🦋 Butterfly Breaks Up Bolthouse Business

Another DeCicco is back in the driver’s seat at Kitu Life (Super Coffee). After Jimmy had a turn from 2015 to 2022, chief operating officer and original company founder Jordan DeCicco is stepping in as interim CEO, closing out Tyler Ricks’ run with the Texas-based coffee specialists.

☕ Ricks, an investor in Super Coffee since 2018, helped execute a strategic pivot towards profitability upon becoming CEO in December 2022, highlighted by an 80% reduction in EBITDA losses and a reshuffling of the brand’s expansive portfolio, he told BevNET; that pivot is around 90% complete, he estimated.

💬 DeCicco: “I think we really achieved a lot of what Tyler was brought on to help us do. We feel we have a foundation and team and product strategy to keep that going. So I’m ready for it.”

In this episode, the CPG Week team talks about Beverage Forum insights, the state of the cannabis industry after the drug is potentially rescheduled and the troubling signs from fintech consumer brand lender Ampla. 

🥤 BevNET Editor-in-Chief Jeff Klineman and senior reporter Brad Avery discuss celebrity beverage brands, why industry stakeholders are high on next-generation drinks and one big producer’s thoughts on future diversification.

🪴 What would it mean if marijuana went from a Schedule I to Schedule III drug and how might it impact emerging cannabis products and the broader marketplace?

😬 What is going on with CPG credit provider Ampla and how does the state of lending for food and beverage brands relate to its woes.

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