More strong results from a top spirits co, go figure. Brown-Forman revs grew 11% in US thru fiscal 1st half ending Oct, co reported. Net revs also up 11% globally thru 6 mos, leading co to raise full-year guidance. Growth in US driven by "volumetric gains, favorable mix, and higher pricing across the portfolio," it highlighted, pointing specifically to continued growth of Woodford Reserve and Jack Daniel's Tennessee Whiskey. Brown-Forman's 19% increase on ad spending globally was "driven by increased investment" in US, co added. Then too, Brown-Forman RTD portfolio up 14% globally thru 1st half. Recall, Jack & Coke RTDs launched in Mexico in Nov and hits US plus Canada and parts of Europe in 2023 along with new zero-sugar version. So no impact on fiscal 1st half trends.

This wk, judge at US Dist Ct in NY tossed proposed class action lawsuit filed against Boston Beer and 3 execs late last yr, alleging false and misleading statements that artificially inflated stock price before tumble in fall 2021. Ain't enough there there, judge determined, agreeing with Boston that plaintiffs failed to show how a series of statements by execs materially misrepresented facts. Decision provides plenty of useful reminders about investment risks, broadly, and the importance of cautionary language around forward-looking statements.

Tho ABI hauled in multiple mktg awards this yr, "the next frontier, the next challenge that we're putting to ourselves, is to become best in class in digital integration," global cmo Marcel Marcondes told Adweek. ABI named Creative Marketer of the Year at Cannes, top advertiser by mktg intelligence firm WARC and most effective marketer by Effie Worldwide. But as mktg becomes more about efficiency, co's main mktg priority is strengthening digital operations, article notes.

Voss Water appears to have implemented an extensive layoff late last week, including its entire trade development team and key acct staff, from what we've heard from several sources. Move may presage abandonment of DSD distribution in favor of reliance on broadliners KeHe and UNFI and foodservice distribs like Sysco, we've been told. Magnitude of cuts couldn't be ascertained, and ceo Glenn Hartman hasn't responded to query we made yesterday. In past few years, Norwegian import brand has churned thru several ceo's, begun to sell some water that's sourced in US not Norway, and seen many of most senior sales execs move on to rivals like Nirvana Springs. Meanwhile, investor/endorser Dwayne "The Rock" Johnson and investor John Shulman have turned most of their attention to different project, Zoa Energy, launched via Molson Coors wholesaler network. "Big mistake. At the end of the day it's Dasani in a Voss bottle," said one ex-exec who worries that DSD exit could put brand in downward spiral

"Hundreds of jobs will be eliminated" at PepsiCo's North American hq, Wall Street Journal reported last evening. In memo sent to staff (viewed by WSJ) co said layoffs were intended "to simplify the organization so we can operate more efficiently." Report notes that "cuts will be heavier" among bev biz staff based in Purchase, NY as the snacks/pkgd foods unit (based in Chicago and Plano, Texas) has already trimmed costs with a voluntary retirement program. WSJ reminded that PEP execs said in Oct they would be looking to cut costs "to offset the pressure on profit margins and to weather what appeared to be worsening macroeconomic conditions."

Altmilk player Malk Organics said it reeled in over $9 mil in its Series B round, led by Benvolio Group and Rotor Capital. Austin-based co will use proceeds to boost marketing, expand team and build out retail presence for its oat and almond entries that already spans Whole Foods, Sprouts and Fresh Thyme and will add Publix early next year. Malk, recall, was among early altmilk players to make commitment not to use gums, fillers or oils, influencing some established brands to reformulate their entries. "Simply made, nothing to hide" is mantra. Malk had raised $7.9 mil in Jul 2020, per Crunchbase tally. Benvolio, recall, was among investors in Body Armor. Rotor has invested in Recess, Beyond Meat, Aviator Gin and Juul.

Quentin Vennie has had hard road, beyond the hurdles faced by typical Black man, navigating panic disorder, overcoming addiction to anxiety medication, 2 failed suicide attempts. So when one of his children was diagnosed with ADHD, he embarked on crusade to alleviate the boy's suffering and landed on green tea as highly effective cure. "I didn't want my son to experience the same trials and tribulations that I did," he told BevNet Live crowd today. Thanks to the green tea regimen, his son went from struggling in class to honor roll, spot he's since maintained. Concluding that many commercially available green teas were of inferior quality and poor-tasting, he set out to create a blend that might be palatable to other 9-year-old kids for whom it could be an alternative to medications like Adderall and Ritalin. The result was a loose tea called Equitea that's "prioritizing mental health one sip at a time," per website. At today's BevNet Live conference, Vennie took the stage with a mystery guest who turned out to be his key collaborator in venture: the actress and health entrepreneur Gywneth Paltrow. The botanical blends have been available on Paltrow's Goop ecomm platform and partners are just venturing out into RTD space with 12-oz canned line.

Bud Light and Top Rank, the leader in boxing promotions, announced they have renewed and expanded their sponsorship agreement. Bud Light will continue as official beer sponsor and will also be Top Rank's exclusive hard seltzer as well. "New elements" of deal include "creation of a custom ringside seating area for distinguished guests, brand integrations throughout domestic Top Rank ESPN broadcasts, elevated social media content opportunities" and more, co's shared. "Bud Light has become the beer and seltzer choice for 21+ sports fans and we're extremely excited to continue our partnership with Top Rank," said Daniel Blake, group vp of Mainstream Brands at AB.