Dear Client:

Back with a company update on ABC’s Shark Tank on Friday (tomorrow), Tetra Pak wine/RTD startup BeatBox just hit a $200 million “post money” valuation at the close of its latest funding round, the company shared with CBD. 

Concentric Equity Partners out of Chicago – a new investor for BeatBox – led the just-closed $15 million Series C round, CEO Justin Fenchel told CBD. Arlington Capital Advisors was the company’s investment bank. 

And BeatBox added a new member to its board, Todd Paul of Concentric. Todd said Concentric invested because “BeatBox’s growth potential was evident.” Plus, “the entire BeatBox team has been doing amazing things for years; it’s exciting that everyone else is starting to see it.” 

Justin said BeatBox will use the latest funding to double its staff “headcount” and triple its marketing budget in 2023. 

MARK CUBAN “FIRED UP” ON FUNDRAISE. The BeatBox crew will also be back with a company update on Shark Tank, Justin said, with a piece showing “the huge growth of the business over the last few years” driven by the company’s single-serve launch. 

BeatBox is back in Walmart “after our unsuccessful test” following the airing of the original Shark Tank episode in 2014. Dallas Mavericks owner and Shark Tank billionaire investor Mark Cuban is “super fired up” on the latest fundraise, Justin said, as BeatBox represents “likely the biggest valuation of any of his Shark Tank investments.” 

As for other brand updates, BeatBox is in talks with 7-Eleven on a “national program.” And September has been “slightly bigger” than August, with $200,000 cases depleted and $4.2 million in revenue.

BREWDOG TO OPEN FIRST FRANCHISED BREWPUB IN DENVER, MORE IN THE WORKS

Scottish craft brewer, BrewDog, continues to build out its presence here in the states with lots and lots of outposts.

The company – which already has six bars and two hotels in Ohio, as well as a bar in Pittsburgh through its U.S. subsidiary, BrewDog USA – is currently building out a spot in Atlanta and a massive 30,000-square-foot location in Las Vegas.

And now it seems the brewer has circled Denver as the next place to infiltrate.

Columbus Business First reports that BrewDog has struck its first U.S. franchise deal, which could give way to a trio of new bars in Denver. 

Standing as the franchisee in Denver is HopDragon Holdings, “which is owned by Juan Carlos Mondragon, who’s been recognized as among the top 1% of McDonald’s franchisees in the world,” per Columbus Business First.

HopDragon aims to open three locations in Denver, and expects for the “first franchised brewpub” to open next year in the city’s RiNo neighborhood. 

BEER BRIEFS:

CLARIFICATION:  Yesterday we reported that Stone said its new 12-count IPA variety canned pack held the highest sales velocity of any craft mixed pack in the U.S. during the latest four weeks to September 10, citing Nielsen food data. But a spokesperson clarified that they “have been tracking against Craft Assorted 12pk Can competitors” specifically to come to that metric. 

SWEETWATER BRINGS THE HAZE FOR FALL LINEUP. SweetWater’s “fall craft-beer lineup” is all about the haze this year. The company said it will build on its H.A.Z.Y. IPA brand with the introduction of H.A.Z.Y. Double IPA (8.5% ABV), and bring back an “old favorite” with the release of Mosaic Single Hop Hazy IPA (6.2% ABV). H.A.Z.Y. Both beers will be available at the start of next month in select markets, including GA, FL, SC, PA, MD, WV, and VA. H.A.Z.Y. Double IPA will hit in 19.2-oz. cans, while Mosaic will show up in 6-pack cans; and both beers will be included in the brewer’s fall IPA Variety Pack, alongside H.A.Z.Y. IPA and SweetWater IPA.

AVERY TEAMS UP WITH NATIONAL SKI PATROL FOR PATROL DOG PALE ALE. Colorado’s Avery Brewing has partnered up with the National Ski Patrol to launch a new brew, dubbed Patrol Dog Pale Ale. The “bright and refreshing” collaboration brew is set to “raise proceeds for avalanche rescue dog programs across the country,” per company release. Patrol Dog Pale Ale will join the brewer’s “year-round core lineup” and hit across Avery’s retail footprint in 6-pack cans. 

Until tomorrow,

Harry, Jenn, and Jordan

“Never put off until tomorrow what you can do the day after tomorrow.”

– Mark Twain

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