GoPuff Closes on $1 Billion in Funding
On-demand e-commerce retailer GoPuff has closed on a $1 billion Series H funding round, bringing the valuation of the Philadelphia-headquartered company to $15 billion, according to TechCrunch.
Joining the investment round were Blackstone’s Horizons platform, Guggenheim Investments, Hedosophia and Adage Capital. Previous investors who were included in the round were Fidelity Management and Research Company, Softbank Vision Fund 1, Atreides Management and Eldridge.
The funding is earmarked for GoPuff’s ongoing expansion in North America, the United Kingdom and Europe; filling out its staff; and building out its platform.
Within the alcohol space in the U.S., GoPuff has made a splash with the acquisitions of brick-and-mortar retailers BevMo! and Liquor Barn. GoPuff operates its own network of 450-plus sites, which sell alcohol “in most, but not all cities,” according to the company’s website.
Heineken Takes Controlling Interest in India’s United Breweries
India’s United Breweries is now a part of Heineken N.V. following the Dutch brewing giant’s acquisition of a controlling interest in the maker of Kingfisher, the company announced today.
Heineken acquired additional shares of United Breweries Limited (UBL) on June 23, increasing its share of the company from 46.5% to 61.5%.
“UBL has a proud history dating back more than a century as an influential shaper of the beer industry in India. It built its position as the undisputed market leader in India with a strong network of breweries across the country and a fantastic portfolio led by its iconic Kingfisher brand family, complemented more recently by a strong Heineken international brand portfolio,” Heineken chairman and CEO Dolf van den Brink said in a press release. “We are honoured to build on this legacy and look forward to working with our colleagues at UBL to continue to win in the market, delight consumers and customers and unlock future growth.”
Heineken said UBL will be a top operating company under its management and Kingfisher will be a top five global grand. The company cited the growing population in India, with nearly 1.4 billion people and “a strong emerging middle class, enabling further premiumisation.”
Ball to Invest $383 Million in North Carolina Production Hub
Aluminum can maker Ball Corporation is investing $383.8 million to join Red Bull and Rauch’s beverage manufacturing hub in Concord, North Carolina, the company announced this week.
As such, Colorado-headquartered Ball will manufacture aluminum cans for Red Bull and other customers in the 800,000 sq. ft. facility.
Ball’s addition to the project is expected to create 220 new jobs and a total of 600 jobs in collaboration with Red Bull and Rauch.
Goose Island Names Senior Brewmaster
Anheuser-Busch InBev-owned Goose Island Beer Co. has promoted Daryl Hoedtke to senior brewmaster of the Chicago-based brand.
Hoedtke joined Goose Island in 2013 and has held a variety of brewing and cellar roles with leadership and training experience. His most recent title was crossbrew brand owner, a role unique to Goose Island that oversees quality and consistency for the craft brewery’s brands brewed elsewhere in the A-B network, according to a spokesperson.
He succeeds former brewmaster Keith Gabbett, who was promoted to senior innovation manager in May, when Goose Island created a slate of new innovation-centric roles.
“Over the last 33 years, we have been fortunate to have incredible brewing talent in our ranks. Daryl’s vast technical brewing acumen, historical knowledge of Goose Island and depth of understanding of our Fulton St. brewery has made him a valued member of the team and will make him an exceptional brewmaster,” Goose Island president Todd Ahsmann said in a press release. “With our renewed focus on innovation, I can’t wait to see what our team dreams up with Daryl guiding us forward.”
RNDC Partners with 4 CBD Brands
Wine and spirits distributor Republic National Distributing Company (RNDC) has signed four CBD beverage brands — DayTrip, Oh Hi, Sati Soda and Wyld CBD — marking its first partnership with cannabinoid-infused beverage makers, according to BevNet.
RNDC will only distribute the brands in Alaska, Colorado, Florida, New Mexico, Oklahoma, Oregon and Texas — where CBD is legal and sales are allowed by local governments. Sales are slated to start in mid-August.