Craft Brewing and Distilling News for February 17, 2023February 17, 2023
•Boston Beer Company reported a drop in depletions by 5% and a drop in shipments by 3.8% in its fiscal year through December. Revenue, however, was up 1.6% to nearly $2.1 billion. The volume declines, according to the company, are the results of challenges for Truly Hard Seltzer, Dogfish Head, Angry Orchard, and Sam Adams. Despite the overall headwinds facing the company for 2022, the company’s fiscal fourth quarter was a bright spot with depletions increasing 3% and shipments up 16.7%, as net revenue was up 28.6% to $447.5 million. As with the full fiscal year, Q4 saw declines in Truly, Dogfish, and the others, but within the quarter, those declines were offset by growth in Twisted Tea and Hard Mountain Dew.
•Austin, Texas-based Artisanal Imports has partnered with California’s Bucanero USA based to become the exclusive U.S. importer for Cerveza Palma nationwide. Currently available in select parts of Florida and California, Artisanal plans to expand Palma’s distribution later this year. The 4.9% abv Cuban-style pilsner, produced by Compañía Cervecera de Nicaragua, is available in six- and 12-packs of 12-ounce cans, with bottles planned for a summer 2023 release.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
Tagged : Artisanal Imports, Boston Beer Company, Bucanero USA, Cerveza Palma, Truly
GET YOUR FIRST LOOK AT 2021 DATA AND 2022 PROJECTIONS FOR THE WINE AND SPIRITS INDUSTRIES. ORDER YOUR 2022 IMPACT DATABANK REPORTS. CLICK HERE.