Partake Brewing, a Canadian non-alcoholic beverage brand has raised $4 million in institutional funding as it banks on consumers turning towards alternative drinking options.
"I think the big reason for our success and for the renaissance of craft [non-alcoholic] is this drive toward healthier drinking and eating," Partake Brewing CEO Ted Fleming told Cheddar.
Partake is banking on more consumers choosing non-alcoholic options at moments usually associated with drinking beer or wine, such as a happy hour event or party.
"They can have it at lunch and be productive in the afternoon when they get back to work," he said. "They can have it at a business meeting and have that same social experience and connection that comes with those meetings and also then be able to go back and be productive."
Fleming said Partake aims to compete directly with alcoholic options, rather than soda or other non-alcoholic drinks, meaning it's shooting for a larger presence in bars as well as retailers.
While alcohol consumption grew during the coronavirus pandemic, Partake saw its sales rise as well, and now the company is anticipating an uptick thanks to health-consciousness.
"We're expecting there to be a bit of shift now toward healthier products as people get into September, back to school, some resemblance of back to normal," Fleming said. "It's a period where people will re-evaluate how much they're drinking and maybe look towards non-alc a bit more going forward."
Partake's products, which include beer varieties such as IPAs, stouts, pale ales, and blondes, contain zero carbohydrates and as few as 10 calories per drink.
Suzy Batiz, founder and CEO of ~Pourri, discusses creating Poo-Pourri, building out multiple businesses, and why she believes any problem can be overcome.
Fresh off his unanimous appointment as interim CEO, Dax Dasilva shares his strategy for Lightspeed and why growth and profitability are his biggest focus.
Eddie Ghabour, co-founder and owner of KEY Advisors Wealth Management, explains why he’s investing in India, what could happen if inflation rises again, and the long-term ‘debt bubble’ looming.
The company behind Squishmallows says Build-A-Bear's new Skoosherz toys are a copy of their own plushies. Build-A-Bear filed their own suit basically responding, "No they're not!"
While tech employees worry about artificial intelligence taking over their jobs, Microsoft says Iran, North Korea, and more U.S. adversaries are beginning to use AI in cyber spying.
The self-proclaimed "only Post who worked at Kellogg" was a military veteran who fought in World War II before inventing everyone’s favorite fruit-filled breakfast ravioli.
Kevin Gordon, Senior Investment Research Manager at Charles Schwab, shares his thoughts on how investors can take advantage of the current bull market while keeping in mind the impacts of Fed policy and inflation.
Lab-created diamonds come with sparkling claims: that they are ethically made by machines running on renewable energy. But many don't live up to these claims or don't respond to questions about their electricity sources, and lab diamonds require a lot of electricity.
