Who & What —

Posted on April 3, 2022 by Joel Whitaker

Ranch Rider Spirits, the first company to put a pure Ranch Water cocktail in a can, taps R\West for public relations.  ,

Posted in Who and What | Comments Off on Who & What —

Mississippi Conferees Agree on New ABC Warehouse

Posted on April 3, 2022 by Joel Whitaker

Both chambers of the Mississippi Legislature must now approve the measure before sending to the governor for signature.

The bill authorizes the state to build a new warehouse will be operated by a third-party contractor.  “The Mississippi ABC has continued to serve the consumer and licensees to the best of its ability despite enduring longstanding logistical complications related to its warehouse operations,” said David Wojnar, Distilled Spirits Council of the United States Senior VP-Head of State Public Policy.

“Creation of a new warehouse under SB 2844 will provide the ABC with the resources needed to reach its full potential and better serve hospitality businesses and consumers throughout the state. We commend the Senate and House conferees for coming to an agreement that will help modernize the current system and make it more efficient and consumer-friendly. We also commend the Mississippi ABC for continuing to seek solutions that put consumers first.”

Posted in Expansion, Uncategorized | Tagged , | Comments Off on Mississippi Conferees Agree on New ABC Warehouse

Fresh Vine Wine Sales, Loss Soar in Year

Posted on March 31, 2022 by Joel Whitaker

Fresh Vine Wine reports annual revenue grew 681% to $1.7 million from $217 million in 2020.  The Company reported a net loss of $9.97 million for fiscal 2021, compared to a net loss of $1.29 million in fiscal 2020.

Revenue growth was attributed to an increased presence in the wholesale market, where we significantly expanded our distributor network and geographic presence, and the introduction of our wine club, which drove direct-to-consumer sales. Of total 2021 revenue, $773,000 was from our wholesale distribution channel and $774,000 was from our direct-to-consumer sales channel.

Posted in Earnings Report | Tagged | Comments Off on Fresh Vine Wine Sales, Loss Soar in Year

CGA Sees Flavored Spirits Growing in 2022

Posted on March 31, 2022 by Joel Whitaker

Flavored expressions account for less than 20% of all Whiskey sales in the U.S., but with flavored vodkas accounting for more than 20% of all Vodka sold in bar and restaurants, and flavored rum accounting for nearly a third of all rum sales, CGA sees the opportunity for flavors to gain this year.

Similar to Vodka drinkers’ preferences, “berry” was the most popular cocktail flavor among U.S. consumers in 2019, followed by “fruity and sweet” aromas in second position, and “citrus” in third.  “Spicy” flavors saw the biggest uplift in popularity (+2.6%) over the past two years. Incorporating spicy vodka into a Bloody Mary offering could be an appealing option for many and also help operators cater to earlier daypart demand, CGA predicts.

“In the US, spirits such as Whiskey, Vodka, and Rum are critical components of a successful On Premise beverage program. Brands and operators can tap into American consumers’ favorite flavors in spirits and mixed drinks to maximize the potential of these flourishing categories,” said Andrew Hummel, client solutions manager – Americas.

 

Posted in Research, Sales, Spirits | Tagged | Comments Off on CGA Sees Flavored Spirits Growing in 2022

Beer Inventories a Bit High as Hard Seltzer Continues Slide

Posted on March 31, 2022 by Joel Whitaker

It’s like good — well, maybe not quite so good — old times in the beer industry.  The National Beer Wholesalers Association‘s Beer Purchasers Index for March stands at 52 and an “at risk” inventory of 56.

“Both numbers are reminiscent of the days when inventories were a little too high, and purchase order index was typically at or below 50 ” NBWA said, adding the March 2022 total beer reading of 52 is about average for this time of year with slightly more ordering ahead of spring holiday beer occasions.

The dramatic drop in the FMB/seltzer BPI continues, falling to 42 in March 2022 from 85 in March 2021. The import segment was the only segment to report a significant expansionary index in March with the premium lights index slightly above 50.

  • The index for imports continues to remain in expansion territory with a reading of 67 in March 2022, slightly higher than the March 2021 reading of 60.
  • The craft index at 47 is close to matching last March’s reading of 46.
  • The premium lights index posted a higher reading of 51, above the March 2021 reading of 44.
  • The premium regular segment index is at 39, which is slightly below the March 2021 reading of 38.
  • The below premium segment is at 41, which is slightly above the March 2021 reading of 37.
  • The FMB/seltzer category took another big hit, falling to 42 in March 2022 from the March 2021 reading of 85.
  • Finally, the cider segment remains below 50 with a reading of 36 in March 2022, compared to the March 2021 reading of 36.
Posted in beer | Comments Off on Beer Inventories a Bit High as Hard Seltzer Continues Slide

Splash Beverage Sales Soar 139% in 2021, Net Loss Widens a Bit

Posted on March 31, 2022 by Joel Whitaker

Splash Beverage Group reports net revenue of $11.3 million in 2021 vs. $2.3 million a year earlier.  Non-cash compensation of $12.8 million, up from $2.3 million a year earlier, was principally responsible for the company’s net loss growing to $29.1 million from $28.7 million.

“Our 2021 full year results include all the impact of costs incurred during the process of becoming a public company,” Robert Nistico, CEO, said,  “including significant non-cash charges like stock-based compensation. We finished the year with more than $4 million in cash and less than $1 million of long-term liabilities. And, I’d like to note that our $8 million equity raise conducted in Q1 2022 further strengthened the healthy balance sheet that Splash achieved as we closed the 2021 fiscal year.”

He said “2021 was a very important year of execution for Splash Beverage Group, and as a result we are a significantly stronger and experiencing rapid growth. On June 11, 2021, Splash completed a $15 million (gross proceeds) public offering and uplisted our shares (SBEV) onto the NYSE American. That transaction provided us with funding which we used to execute our business plan over the balance of 2021 and beyond. Over the course of the second half of 2021, we announced new or expanded distribution agreements with 4 major beverage distributors leading up to the transformative agreement we secured in November with InBev’s AB ONE, owner of Budweiser, to distribute TapouT, Copa di Vino and Pulpoloco. We believe that announcement created the foundation to open the door to more than 13 additional distribution agreements and key retail authorizations such as Walmart. We are now activating those agreements and securing merchandising support and shelf placement for our brands in 31 states. All 13 of these agreements took effect in the new year so we expect the impact from these agreements to be felt as 2022 progresses, especially on TapouT sales.”

“During the last two years dealing with COVID, we continued to organize distribution and manage the long sales cycles of national and regional retail chains. This has allowed us to begin to execute as we now have a distribution platform in place. With the launch of TapouT, we expect its revenue contribution to increase.”

Posted in Earnings Report | Tagged | Comments Off on Splash Beverage Sales Soar 139% in 2021, Net Loss Widens a Bit