PepsiCo Inc., Purchase, N.Y., published its most recent Global Diversity, Equity and Inclusion (DE&I) Report, illustrating actions that are driving equity and further embedding pep+ into the organization. Key accomplishments include making progress on gender parity in management globally, maintaining pay equity, while supporting historically marginalized communities around the world. To help ensure the report can be read and understood by all communities, PepsiCo included content by video and audio in addition to a written report.

As a result of progress in DE&I, PepsiCo has been recognized in rankings such as Fortune’s World’s Most Admired Companies, Seramount’s Top Companies for Executive Women, Diversity Inc.’s Top Companies for Diversity, and Disability Equality Index’s Best Places to Work for Disability Inclusion, the company says.

“At PepsiCo, Diversity, Equity, and Inclusion are more than just words ― they are the backbone of who we are and a key pillar of our pep+ journey,” said Ramon Laguarta, PepsiCo’s Chairman and CEO in a statement. “We are committed to driving the principles deep into all aspects of our business and giving everyone the tools, training and resources to ensure we are all doing our part.”

The latest DE&I Report shared progress across the company’s three strategic pillars:

A space for people to be themselves

• PepsiCo is advancing gender parity in managerial roles globally, with progress currently at 44% and trending toward the goal of 50% by 2025.
• Black and Hispanic representation in the United States increased at the managerial level to 9% and 10.1%, respectively.

A space for business partners to grow

• PepsiCo continues to spend more than $1 billion annually with diverse suppliers ― contributing to an overall spend of nearly $30 billion across PepsiCo’s value chain during the past 40 years of its Supplier Diversity program.
• Through 2022, the company supported nearly 1,000 Black-owned and Hispanic-owned businesses through innovative platforms, including the PepsiCo Foundation's Black Restaurant Accelerator program and PepsiCo Juntos Crecemos, which offer coaching, marketing, online presence support and delivery logistics.

A space for communities to thrive

• Unlocking opportunities and cultivating future talent through the Rania Rizk Young Arab Women Leaders Scholarship program.
• Meeting the needs of local communities by leveraging employee time and talents to help indigenous people succeed.

“Our rich legacy of DE&I serves as a compass that guides our actions, and this year’s report is a testament to our continued evolution,” said Tina Bigalke, PepsiCo’s global chief diversity, equity and inclusion officer, in a statement. “While there’s more work to be done, we remain committed to our journey and to harnessing the power and passion of the change makers in this report ― all of whom are united in their efforts to build a more equitable workplace and society.” BI

PepsiCo releases 2022 Global DE&I Report

The founders of Funky Buddha Brewery — Ryan and KC Sentz — are reacquiring their Oakland Park, Fla.-based business from Constellation Brands, Victor, N.Y. Both the Sentzs and Constellation agreed that now is the ideal time for the original owners to reclaim control of the company and focus on beverage innovation, new consumer experiences, and additional product lines.

Its flagship beer portfolio, including Floridian and Hop Gun, will remain available for distribution, and the founders are excited to introduce new products, it says.

“Beverage innovation has always been our biggest strength, and Ryan and his team have some incredible ideas in the pipeline,” said KC Sentz, owner and co-founder of Funky Buddha Brewery, in a statement. “As we approach our 10th anniversary, it seems like the perfect time for our business to evolve and reignite the community’s passion for craft beverages.”

From traditional styles to experimental ales, Funky Buddha makes beers that create an experience, celebrate being different, and always keep things funky. The brand was acquired by Constellation Brands in 2017 and has had a successful partnership that expanded the brand’s distribution.

“We enjoyed working with Constellation and we learned a lot from them. As we embark on the next chapter, we plan to push boundaries and create entirely new drinking experiences in beer and beyond,” added Ryan Sentz, owner and co-founder of Funky Buddha Brewery. “We’ll be serving good vibes on tap for many years to come.” BI

Funky Buddha Brewery reacquires company from Constellation Brands

Bacardi Ltd., Hamilton, Bermuda, announced the appointment of Alicia Enciso to the company’s Board of Directors. Enciso brings more than 30 years of experience with multinational Fortune 100 companies in the food and beverages sectors with roles as general manager, president, chief marketing officer, — and E-business officer. Since 2017, she has served as chief marketing officer of Nestlé USA and previously served as president of the beverages division. She recently announced her retirement from Nestlé.

Jones Soda Co., Seattle, announced that Ronald Dissinger was appointed by the company’s board of directors to serve as a director on the Board until the company’s next annual meeting of stockholders. “Ron is a global financial executive who brings extensive experience in the CPG industry to the table, having served in financial leadership roles with Kellogg Company both domestically and internationally,” stated Paul Norman Chairman of the Board. “He has deep and broad knowledge of business operations and has provided strategic financial leadership and direction across all aspects of the business, including M&A.”

Los Angeles-based Chamberlain Coffee, the brainchild of YouTube phenomenon Emma Chamberlain, announced a $7 million fundraise. Since its inception, the brand has grown to touch multiple product categories, including its latest and most innovative launch in the ready-to-drink (RTD) space. This fundraise will not only further innovation efforts, helping to expand within the RTD category, but also allow to meet customers wherever they are with plans for national retail expansion, the company says. The funding round is led by key existing investors including venture builder Blazar Capital, founder and investor Emma Chamberlain, and United Talent Agency. These previous investors are now joined by growth equity firm Volition Capital who has backed countless brands with cult followings, Electric Feel Ventures, next-generation beverage accelerator L.A. Libations and Noah Bremen, founder of PLTFRM.

Hercules Mulligan, New York, will be available in more than 40 markets across the United States. The distribution network has been built through independent local brand-building distributors combined with strong regional partners such as RNDC, Martignetti and Empire, it says. The ready-to-serve brand is experiencing a surge in sales, with year-on-year volume growth of 168%, it adds. “We built a solid fan following nationally with consumers via DTC, and we're excited to now leverage our national awareness by expanding to over 40 U.S. markets,” said Steve Luttmann, Hercules Mulligan co-founder and spirits industry veteran, in a statement. “We are also honored to be a consumer-supported brand, having raised over $3 million online via our enthusiastic base of 2,000 consumer-investors, as well as some very prominent investors from the industry.”

Los Angeles-based G.O.A.T. Fuel, the health-forward energy drink from Pro Football Hall of Famer and renowned NFL G.O.A.T. Jerry Rice, announced closing on its initial Series Seed round of financing, which was oversubscribed and raised $5 million, putting total funds raised since launching in 2020 during the pandemic at $12 million. The Series Seed financing round was led in conjunction by Stage 1 Fund and Morrison Seger Venture Capital Partners, with past investors in the company including former owner of the San Francisco 49ers, Eddie DeBartolo Jr., serial entrepreneur and owner of the Minnesota Timberwolves, Marc Lore, and co-founder Jerry Rice.