Athletic Brewing's $50-mil minority stake from Keurig Dr Pepper came at valuation of "just under $500 million," with sales up nearly 70% in 2022 to over $60 mil in revs, per lengthy Forbes cover story (subscription) profiling the NA beer darling. Implies KDP got slightly above 10% equity in previously unidentified stake. Plus "heady valuation" of ~8x revenue, according to "sources close to the deal." But recall, no pre-ordained path to ownership, even as KDP gets seat on Athletic's board and "right of first offer" in a liquidity event. And Athletic still yet to turn a profit, expecting to be cash-flow positive by end of yr (see Nov 9 issue).

Anticipated makeover of Hydrive Energy Water has happened, with brand owned by Big Red dropping straight-wall bottle for curvy, more contemporary pack while going from mid-calorie formulation of 30 calories per serving all the way to zero. Relaunch hitting shelves this month works to make brand "light, refreshing and flavorful," using natural flavors and added B vitamins, tho entry still contains artificial preservatives and coloring agents, with sucralose and ace-K forming sweetener blend. It's hitting shelves in range of 4 flavors: Black Cherry, Blue Raspberry, Triple Berry and Citrus Burst. As noted when Austin-based co first disclosed its plans last spring (BBI, May 27), dropping straight-wall pack gets brand out of promotional morass of similar packs that have come along behind Sparkling Ice and its knockoffs since Hydrive first adopted pack as an indie brand from Inov8 Beverages, the incubator led by Mike Weinstein and Brian O'Byrne. And with brightly colored liquid too often mistaken for sports drink, color palette has been lightened up. New version "provides health-conscious consumers with the flavor and function they want without the calories and sugar that they don't," per marketing svp Thomas Oh. Flavor house Allen Flavors assisted. Hydrive Energy Water, which contains significant payload of 160 mg of caffeine, goes out at $1.89 - 2.29 per bottle at retail chains such as Walmart, Kroger, HyVee, Casey's General Store, QuikTrip and Kum & Go. Info at HydriveEnergy.com.

Analysis of consumption patterns among youth ages 2-19 in the US from 2011-2014 found 64.5% of boys and 61.3% of girls "consumed at least 1 sugar-sweetened beverage on a given day," reported Centers for Disease Control & Prevention's Natl Center for Health Statistics. They found around 30% drank 2 or more sugary drinks daily. For boys, 11.5% consumed 3+ a day compared to 9.5% of girls. Overall it was found youth "consumed an average 7.3% of their daily total calories from sugar-sweetened beverages." As boys/girls aged within this range they were found to increase their calorie intake from sugared bevs. These bevs contributed around 4% of total calories for boys/girls aged 2-5, but was over 9% of total calories ages 12-19.

How far can a bev brand extend? Hint Essence Water is putting that to test with launch of sunscreen spray that, like core water, banishes bad-for-you ingredients but offers vibrant flavor as enticement. Hint Sunscreen Spray, with FDA-certified SPF rating of 30, boasts of excluding oxybenzone and parabens from formula, playing toward hi end of segment at $24 per 6-oz bottle. It reps interesting departure for SF-based co that, aside from some lip balms, has never played in anything but unsweetened water, in still, sparkling and caffeinated versions. Still, personal care is segment that's been successfully plied by other water brands, notably Pepsi's tap-water brand Aquafina, which has built extensive array of lip balms, bath salt and moisturizers.

All Market, parent of Vita Coco Coconut Water, has retained JP Morgan to shop co, with potential of $1 bil exit, Reuters reported today, citing 3 unnamed sources. Co, which counts Stella Artois family office Verlinvest and Red Bull marketer in China as key investors, has long moved its distribution in core US market thru Dr Pepper Snapple Group, prompting speculation on what exit avenues would be open should DPS itself not decide to purchase brand. It's possible, particularly in wake of DPS' move to acquire another partner brand, Bai, for $1.7 bil, that Vita Coco has concluded this is good time to feel out market and potentially put pressure on DPS to make move to retain brand, factor that seems to have been critical in Bai getting its deal. Earlier transaction to sell 25% of All Market to Red Bull marketer, Reignwood, in 2014 valued co at $665 mil. Brand has continued to grow since then, tho it has to contend with rival brands' promotional strategies and private-label brands that have begun to tilt segment back to commodity status.

DSD house Big Geyser, whose lack of refrigeration capability has kept it out of fast-growing kombucha segment, is getting in game with pickup of shelf-stable, plastic-bottle brand called B-Tea Kombucha for its territory in NY metro. Tho shelf-stable, brand is claimed to be raw as well as organic, and is offered in 8-oz and 16-oz bottles in range of 8 flavors: Original, Green Tea, Lemon Balm, Tranquility with Aloe Vera, Serenity with Chamomile, Original with Ginger, Lemonade and Chili Cleanser. Based in Fair Lawn, NJ, brand has been using brand mgmt services of another NJ co, Ramsey-based Cascadia Managing Brands, whose principals Bob and Bill Sipper had earlier brought brands like Zico Coconut Water and Hint Essence Water to Big Geyser. (Early in their career, the Sipper brothers competed vs Big Geyser, when their father Fred's Mootch & Muck vied vs what was then called Crystal Geyser East.) B-Tea plugs gap in portfolio of Big Geyser, which has rejected move into refrigerated delivery for now on grounds it's got its hands full with promising shelf-stable brands like Monster Energy, Sparkling Ice, Essentia and Core waters and Body Armor sports drinks. "Big Geyser is the single strongest distributor in their territories and we are proud to join some of their other incredibly successful brands," said B-Tea mgg dir Michael Tseytin. Tho shelf-stable kombuchas historically have not had great impact in US, Big Geyser move comes not long after tea and spice marketer Harris Freeman has placed bet on segment with its acquisition of longtime player Kombucha Wonder Drink (BBI, Jan 24). Brand info at BTBeverage.com.

PepsiCo is turning upcoming Super Bowl sponsorship into platform for flagging pair of its zero-calorie brands: now-launching Smartwater challenger Lifewtr and restaged diet CSD brand now called Pepsi Zero Sugar. Mix of activities will include 30-second spot behind Lifewtr featuring music from John Legend and halftime extravaganza headlined by Lady Gaga that's branded as Pepsi Zero Sugar Super Bowl LI Halftime Show. Effort is meant to make a statement about PEP's ongoing efforts to "transform our product lineup to offer beverage choices for every consumer lifestyle and occasion," per cmo Seth Kaufman. As co has previously indicated, Lifewtr is going artsy in its activation, tying into rotating cast of creative types by featuring their art on labels, intro'd by Bowl ad showing a city transformed by storm that turns everything the rain touches into art from first series tapped for labels. Legend's "Love Me Now" provides soundtrack. As on-site activation in Houston, PepsiCo is teaming with Club Nomadic traveling night club to host "Art After Dark" headlined by Bruno Mars the Fri before kickoff. PEP will use event to also highlight its 1893 craft-ish soda in bourbon cocktails poured in what co describes as speakeasy-style lounge that will transport guests to "an elevated time." Not least, co will sample Mtn Dew Kickstart's new Raspberry Citrus and Mango Lime flavors at NFL Experience.

Suja Juice has taken the exclusives game with retailers to a new level: for its new coconut-based drinking vinegars, it's divvied up different flavors among 3 different retailers who've shown some love for the core apple-vinegar sku's. At Suja booth at this week's Fancy Food Show in SF, San Diego-based co was pouring 4 new flavors of the coconut-sap-based sku it launched a few months ago, which bring the advantage over apple vinegar of lighter, more approachable flavor without sacrificing nutritional benefits. They're made from fermented coconut sap, booth staffer said. They go out at $2.99 per 13.5-oz bottle, she said.