The Weekly Sip is Food Dive’s column focused on the latest news in the rapidly changing and growing beverage sector. From inaugural product lines to big investments and controversial topics, this column aims to quench the thirst for developments in the category.
Duckhorn Portfolio names new CEO
Just two weeks after closing its nearly $2 billion purchase of luxury winemaker Duckhorn Portfolio, the new owner has made a change at the top.
Butterfly Equity, a Los Angeles-based private equity firm specializing in the food and beverage sector, said Robert Hanson will take over as CEO starting in February. Hanson succeeds Deirdre Mahlan who will stay on as an advisor after she steps down.
“The company begins this next chapter from a place of exceptional strength, with a proven strategy for growth and market expansion that I look forward to building on,” Hanson said in a statement.
Hanson is no stranger to luxury brands or the alcohol space. He previously served as the head of Constellation Brands’ wine and spirits global portfolio for five years. He also has worked at sustainable luxury jewelry brand John Hardy and held top roles at clothing companies American Eagle Outfitters and Levi Strauss & Co.
Hanson appointment gives Butterfly a trusted and experienced operator to oversee Duckhorn, whose brands include Duckhorn Vineyards, Decoy and Sonoma-Cutrer Vineyards. He has advised Butterfly on the firm’s broader work in the beverage and alcohol space.
Butterfly has amassed a sprawling portfolio of food and beverage companies since it was founded in 2016. The firm has acquired several brands including Bolthouse Fresh Foods, Orgain and Pete and Gerry’s.
— Christopher Doering
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Courtesy of Grupo Jumex
Odwalla reemerges with new juices, smoothies
A familiar drink brand is returning to shelves after nearly five years off the market.
Odwalla is launching a new lineup of smoothies and juices in the U.S. under the banner of Mexican beverage producer Grupo Jemex. The product lineup includes Mango, Strawberry-Banana and Berries smoothies. The three juice products the company is selling are non-concentrate Orange; Orange, Guava and Ginger; and Green Juice, which contains a blend of pineapple, apple and cactus.
The drinks do not contain added sugar or high fructose corn syrup.
“We’re passionate about creating beverages that people trust and enjoy,” Salvi Folch, CEO of Grupo Jemex, said in a statement. “Odwalla embodies the quality and commitment to healthy living that we have delivered for over 60 years.”
Odwalla’s history dates back to the 1980s when a group of jazz musicians from Chicago launched a business selling orange juice out of a Volkswagon van.
The brand’s product lineup grew to include other juices, waters, smoothies and energy bars. In 2001, Odwalla was acquired by beverage giant Coca-Cola, which sold it two decades later amid a long-term decline in juice consumption in the U.S.
As wellness and better-for-you trends reshape the beverage landscape, juice makers are aiming to adapt their offerings to fit changing consumer desires.
Tropicana, which was sold by PepsiCo for $3.3 billion in 2021 to a private equity firm, has leaned into products with less sugar and new usage occasions, such as cocktail mixers. In 2023, cranberry juice maker Ocean Spray debuted zero sugar varieties of its flagship juices.
— Chris Casey
