Boston Beer Expects to Write Off Some Hard Seltzer Inventory

Posted on September 9, 2021 by Joel Whitaker

Boston Beer Co. withdrew if 2021 financial guidance and said it expects to incure hard seltzer-related inventory writeoffs, shortfall fees paid to third party brewers and other costs related to decelerating demand for hard seltzer.

The company said demand for its hard seltzer products “continues to grow at faster than category rates in measured off-premise channels” but noted that “the market for hard seltzer products has continued to experience decelerating growth trends. Industry reports have estimated that the full year 2021 volume for the hard seltzer market retail sales will have over 100 million fewer cases than the volumes estimated in May 2021 and over 30 million fewer cases than the volumes estimated in July 2021. ”

Boston Beer said it “currently expects full year 2021 earnings per diluted share will fall below the previously-reported estimate of between $18.00 and $22.00, excluding the impact of ASU 2016-09.”

Posted in Finance | Tagged , | Comments Off on Boston Beer Expects to Write Off Some Hard Seltzer Inventory

Boston Beer Launches New “Bevy Long Drink”

Posted on September 9, 2021 by Joel Whitaker

Bevy Long Drink will debt in early November, in 6-packs and 12-packs (12oz cans) and single-serve 24oz cans.  It.is inspired by the national cocktail of Finland, the “Long Drink.”  Bevy Long Drink will hit shelves in early November in two flavors: Sparkling Citrus Refresher and Sparkling Berry Refresher.

Long Drink is a traditional Finnish cocktail that traditionally consists of gin, grapefruit soda, and tonic. The drink was first created when the Finnish government commissioned a refreshing cocktail to serve guests attending the 1952 Summer Olympics in Helsinki.

While inspired by the traditional cocktail, Bevy Long Drink will be the first Long Drink-inspired beverage available in the U.S. without spirits.  Bevy Long Drink is made with an original malt base containing natural flavors and wild juniper berries.

“The Long Drink cocktail is Finland’s best-kept secret, but it’s typically made with gin. Bevy Long Drink is our signature spin on this classic,” said Lesya Lysyj, The Boston Beer Company’s Chief Marketing Officer., Boston Beer Co.  “We developed a cocktail-inspired recipe, with all the citrus flavors and wild juniper berries, and made it ready-to-drink from a can. You get all the refreshing citrus flavor without the gin. But the best part is that you don’t have to fly to Finland. You can just pick up a 6-pack at the store.”

Posted in New Products | Tagged , | Comments Off on Boston Beer Launches New “Bevy Long Drink”

Heineken Leads Beer in Brand Intimacy: Study

Posted on September 9, 2021 by Joel Whitaker

Heineken is followed by Coors (76) and Miller (97).  Surprising to us, Budweiser and other Anheuser-Busch brands are not mentioned in the study by MBLM, an agency that seeks to “build greater initmacy between people and brands that drive performance and services.”

The study found the emotional connections users have with brands have increased in the past year during the pandemic.  Brand intimacy attempts to masure how well brands foster relationships and establish trust, engagement as well as longetivity.  Consumers are willing to pay a premium for highly intimate brands compared to those with lower intimacy ratings, the study says.  During the Covid pandemic, it adds, the idea of brand intimacy has become more meaningful that ever.

What do top performers have in common?  The study identifies six factors:

  • Fulfillment — “exceeds expectations, delivering superior service, quality and efficacy.”
  • Identity — “reflects an aspirational image or admired values and beliefs that resonate deeply.”
  • Enhancement — “Customers become better through use of the brand– smarter, more capable and more connected.”
  • Ritual — “When a person ingrains a brand into his or her daily activities, it is more than just habitual behavior.  It becomes a vitally important part of daily existence.
  • Nostalgia — “focuses on memories of the pastand the warm feelings associated with them.
  • Indulgence — “creates a close relationship centered on memories of pampering and gratification that can be occasional or frequent.”
Posted in Research | Tagged , | Comments Off on Heineken Leads Beer in Brand Intimacy: Study

Clerkin Seeks to Develop Digital-First Bev/Al Brands

Posted on September 9, 2021 by Joel Whitaker

Jim Clerkin, former CEO of the Americas for Moët Hennessy and Jim Beam, and Jeff Menashe, Founder and CEO of Demeter Advisory Group, a leading investment bank to the adult beverage industry, unveiled a new company, Demeter & Co., that will launch its first brand into the U.S. market in late September 2021, introducing the UK’s leading no and low alcohol spirits brand through wholesale as well as direct-to-consumer. Clerkin and Menashe are especially excited to get out of the gate to bring the brand’s fresh take on tequila, one of the fastest growing categories in the US.

Clerkin and Menashe have a long-standing relationship that started when Menashe became M&A Advisor to Clerkin, as he looked to expand Moët Hennessy’s portfolio.

 

“Covid-19 made us all re-evaluate what really matters in life. I was locked in an apartment in New York feeling increasingly frustrated, doing a lot of thinking – whilst at the same time all these great opportunities were arriving on my desk that I couldn’t move on because I didn’t have the autonomy to do so,” explained Jim Clerkin, Co-Founder of Demeter & Co.

“As I talked to Jeff, he was the first to have the idea of doing something completely new together. We saw an immediate opportunity to mix up the industry’s approach to developing global adult beverage brands, through a digital-first lens and by celebrating the real boldness and expressiveness of their consumers.  The speed at which we can move compared to big committees and corporate organizations allows us to take a new approach that will mix up how our industry develops global brands.”

Posted in Acquisitions | Tagged , , | Comments Off on Clerkin Seeks to Develop Digital-First Bev/Al Brands

Full Tilt Brewing Marks 9/11

Posted on September 9, 2021 by Joel Whitaker

full Tilt Brewing, Baltimore, releases Patriot Pilsner to honor those who lost their lives 20 years ago during the terrorist attacks on the World Trade Center, Pentagon and one other, unknown target.

Proceeds will benefit Maryland’s Hope & Peace Foundation, which aims to raise money for their 9/11 Living Classroom War Memorial. This Rolling Memorial will serve to educate youth on this infamous day as well as remember the 69 Marylanders lost in the tragedy as well as the war that followed.

 

Posted in New Products | Tagged | Comments Off on Full Tilt Brewing Marks 9/11

Glen Grant® Announces Releases The Dennis Malcolm 60th Anniversary Edition Aged 60 Years

Posted on September 9, 2021 by Joel Whitaker

The limited edition 60-year-old single malt scotch whisky celebrates the six-decades long career of Glen Grant Distillery’s own Dennis Malcolm, known as one of Scotland’s longest serving distillers. To be released in October of this year, the limited offering is bottled from a single ex-Oloroso sherry cask (#5040) that was filled on Oct. 24th 1960 – the oldest, to date, distillery bottling in the brand’s 181-year history.  With just 360 Decanters of the liquid available worldwide you would expect it to be pricey and it is: € 25,000 ($29,529.88).

 

Posted in New Products | Tagged | Comments Off on Glen Grant® Announces Releases The Dennis Malcolm 60th Anniversary Edition Aged 60 Years