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.
Geoff Freeman, president and CEO of the U.S. Travel association, explains why other nations are outcompeting the U.S., and the innovations that would put American back on top.
Tony Drake, founder of Drake & Associates, breaks down the latest CPI report, why ‘inflation is still trending down,’ and why the Fed doesn’t want to cut rates too soon.
Make sure your love don't cost a thing this Valentine's Day to any scammers. Note: we're not talking about your partner that didn't do the dishes after saying they would.
Landing founder and CEO Bill Smith shares how the company’s new Nomad pass and partnership with Frontier Airlines allows subscribers unlimited airfare and accommodations.
The pandemic yielded government financial support and (eventually) a surprisingly strong job market — but racial wealth disparities grew. Why is it so difficult to close the wealth gap?
Plenty of retailers and suppliers are reducing the variety of their offerings to focus instead on what they think will sell best. Many businesses have decided less is better, justifying their limited selection by asserting shoppers don’t want so much choice.
Joe Pompliano, author of the Huddle Up newsletter, breaks down the biggest moments from Super Bowl LVIII, from potentially record-breaking viewership to Taylor Swift’s highly anticipated appearance.
David Wright, President and owner of Wright Financial Group, shares his thoughts on why the Federal Reserve seems hesitant to cut rates, and why regional bank stocks could help move the needle.
