It was only a matter of time before Coke would show an interest in the cannabis market. Brewers like Molson Coors and Constellation Brands have already declared their interest in the billion dollar industry. According to a report by Bloomberg in September 2018, Coke is weighing its cannabis options as a possible alternative to its sugary drinks, which are becoming more and more discredited by consumers.
Jim Koch, the founder of Boston Beer, picked a side in America’s political wars when he accepted an invitation by President Trump to an elite gathering of a dozen or so industry bigwigs on 7 August 2018. The reason we know is because on the following day various media outfits posted a video of Mr Koch’s impromptu dinner speech on Facebook.
Having seen its beer sales drop for several years, the number two brewer in the US, MillerCoors, announced on 4 September 2018 that it will cut 350 jobs as part of a new restructuring plan aimed at getting its business “back on track”. The last time MillerCoors did a corporate reorganisation was in 2013.
Can you taste independence in a beer? Of course, not in a literal sense. But as taste is a matter of tastebuds and mind coming together, the Brewers Association (BA) has launched a national awareness campaign for independent brewers.
Why now? PepsiCo is splashing out a bubbly USD 3.2 billion for the Israeli company SodaStream, a manufacturer of sparkling water kits. The transaction was announced on 20 August 2018. By our read of the numbers the outlay is about 30 times SodaStream’s profits (EBITDA).
What was all that about? The number three US brewer Constellation Brands could invest up to USD seven billion into Canada’s Canopy Growth, a nascent marijuana company. Is this a departure from Constellation’s playbook of buying craft brewers to increase overall revenues and sales?
Ontario’s Premier Doug Ford announced on 7 August 2018 that his government would lower the minimum price of a 355 ml bottle or can of beer with an alcohol content below 5.6 percent ABV to CAD 1.00 (USD 0.76) from CAD 1.25.
Here today, gone tomorrow. MillerCoors is ceasing production of cheap but cheerful Two Hats, the crafty-looking light beer, which came in lime and pineapple flavours. Taking its inspiration from – possibly – Bud Light Lime, the range was targeted at younger legal-age drinkers. Launched only in February this year, the economy-priced brand will exit the market in early 2019. MillerCoors announced its decision on its blog on 6 August 2018.
Indra Nooyi, the CEO of PepsiCo, will step down in early October, the company announced on 6 August 2018. She held the top job for twelve years and was the firm’s fifth CEO in the group’s 41-year history. Her successor is a company insider, Ramon Laguarta, 54, a Spanish national, who has held various positions in his 22 years at PepsiCo.
Molson Coors quickly followed words with deeds and reported on 1 August 2018 that it has entered into a joint venture in Canada to develop cannabis-infused beverages for the domestic market.