Bill Edwards, formerly with Southern Glazer’s Wine & Spirits, has joined the company.

The maker of Budweiser and Corona said its results confirmed the resilience of the beer market in the face of economic challenges, notably inflation.>

PepsiCo said investments made in its brands, consumer insights, manufacturing and go-to-market execution are fueling growth across the portfolio.

The market is seeing an increase in growth but is limited by a number of regulatory factors.

The company purchased a 78% stake, with the remaining shares continuing to be held by its founder, David Smith, and current investors.

With a CAGR of 12.07%, Bonafide Research estimates this market will be valued at more than $361 billion by 2027.

Ronald Dissinger was appointed by the company’s board of directors to serve as director until the company’s next annual stockholders meeting.

The company released a new type of coating to meet new regulations.

The new beverage is made from natural juice flavors and single-origin, full-spectrum, sun-grown cannabis rosin from Santa Barbara County.

The soda alternative will launching two new flavors later in 2023 for a total of five that are derived from natural plant extracts.