In a clear move of diversifying their portfolio to align with trends, PepsiCo exits one category to become a player in another. In the last week we saw PepsiCo first sell off its juice business and then announce a partnership with Boston Beer Co to make Hard Mountain Dew. The spiked seltzer trend continues as two very large beverage companies come together to tap into a potentially new target market – a younger (over 21 obviously) group of consumers who are brand loyal to the ‘Dew’. We have seen a LOT of partnerships lately, and this is a great example of two CPGs getting together to create a truly unique product – not just another “me too” innovation. Best of luck to both PepsiCo and Boston Beer, hopefully they haven’t missed the height of the trend.
In other big news today:
Three Universities are rolling out robot food delivery for students, who can use the service via their campus meal plan.
In yet ANOTHER sign that Halloween is going to be big this year, Party City announced they will open four times more pop up stores than they did in 2020.
Albertsons names a new CFO, Sharon McCollam, who had retired from Best Buy in 2016 where she served as EVP, chief administrative and CFO.
Nestlé Health Science has successfully completed its acquisition of The Bountiful Company’s core brands, including Nature’s Bounty, Solgar, Osteo Bi-Flex, Puritan’s Pride, Ester-C, and Sundown.
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