Boston Beer Company CEO Dave Burwick will step down and retire from the company’s board of directors, effective April 1. Michael Spillane, a Nike executive and lead director on Boston Beer’s board of directors, will supplant him.
Boston Beer Company’s plans in the non-alcoholic cannabis-infused beverage space are beginning to play out one year after establishing a Canadian subsidiary to focus on those offerings.
Boston Beer Company executives are now expecting hard seltzer growth for 2022 to be near the lower end of its previously communicated projections of flat to +10%, but they reaffirmed confidence in the long-term staying power of the segment, founder Jim Koch shared this week during the Global Staples Forum, according to a recap compiled by Goldman Sachs managing director Bonnie Herzog.
Ryan Burk, head cider maker for Boston Beer and Angry Orchard Hard Cider, has left the company, effective April 30.
Boston Beer Company is maintaining its guidance of 4% to 10% volume growth in 2022, despite first quarter losses, the company’s leadership team shared during an earnings call with investors Friday.
Boston Beer Company’s big first quarter in 2021 as it built hard seltzer inventories is coming to roost a year later. The company reported declines in depletions and shipments of -7% and -25.1%, respectively in the first quarter of 2022.
Boston Beer Company senior VP of supply chain Quincy B. Troupe will exit the company on April 1, according to a separation agreement filed with the U.S. Securities and Exchange Commission. Fort Bragg, California-headquartered North Coast Brewing Co. has named Chris Hudson its national key accounts director. Detroit, Michigan-based, Molson Coors-owned Atwater Brewery has appointed Katy McBrady as its president, effective April 4, following the departure of former president and owner Mark Rieth in December.
Boston Beer Company and Sauza tequila-maker Beam Suntory launched Sauza Agave Cocktails Thursday – a line of Mexican-inspired, ready-to-drink canned cocktails (RTDs).
Boston Beer replaced the two flavors in its Truly Extra Hard Seltzer line with Pineapple Orange Punch and Berry Blast.
Boston Beer Company announced the exit of one of its top executives, as well as offered a deep dive into its business across a pair of filings with the U.S. Securities and Exchange Commission Tuesday evening. In an 8-K filing, Boston Beer reported that Quincy Troupe, senior VP of supply chain, tendered his resignation on February 21.
Hard MTN Dew – the partnership project between Boston Beer Company and PepsiCo Beverages – launched in three states this week: Florida, Iowa and Tennessee.
Boston Beer Company has “many different ways” to reach the 4%-10% growth range it is targeting for 2022, even if Truly Hard Seltzer fails to grow amid the continued slowdown of the hard seltzer segment, CEO Dave Burwick said during the company’s fourth quarter and full-year earnings call.
Boston Beer Company’s full-year net revenue reached a record $2.058 billion, an 18.5% increase over 2020, the company reported today. However, the news coming out of the company’s Q4 earnings report wasn’t all rosy, with the effects of the hard seltzer slowdown dragging down the company’s results.
Boston Beer Company executive salaries for 2022 were shared in a U.S. Securities and Exchange Commission filing Tuesday. The company also announced that its top executives would forego bonuses for fiscal year 2021.
Boston Beer Company is investing $5 million in Twisted Tea’s winter advertising campaign – more than five times what it spent in Q1 2021 — and introducing a winter-focused ad for the first time.
