American Beverage (AB), Washington, D.C., announced that Kevin W. Keane, a longtime member of the beverage industry’s leadership team, has been named its new president and chief executive officer. Keane will provide day-to-day leadership and management of the industry trade group to advance its strategic priorities, working in close partnership with AB’s full team and the AB Board leadership.
“It is an honor to lead the trade association for iconic American companies deeply dedicated to the people and communities they serve across the country and globe,” Keane said in a statement. “I am equally proud to lead a dynamic and talented AB team that continually sets a high bar addressing public affairs issues in a collaborative and substantive manner for our members.
“Having worked in the beverage industry for nearly 20 years, I know how hard our companies strive to be a unifying force in helping address public policy issues that people care about in ways that matter to them,” he continued. “Their unwavering commitment to better way solutions to tough challenges delivers meaningful results that lift communities and bring people together. We look forward to helping build an even stronger future.”
Keane has served as president and CEO on an interim basis since his predecessor, Katherine Lugar, departed in March for Hilton as executive vice president of corporate affairs.
“Kevin has an exceptional depth of knowledge and experience to bring to bear in this role, and we are fortunate to have his leadership and insights to guide the association,” said Matthew Dent, Chair of the AB Board of Directors and president and CEO of Buffalo Rock Co., a longtime Pepsi bottling operation based in Birmingham, Ala.
“Throughout his time at American Beverage we have made great strides in areas Americans care about including improving our environmental sustainability practices, promoting balanced lifestyles and advancing our broader leadership efforts,” Dent continued. “We look forward to Kevin’s continued leadership as our new president and CEO of American Beverage.”
Keane has served on the leadership team of American Beverage since 2005 and has overseen a wide range of industry initiatives while managing a team in Washington, D.C., and in states across the country. Prior to his appointment as president and CEO, Keane served as executive vice president of the Government and Public Affairs Department for the association. BI
American Beverage announces Kevin Keane as president, CEO
Tilray Brands Inc., New York, announced that the company has entered into a definitive agreement to acquire eight beer and beverage brands from Anheuser-Busch, St. Louis.
Upon satisfaction of customary closing conditions, Tilray will acquire Shock Top, Breckenridge Brewery, Blue Point Brewing Co., 10 Barrel Brewing Co., Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Co. and HiBall Energy. The transaction includes current employees, breweries and brewpubs associated with these brands. The purchase price will be paid in all cash and the transaction is expected to close in 2023.
These beers and beverage brands possess the hallmarks of strong consumer loyalty and further diversify Tilray’s growing U.S. beverage alcohol segment. The expected sales volume of the acquired brands will elevate Tilray Brands to the fifth largest craft beer business position in the United States, up from the ninth, with current brands SweetWater Brewing Co., Montauk Brewing Co., Alpine Beer Co. and Green Flash Brewing Co. Tilray Brands also owns Breckenridge Distillery, the award-winning spirits brand and the World’s Best Blended Whisky, and Happy Flower CBD sparkling non-alcohol cocktails.
Irwin D. Simon, chairman and CEO at Tilray Brands, said: “Today’s announcement both solidifies our national leadership position and share in the U.S. craft brewing market and marks a major step forward in our diversification strategy. We are excited to work with the teams behind these iconic brands that command great consumer loyalty and have a history of delivering strong award-winning products with tremendous growth opportunities. Tilray is fully committed to invest in and champion the future of the U.S. craft beer industry by fueling new innovation that excites and further accelerates the growth of its consumer base.”
Simon continued: “Leveraging the deep CPG expertise of Tilray’s leadership team and acquisition integration track record, we intend to drive both revenue and cost synergies, while significantly expanding national distribution to coveted markets across the U.S. and internationally. In a matter of three years, Tilray has solidified its leadership position in the craft beer industry, and we fully intend to be that change agent that reinvigorates the sector. Upon federal cannabis legalization, we expect to leverage our leadership position, wide distribution network and portfolio of beloved beverage and wellness brands to include THC-based products and maximize all commercial opportunities.” BI
Tilray Brands to acquire 8 beer, beverage brands from Anheuser-Busch
Republic National Distributing Company (RNDC), Grand Prairie, Texas, and its eCommerce platform, eRNDC, announced key performance results from the first half of 2023, including record-breaking sales, and customer adoptions, expansion to new states and the launch of a reimagined online experience for sales associates, customers and suppliers. eRNDC continues to report strong year-over-year growth, reaching $1.3 billion in total sales since the platform’s launch in 2019. This growth is largely attributed to exponential rates of platform adoption from new and existing RNDC customers, the company says. Only halfway through 2023, eRNDC is already able to report 50% year-over-year revenue growth, as well as a 97% increase in customer login activity, it notes. Additionally, eRNDC has successfully expanded to five new states in the first half of 2023: California, Washington, Oregon, Arizona and Hawaii and now offers digital access and 24/7 sales support to customers in 19 states and Washington D.C. The eRNDC user experience varies by region to account for local licensing requirements, regional insights and consumption trends, as well as product availability.
Yerbaé Brands Corp., Scottsdale, Ariz., a plant-based energy beverage company, announced a successful closure of the first tranche of its celebrity investment round, raising approximately $4 million (the “Initial Tranche”). The company also announced the formation of its new Sports & Entertainment Board. This collaboration underscores the company’s growth and brings together a dynamic group of athletes and entertainers who share a passion for promoting a healthy and active lifestyle, while advancing Yerbaé’s commitment to providing healthier energy beverages to its consumers, it says. “We are excited to embark on this incredible journey with our exceptional Sports & Entertainment Board members,” said Todd Gibson, CEO and Co-Founder of Yerbaé, in a statement. “Their dedication to wellness and performance perfectly aligns with our brand’s values. By working together, we aim to create products and experiences that resonate with our consumers on a deeper level.”
Watershed Distillery, Columbus, Ohio, and Marussia Beverages USA, a producer and importer of premium craft spirits and wines, announced that Marussia Beverages USA has acquired Watershed Distillery, making the Columbus-based maker of award winning bourbons, gins, vodka and specialty spirits a valuable part of the group’s focused and premium portfolio. Watershed Distillery was founded in 2010 by two friends and has become the producer of a top-selling Ohio made bourbon and gin portfolios. During the past 13 years, the brand has become a renowned producer in the craft spirits world with a primary focus on growing its home market of Ohio, while adding distribution in six other states. Greg Lehman, Watershed’s founder, will continue to oversee all operations. All production will remain in Columbus with expansion in Central Ohio expected. Watershed Kitchen + Bar will continue to be a place for the community to gather, the company says.
REDCON1, Boca Raton, Fla., announced the addition of Gene Bukovi. A seasoned veteran in the energy drink industry, Bukovi played a pivotal role in elevating BANG to a market valuation of more than $3 billion and annual retail sales surpassing $1.3 billion, the company says. “Leadership can be described in many ways,” Bukovi said in a statement. “My commitment to Aaron and the REDCON1 Team is to accelerate our growth in beverages and to realize our full potential at the Highest State of Readiness.”