Dive Brief:
- Red Bull Editions, the company's line of flavored energy drinks, snagged the No. 7 spot for multi-outlet dollar sales on Chicago-based market research firm IRI's New Product Pacesetters report, which analyzes first-year sales for consumer goods brands. Red Bull Editions saw $83 million in multi-outlet dollar sales and $238.9 million in convenience store sales.
- Diageo is releasing two new Kentucky Straight Bourbon Whiskeys in its revival of the 142-year-old bourbon brand I.W. Harper. The brand is returning to the U.S. after stopping distribution in the country for almost 20 years after the I.W. Harper brand shifted its focus to Asian markets in the 1990s.
- The founders of AriZona iced tea have reached a settlement agreement after a legal battle that has gone on since 2008. The dispute arose over a decision about whether to sell the company to potential buyers.
Dive Insight:
These headlines come amid recent news that the U.S. beverage industry as a whole saw 2.2% volume growth in 2014, led by significant volume increases in RTD canned and bottled coffee drinks and bottled water.
Meanwhile, both Coca-Cola and PepsiCo reported earnings this week, both trumping some analyst estimates.
The Brewers Association also recently applauded the top 50 craft brewers in the U.S. with its annual list, which offers a glimpse of the growth of the craft beer industry as a whole.