Craft Brewing and Distilling News for July 27, 2020July 27, 2020
•The Boston Beer Company reported that depletions were up by 46% for the second quarter ended in June, with net revenue up 42% to $452.1 million. In the first half of the year, net revenue was up 37.3% to $782.7 million. Though the company was impacted by the Covid-19 pandemic, the decrease in keg volume and increase in production costs was more than offset by surging demand for brands like Truly Hard Seltzer and Twisted Tea, as well as the addition of the Dogfish Head portfolio. For the 26 weeks ended June 27, Boston Beer’s net income was $78.4 million, up from $51.2 million the previous year.
•Fort Collins, Colorado’s Odell Brewing Company has announced Allkind Hard Kombucha, the latest offshoot from the company following the June launch of the OBC Wine Project’s canned wines. The brand will launch this fall in two flavors—Super Berry (6.6% abv) and Tropical Turmeric (6.5% abv)—and will be available across Odell’s 20-state distribution footprint. The kombucha is made with all natural ingredients and without added sweeteners. Allkind will be available in 6-packs of 12-ounce cans and in individual 16-ounce cans. One percent of gross sales will be donated to the 1% for the Planet environmental initiative.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.