2022 marked another year of growth for the beverage alcohol industry. Several new regulation updates from the TTB and the Treasury Department, along with some notable acquisitions, highlighted the year. As we begin the new year, we are taking a look back at some of the top news stories of 2022, along with the top-performing blogs, podcasts, and videos.
Top News Stories of 2022
On February 9, the U.S. Department of the Treasury released a 63-page report on the status of the U.S. alcohol market along with recommendations for removing competitive barriers, reducing consolidation, and protecting consumers.
In a letter dated November 17th, the TTB said that it would issue proposed rules on mandatory nutrient allergen and alcohol content labeling, and start the process for regulations on mandatory ingredient labeling.
Brown-Forman made some key acquisitions this fall, including a deal with Vantguard and MG Destilerías to acquire Gin Mare brands and a separate deal to purchase the Diplomático Rum brand and related assets from Destillers United Group S.L.
In May, the TTB asked for comment about eliminating all standards of fill for wine and spirits, except for a 50mL minimum for both and a 3.785-liter maximum for spirits.
Effective January 1, 2023, oversight of CBMA will transition from Customs Border Protection (CBP) to the Alcohol and Tobacco Tax and Trade Bureau (TTB). With this shift the beverage alcohol industry will see changes in the way the tax reduction program is applied as well as the steps that brands need to take to comply.
Top Park Street Blog Posts of 2022
When it comes to alcohol regulation in the U.S. every state has its own unique rules and regulations. This entry in the Park Street University blog covers what brands need to know to enter and gain traction in Control States.
Mergers & acquisitions in the beverage alcohol space continued apace in 2022 as strategic buyers adjusted their portfolios to meet the demand for new consumer trends like canned cocktails, hard seltzer, and e-commerce. This blog features a report on the most prominent M&A deals from 2022.
Park Street Companies teamed up with the American Craft Spirits Association (ACSA) to develop and release the sixth annual Craft Spirits Data Project to track the long-term growth of the U.S. craft spirits category.
ecoSPIRITS, the world’s first low carbon, low waste spirits distribution technology, announced a partnership with Park Street to bring its closed-loop distribution system to the U.S. market in 2022.
With many up-and-coming brands emphasizing sustainable practices, Park Street University’s Sustainability Spotlight series featured founders from some of the beverage alcohol brands paving the way to a better future.
Top Podcast Episodes of 2022
Founders of Samson & Surrey sit down to discuss their backgrounds in the industry, the formation of Samson & Surrey, and their recent sale to Heaven Hill. They explain the strategy for developing the brands in their portfolio and how Samson & Surrey’s core principles translate to a compatible partnership with the Heaven Hill team.
The Co-Founder of 21 Seeds Tequila discusses the brand’s meteoric rise and sale to Diageo. She dives into how she was able to use her personal experience to craft a brand that appealed to a previously overlooked consumer base.
Mark Anderson discusses how the sustainable ethos of his brand filters into all aspects of the Drake’s Organic model. He gets into the methods his business uses to operate sustainably from production to packaging and the history that led to his brand becoming one of the leaders in sustainable spirits production.
The two industry veterans discuss their brand’s principles and growth over recent years. Joly & Lindner touch on how their on-premise background and marketing initiatives translated to developing some of the most popular premium RTDs on the market.
The founder of DisPact Ventures and Chinola Passion Fruit Liqueur, sat down with Park Street to discuss the intersection of impact investing and brand development. He takes listeners through his investment strategy and helps them understand the decision-making process behind how he allocates funds.
Top Park Street University Videos of 2022
In this video, Donna Hartman, General Council for The Connacht Whiskey Company, explains the key facets of maintaining an efficient corporate culture in a highly regulated industry. She discusses how aspects like reviewing management structure and diligent record-keeping go a long way when navigating the legal landscape.
Jeff Menashe, CEO of Demeter Advisory Group, takes us through the mindset of a prospective buyer when sizing up a beverage-alcohol acquisition. Menashe outlines the best models for brands to attract buyers and scale their growth long-term.
Robin Robinson, Founder of Robin Robinson LLC, provides a clear definition of sales and explains how it translates to pitching a brand to retailers. Robinson discusses the importance of systematizing your approach to sales and why creating a system that can be replicated and leads to predictable outcomes leads to continued success for your brand.
Kristen Bareuther, Managing Director at First Bev, outlines how private equity investors size up a potential beverage-alcohol deal. She walks us through the key tenets that brands must refine to position themselves as attractive investment candidates.
Sarah Nagel Sisisky, Park Streets Director of Client Development, walks us through some strategies for growing a sphere of influence. Sisisky discusses ways to generate awareness with a distributor by promoting high gross margins, establishing authentic connections, and more.
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