15% for expected annualized savings of $7.1 million. Restructuring charges for the actions are expected to be approximately $1.5 million, which will be reflected in the third quarter of fiscal 2024, which ends March 31, 2024. The company plans to simplify its DTC operations to concentrate resources on certain Super Premium-plus estate wineries. VWE also plans to monetize its Clos Pegase winery and tasting room in Napa and its Viansa property in Sonoma. It also will look to wind down certain custom crush and business-to-business services while evaluating its array of production services businesses and the contributions of each.

NIQ and Databricks have joined forces to unveil a Supply Chain Solution to transform the retail landscape, they says. The Supply Chain Solution is built on the Databricks Data Intelligence Platform and allows real-time collaboration, unlike on-premise solutions that rely on outdated information. The initiative targets critical pain points historically plaguing the retail industry across supply chain processes. Beginning with modernizing the demand forecasting process, this solution focuses on elevating accuracy and efficiency, the companies note. The approach involves adopting generative AI techniques, promising an enhancement of forecasting accuracy by an average of 10% to help retailers lower carrying costs, maintain fewer out of stocks and have less markdowns, they say. “Our relationship with Databricks represents a pivotal moment in advancing retail technology to enable collaboration between retailers and supply partners,” said Jamie Clarke, head of North America retail at NIQ. “By combining NIQ’s unrivaled data capabilities and leading retail platform, Connect/Discover, with the Supply Chain Solution, alongside the expertise of Databricks, we’re committed to revolutionizing how retailers harness data to drive innovation, achieve sustainable growth, and drive true collaboration.”

Hensley Beverage Co., Phoenix, announced key changes within its senior leadership team. Andy McCain, currently president and chief operating officer (COO), has been appointed president and CEO, effective immediately. Additionally, Omar Perez, Hensley’s chief financial officer, will assume the additional responsibility of chief operating officer, reporting directly to McCain. McCain joined Hensley in 1996 and has served in various leadership positions throughout his tenure, including chief financial officer. Since 2016, he has successfully led the company as president and COO, navigating Hensley through significant challenges, including the COVID-19 pandemic. “Andy’s leadership during these unprecedented times has been exceptional,” said Bob Delgado, Chairman of the Hensley Board of Directors, in a statement. “His poise, confidence, and strategic acumen have earned him the right to lead Hensley as CEO, and I have complete faith in his ability to drive our continued success.”