Private equity firm Castanea Partners has made a minority investment in Portland, Oregon-based Brew Dr. Kombucha’s parent company Townshend Group (TTG), with an eye on expanding the organic kombucha brand’s US reach and consumer awareness.
The beer industry’s first round of consolidation is largely over as macro US brewers have slowed their pace of craft brewery acquisitions, making way for other types of deals that offer small brewers new paths forward, says Rabobank.
LGC Capital, Creso Pharma, and Baltic Beer Company have formed a joint venture company, CLV Frontier Brands, which aims to develop a full beverage portfolio using cannabis terpene blends and hemp ingredients worldwide, starting with beer.
Chicago loose-leaf tea company, Tiesta Tea, has broadened its portfolio with the launch of a ready-to-drink (RTD) cold brew tea line, a segment within the category that continues to heat up with consumer interest.
Consumption of alcoholic drinks has been largely static in recent years whereas the use of cannabis is growing and will continue to expand, offering a commercial opportunity for the alcohol industry in North America, according to Euromonitor analysts.
The US Congress has passed the Craft Beverage Modernization and Tax Reform Act of 2017 (CBMTRA), a bill that will cut the federal excise tax on beer, spirits, and wine producers effective on Jan. 1, 2018.