Latest news with #SunCruiser
Yahoo
05-08-2025
- Business
- Yahoo
Boston Beer founder Jim Koch returning to Sam Adams brewer as CEO
This story was originally published on Food Dive. To receive daily news and insights, subscribe to our free daily Food Dive newsletter. Dive Brief: Jim Koch, Boston Beer founder and chairman, will return as CEO at the Sam Adams brewer, a position he held from the company's beginnings in 1984 until January 2001. Koch replaces Michael Spillane, who is stepping down as CEO on Aug. 15 to focus on personal matters. Spillane will remain on the company's board of directors. The executive change comes as the beer industry grapples with a downturn in consumption. The sector has struggled as consumers pull back on spending and curtail booze consumption. Dive Insight: Boston Beer saw its stock and sales soar in the late 2010s due largely to demand for its Truly Hard Seltzer. But as consumer tastes have shifted in the alcohol sector, Boston Beer has been among the hardest hit. During its most recent quarter, depletions, or the amount of product the company sold to consumers, decreased 5% from the prior year. Shipment volume for the period was about 2.1 million barrels, a 0.8% decrease from the prior year. This downturn was primarily due to declines in Truly and Samuel Adams brands that were partially offset by growth in Dogfish Head and Sun Cruiser, Boston Beer's lemonade vodka drink. Koch told The Wall Street Journal he will remain as CEO until an internal successor is ready. 'I don't anticipate doing this in five years,' he told the business publication. 'There are multiple people who are not yet ready, but in a couple of years, one or two of them will be.' Koch said Spillane is leaving the brewer in a 'pretty good situation.' While Koch hasn't been CEO at Boston Beer for more than two decades, he has been actively involved in the alcohol space and his company since then, often appearing on earnings calls and at industry events. While his return as CEO was unexpected, few are likely as attuned to the inner workings of Boston Beer and the industry as a whole as Koch. 'I am confident in the strength of our management team and Boston Beer's strategic direction and remain committed to delivering long-term value for shareholders,' Koch said in a press release. The shakeup is the latest CEO change at a major alcohol company in recent months. Molson Coors CEO Gavin Hattersley announced in April he is retiring by the end of 2025 after six years leading the company. And last month, Guinness and Johnnie Walker maker Diageo said CEO Debra Crew has stepped down 'by mutual agreement' after two years. Recommended Reading Smirnoff owner Diageo splits with CEO Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Boston Globe
01-08-2025
- Business
- Boston Globe
Boston Beer Co. founder Jim Koch returns to CEO role
Koch had been chief executive since launching the company in 1984 until January 2001, and has remained its chairman and a regular presence in investor presentations, as well as public pitchman for the company. Koch, 76, has effectively maintained control of the company, even though it's publicly traded, through a special category of voting shares he holds. Advertisement Spillane, a former Nike executive, was tapped to be CEO roughly a year and a half ago, taking over for Dave Burwick, who now leads Spindrift, the seltzer and soda company. Spillane took charge of Boston Beer at a time of tumult in the craft beer industry, as smaller brewers race to consolidate amid flagging consumer demand. Shares in Boston Beer have fallen nearly 40 percent over the time Spillane has been CEO. However, in the first six months of this year, the company saw financial success: Net revenue after excise taxes rose 3.6 percent, to more than $1 billion, due to increased sales volume and pricing, and net income rose more than 30 percent from the same time in 2024. Advertisement Boston Beer long ago broadened its portfolio beyond its flagship Samuel Adams beers. The product lineup now includes Dogfish Head beer, spiked iced tea (Twisted Tea, Sun Cruiser), ciders (Angry Orchard), spiked soda (HARD MTN DEW), and hard seltzer (Truly). The company employs around 2,500 people, including around 500 in Massachusetts.
Yahoo
29-04-2025
- Business
- Yahoo
Boston Beer Co. faces $20-30M in extra costs due to tariffs
This article first appeared in the Boston Business Journal. Boston Beer Co., the maker of Samuel Adams beer, Truly hard seltzer and other drinks, says the extra costs due to tariffs this year will be between $20 million and $30 million. The big driver of those costs is the aluminum Boston Beer Co. uses for its cans. 'In terms of tariffs, we're still identifying what is actual policy and what is posturing and what looks like a long negotiation,' said CEO Michael Spillane on an earnings call last week. 'So we're being very thoughtful and very focused internally on, if we need solutions, we have them ready. We're assessing the marketplace to see what kind of pricing tolerance there would be and we're constantly looking at findings internally.' The challenges with potential tariffs come on top of negative market trends in beer and other alcoholic beverages. Hard seltzer sales were down 5% for the first quarter of 2025, and beer sales were weaker than expected. Chairman Jim Koch called today's slow decline in beer consumption 'the new normal' amid consumers' health considerations and competing markets such as cannabis. Boston Beer Co. has adjusted to the market challenges in part by turning to drinks with higher alcohol content. That includes Twisted Tea Extreme, which was launched in 2023, and Truly Unruly, which came to the market last year. However, Angry Orchard continues to lead the hard cider segment, with 40% market share, according to the company. Spillane said he expects Truly Unruly 'to be a key contributor in improving the trajectory of the Truly brand.' He also touted the performance of vodka-based hard tea Sun Cruiser, which began its national distribution early this year. Baystate Health completes cuts with 43 layoffs There are no more Bertucci's restaurants in this region of Massachusetts Boston-area French restaurant closes Brookline location after 10 years Wahlburgers shutters its Lynnfield location after 10 years Boston built America's innovation engine. Now it's under attack by Trump Read the original article on MassLive.
Miami Herald
29-04-2025
- Business
- Miami Herald
Boston Beer Company bets big on boozy lemonade
Wine and beer haven't quite gone bust, but sales have declined in the last couple of years. Other adult-beverage categories have taken a sip out of some of the sales, but Americans are also drinking less, and there has been a shift to mocktails and non-alcoholic beer, which account for part of the drop. Uncarbonated canned cocktails, part of the ready-to-drink (RTD) category, are one bright spot in the adult-beverage category. Don't miss the move: Subscribe to TheStreet's free daily newsletter According to data company Circana, vodka-infused teas and lemonade grew 332% in 2024, which may be why brands like Anheuser-Busch and Coca-Cola's Red Tree Beverages have jumped in with both feet. Anheuser-Busch sells Cutwater Spirits, Nutryl, and Phorm Energy, while Red Tree Beverages has Jack Daniel's Coca-Cola, Simply Spiked Lemonade, and Topo-Chico Margarita Hard Seltzer. Related: Costco's craft brewery collab is the best deal around Now Boston Beer Company (SAM) is expanding its offerings, too. Boston Beer Company, parent company to Sam Adams Lager, is no stranger to this category, since the company also owns Truly and Twisted Tea. These malt-liquor beverages have been top sellers for years. Image Source: Getty Images Though alcohol sales in general are down in the U.S. - around 1% in 2024 compared to 2023, according to the Distilled Spirits Council of the United States - some categories are growing, including RTD. More Food News: McDonald's, Starbucks targeted by rival fast-food chain's takeoverPopular retailer unveils affordable line with unexpected brandOreo celebrates 113th birthday bringing back fan favorite The global RTD market was estimated to be around $3.2 billion in 2024, and is expected to experience a compound annual growth rate (CAGR) of around 15% from 2025 to 2030, according to market-research company Grandview Research. The company's 2024 "Ready-to-Drink Cocktails Market Size Share & Trends Analysis" offered an in-depth look at the category. Related: Coca-Cola makes controversial move to win customers Sales of those two RTD brands have reportedly softened, but the brewer launched its vodka-infused Sun Cruiser Iced Tea last year and has been pleased enough with sales that it decided to expand the line. The ready-to-drink Sun Cruiser Iced Tea & Vodka just earned the title of "Best Alcoholic Beverage" at the Bar & Restaurant Expo in Las Vegas, and now Boston Beer Company is expanding the line. "In just the first year, Sun Cruiser has been able drive impressive growth and become a go-to choice for drinkers looking for a high-quality, spirits-based option that pairs best with fun under the sun," said Senior Brand Director at Sun Cruiser Erica Taylor. The additional flavors are Lemonade, Pink Lemonade, Strawberry Lemonade, and Lemonade & Iced Tea. The Sun Cruisers line will be available in 45 states. The drinks have a 4.5% ABV, 1 gram of sugar and 100 calories. At Total Wine, the 8-pack is currently $17.99. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Associated Press
17-04-2025
- Business
- Associated Press
Sun Cruiser Squeezes More Sunshine into its Lineup with New Lemonade & Vodka Flavors
BOSTON, April 17, 2025 (GLOBE NEWSWIRE) -- Just over one year after the launch of Sun Cruiser Iced Tea & Vodka, the fast-growing, spirits-based brand from The Boston Beer Company is adding NEW Sun Cruiser Lemonade & Vodka – a four-flavor lineup of smooth, deliciously refreshing lemonades made with real fruit and premium vodka. Bright, balanced, and easy to enjoy, Sun Cruiser Lemonade & Vodka is crafted for carefree hangs, anytime sipping and old school outdoor fun, wherever the sunshine takes you. The new line-up features four refreshing flavors: Landing at a time when the premium ready-to-drink (RTD) category is seeing unprecedented growth, Sun Cruiser Lemonade & Vodka meets drinkers' demands for full-flavor, spirits-based options with light, easy-to-drink profiles. As the #1 new RTD brand family of 2024, Sun Cruiser is off to a hot start. Currently holding the #1 fastest-moving vodka iced tea 8-pack in its Classic Iced Tea style **, and recently awarded Best Alcoholic Beverage at the Bar & Restaurant Expo in Las Vegas, Sun Cruiser is proving to be a fast fan-favorite. 'In just the first year, Sun Cruiser has been able drive impressive growth and become a go-to choice for drinkers looking for a high-quality, spirits-based option that pairs best with fun under the sun,' said Erica Taylor, senior brand director for Sun Cruiser. 'Expanding our lineup to bring even more flavor to fans, Sun Cruiser's Lemonades are balanced, bright and about to be in your frequent rotation this summer.' Coming in at just 100 calories, 1g of sugar per 12 oz. serving, 4.5% ABV, and made with no bubbles, Sun Cruiser is an easy choice for any summer moment – from beach days to concerts to ballgames. Now available in 45 states and sold in an 8-count variety pack, fans can easily sample all four lemonade flavors. Whether you're reaching for something new or sticking with the brand's Classic Iced Tea & Vodka, Sun Cruiser is more than something to sip – it's your laidback companion for those moments of spontaneous fun and adventure. Crack one open, kick back and let the good times cruise. For more information about Sun Cruiser Iced Tea & Vodka or Sun Cruiser Lemonade & Vodka, visit To find Sun Cruiser at a retailer near you, check out the brand's product finder. About Sun Cruiser Made for those who enjoy the sun on their face and hanging outdoors with friends, Sun Cruiser Iced Tea & Vodka and Sun Cruiser Lemonade & Vodka are made with real ingredients and premium vodka for a perfect choice to sip and share. At 4.5% ABV and no bubbles to weigh you down, Sun Cruiser has just a kiss of sweetness and tastes refreshingly smooth in a mix of delicious flavors. For more information, follow along on social @DrinkSunCruiser and visit us at About The Boston Beer Company The Boston Beer Company, Inc. (NYSE: SAM) began in 1984 brewing Samuel Adams beer and has since grown to become one of the largest and most respected craft brewers in the United States. We consistently offer the highest-quality products to our drinkers, and we apply what we've learned from making great-tasting craft beer to making great-tasting and innovative 'beyond beer' products. The Boston Beer Company has pioneered not only craft beer but also hard cider, hard seltzer and hard tea. Our core brands include household names like Angry Orchard Hard Cider, Dogfish Head, Truly Hard Seltzer, Twisted Tea Hard Iced Tea, and Samuel Adams. We have taprooms and hospitality locations in California, Delaware, Massachusetts, New York and Ohio. For more information, please visit our website at which includes links to our respective brand websites. ### Media Contact: Elizabeth Walter [email protected] *CY 2024 Total US MULO + Conv + Circana Liquor Markets **L13wk Total US MULO + Conv + Circana Liquor Markets Attachments Taylor Jette Sun Cruiser Iced Tea & Vodka [email protected]
