Adam Romanow

The trend of spirits distributors getting into beer distribution is continuing. The latest is New Jersey's Fedway Associates is acquiring A-B house Ritchie & Page Distributing Co. and will former Jersey Beverage Network.

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The Garden State Wine Growers Association (GSWGA) represents the New Jersey wine community annually at the New Jersey Agriculture Convention. Joining over 90 delegates and agricultural leaders from across the state for insightful panels, meaningful conversations, and collaboration, we focused on the future of New Jersey agriculture and wine. Our friends at Farm Credit East have provided generous support and education during our monthly GSWGA meeting held at the convention, and we look forward to their impactful Wine Benchmarks Program. Farm Credit East provides significant support to the Northeast wine and grape industry through its specialized Winery Benchmarks Program. This program helps winery and cidery businesses compare their financial and operational performance against industry peers, offering in-depth analysis to improve on many fronts. Cheers to all that's ahead for the NJ wine community and our partners! #farmcrediteast #agconvention #newjerseywine #newjerseywines #agritourism Farm Credit East, ACA Jersey Fresh New Jersey Department of Agriculture

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NextFoods, Inc. ,Parents of GoodBelly+ Cheribundi just raised $10M led by ECP Growth If you build in functional CPG, this is a great mini case study in how growth actually gets funded and what operators should pay attention to. 1) Doors matter… but turns are the business They’re reportedly sitting at 24,000+ points of distribution nationwide and grew footprint about 10% in the last two months. That’s solid. But here’s the real lesson: door growth only works if velocity shows up. 2) A brand refresh can be a revenue lever (when it creates clarity) GoodBelly’s recent packaging/brand refresh was tied to a reported 40%+ lift in retail velocities. “Brand” isn’t colors and fonts it’s speed of understanding at shelf. If a shopper gets it faster, conversion goes up. Period. 3) The shot category is crowded so specificity wins GoodBelly reformulated its 2oz Wellness Shots and launched them nationally at Whole Foods. The formula callout that jumped out to me: 3g of prebiotic fiber. The lesson: in crowded formats, you can’t be “general wellness.” You need to own a job (gut, sleep, recovery) and build your product + messaging around that single outcome. 4) Innovation + retail expansion is the 1–2 punch They’re aiming that capital at innovation across gut health, recovery, and sleep, while also pushing deeper into national retail. And there’s more in the pipeline: they’ve previewed a quart-sized GoodBelly item with 11g plant-based protein targeted for Q1 2026. My founder takeaway: capital doesn’t fix a business it amplifies it. If your positioning is crisp and your product delivers, funding helps you scale faster. If not, it just helps you burn faster. If you were deploying $10M in functional CPG heading into 2026, what’s first: velocity, innovation, or sharper positioning? #CPG #FunctionalBeverages #Wellness #TrevorHague

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A new report out of New York highlights the evolving balance between wine, liquor, and cannabis sales — and regulators are paying attention. That framing matters. We’re not looking at isolated categories anymore. We’re looking at overlapping demand pools. Here’s the signal: • Wine and spirits sales softening in certain channels • Cannabis sales continuing to expand • Policymakers tracking cross-category impact No collapse headlines. No dramatic declarations. Just measurable migration. The sharper question: Is this true substitution — or broader discretionary tightening? Alcohol and cannabis now compete for: • The same consumer wallet • The same social occasions • The same regulatory attention When disposable income tightens, consumers prioritize. Sometimes that means fewer drinks. Sometimes it means switching categories. Sometimes it means pacing both. This isn’t a morality discussion. It’s market mechanics. If cannabis gains regulatory clarity and retail expansion while alcohol remains structurally constrained, asymmetry emerges. And asymmetry reshapes share. For Producers: Occasion defense matters more than ever. Brand loyalty must translate into repeat behavior, not just awareness. For Distributors: Portfolio diversification is becoming risk mitigation. For On-Premise: Consumer pacing trends will determine menu architecture. The broader takeaway? Categories aren’t collapsing. They’re competing more directly. The next cycle won’t reward isolation inside a single vertical. It will reward operators who understand where demand is migrating — and why. Market access is evolving. And the brands that read that signal early will move faster. #BeverageIndustry #Spirits #Wine #Cannabis #AlcoholMarkets

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GALLO TO ACQUIRE FOUR ROSES FOR $715M GALLO will buy Four Roses Distillery from Kirin in a $715M deal with a $50M earn-out. In October Four Roses was rumored to be exploring a sale for $1B, the current price is quite a markdown, though not surprising. Four Roses was acquired by Kirin in 2002, in 25Q3 it reported sales of $120M. With a multiple of 5.96x sales, the deal still comes at a premium over comparable Alc transactions. This marks the return of Four Roses to American hands. Gallo, founded in 1933, is a $5B distillery that made its first move into American Whiskey by investing in Horse Soldier Bourbon Weird amt of activity in whisky lately lol. Some comps include: - ILLVA SARONNO HOLDING S.p.A. ’s $117M acquisition of Averna (3.82x sales) - AB InBev's $576M acquisition of BeatBox (2.56x sales) - Gruppo Caffo 1915's $117M acquisition of Cinzano & Frattina (1.33x sales)

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The National Restaurant Association released its highly anticipated 2026 What’s Hot Culinary Forecast, highlighting the trends set to shape America’s menus in the coming year. The report, based on insights from hundreds of culinary professionals surveyed in October 2025, reveals that nostalgia, comfort and “flavor escapism” are defining consumer desires in 2026. From smashed burgers and Caribbean curry bowls to protein-packed meals and low-alcohol drinks, this year’s report shows that diners are craving fusions of past trends and modern flavors. Familiar favorites are being reimagined with global influences, while wellness and affordability remain top of mind for consumers. To see the press release and to download the report, click here: https://lnkd.in/e2h3hNqA.

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🚨 Anheuser-Busch Announces It Will Close Two Breweries and Sell Another Anheuser-Busch InBev (ABI) will close two of its breweries and sell another, Brewbound reported today. ABI is selling its Newark, New Jersey location to property developer Goodman Group and will end operations at its Merrimack, New Hampshire and Fairfield, California facilities next year. The shutterings will lower the beverage conglomerate’s brewery count to nine. ABI cited updates to production at other facilities as the reason for the consolidation. More details at the link in comments...

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My colleague Lauren Fernandez wrote a great piece the other day about the upcoming patent cliff for GLP-1s (link in comments). In it, she implied that we are probably underestimating the long-term impact on consumer habits and how it will shape the future of restaurants. I agree. Another under-reported trend was captured by Numerator in their analysis of behavior patterns in QSR. "This study looked at 2+ person households with a GLP-1 user vs. non-user households. The metric was change in trips YOY. While McDonald's user households lagged all households, it was still net positive and outpaced the channel. CFA and Dominos over-performed...Starbucks with a major underperform. Is it feasible that less spend/consumption associated with a single individual in a household could result in a change in engagement for others in that same household? This chart isn't an absolute yes, but it's directional enough to explore further. There are always more layers to the story, especially when the story is in the early chapters like GLP-1 is." To me, this speaks to the importance of BRAND. These consumers don't need any more "me too" offerings - they're still interested in indulging, but it better be worth it. What's your take? #GLP1 #restaurants #QSR #brandmatters

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A Bryn Mawr wine distributor’s legal challenge against the Pennsylvania Liquor Control Board is drawing attention to long-standing issues in how wine reaches local restaurants. Click here to read 👉 https://ebx.sh/vmJha9