Beverage maker Stewart’s Enterprise Inc. (SEI) announced late last week that it has named industry veteran Tony Gaines as the company’s new CEO. In his new role, Gaines will help the craft soda maker increase momentum behind its alcoholic beverage brands, including its recently launched Stewart’s Spiked Seltzers and the upcoming launch of a RTD Hard Rock-branded hard seltzer line.
“I am excited to be part of this amazing company with household name brands consumers recognize,” Gaines said in a press release. “Hard Rock is recognized around the world for having outstanding cocktails and a Live Louder attitude. Stewart’s Root Beer and Orange Cream have been around for over 100 years and the brand continues to be aspirational in the carbonated beverage field. Our launches of RTD cocktails and hard sodas, coupled with the seltzer expansion, will be growth drivers for the industry.”
Stewart’s Spiked Seltzer launched in the Northeast in February and rolled out nationally in the following months with flavors including Root Beer, Black Cherry, Orange Cream and Raspberry Lime. Stewart’s also holds the license to manufacture and distribute hard seltzers under the Hard Rock trademark which it aims to introduce under Gaines’ direction.
“While working with Tony on building the business plan, his knowledge and feedback was breathtaking,” said SEI Board Member Barry Woods in a press release. “When retailers and suppliers from around the world commented on what a positive move having Tony on board as a consultant is for the company, we knew we needed his leadership full-time and made the move. We cannot be more excited about the future under his leadership.”
Prior to assuming this role, Gaines has spent over 25 years in high-level positions within the alcoholic beverage industry, including previously serving as the VP of Small Format beverages at Anheuser Busch, National Director of E & J Gallo Wine Company and Executive VP of Sales at Advantage Sales and Marketing. In these roles he represented a wide range of spirits brands in the military channel at an international level.
“The breadth and depth of Tony’s alcohol experience and knowledge is extraordinary,” said SEI Chairman Barrie Clapham in a press release. “This coupled with his experience and success across all leadership positions puts Stewart’s Enterprises in a position for astronomical growth. We are excited to see what our true potential looks like under his leadership.”
Gaines succeeds Peter Strahm who has served as CEO of the company for the past two years and has now transitioned to the role of Chief Commercial Officer to focus on U.S. operations and distributor execution.
However the current state of the hard seltzer market is “uncertain,” according to recent data from Nielsen IQ which found hard seltzer sales declined about 30% throughout the summer months. Nielsen also reported that leading hard seltzer brand White Claws’ double digit growth steadily decreased over the course of the year and Boston Beer Company’s Truly brand withdrew its previous guidance for the rest of the fiscal year.