Rishi Padhi

THE 2026 ALCOHOL “TRENDS” LIST IS OUT — HERE’S WHAT ACTUALLY MATTERS Forbes’ annual look at U.S. alcohol trends for 2026 outlines familiar but important forces shaping the market: moderation continuing to normalize, premium spirits holding relevance but facing more scrutiny, ongoing growth in RTDs and spirits-adjacent formats, and increasing overlap across beer, wine, spirits, NA, and adjacent categories. The article also notes a more price-conscious consumer, fewer impulse purchases, and a broader shift toward value and intentional choice as shelves and menus continue to converge into a wider “adult beverage” set. Those signals matter — but not for the reasons trend lists usually suggest. Every year, the headlines focus on what’s new: new formats, new categories, new buzzwords. What tends to get lost is what actually drives decisions once someone is standing at a shelf, a bar, or scrolling on their phone. Most drinkers don’t follow trends. They follow occasions. What keeps showing up beneath all the predictions: People want clarity, not complexity They want drinks that fit a moment, not a manifesto They’re choosing with context and convenience, not tasting notes And they’re still gathering — just differently than before Yes, moderation is real. Yes, RTDs and adjacencies keep evolving. Yes, price sensitivity matters more than it did five years ago. But none of that replaces the core truth of this industry: The drink is the handshake. The moment is the reason. As categories blur, competition shifts. Bottles aren’t just competing within their segment anymore — they’re competing against anything else that promises a similar feeling, pace, or experience. That’s why 2026 looks less like a breakout year and more like a sorting year. The brands and venues that win won’t be the ones chasing every trend. They’ll be the ones that help people answer a simple question faster: What should I drink right now, for this moment — and why will I enjoy it? When discovery gets easier. When flavor feels intuitive. When the experience fits real life. People don’t drink more. They drink better. People remember how it fit the moment.

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Why Hain needed to sell its snack business Contrary to popular belief, Hain's divestiture is not an indictment on the future of snacking, the penetration of healthier snacks in the age of MAHA, or the ability of upstart brands to disrupt the marketplace. It's basic economics: Over the past year, Hain's leverage ratio (net debt/earnings) has increased from 3.7X to 4.7X. It's a function mostly of earnings declining 26% with only marginal improvement in net debt. Most investment grade firms have a target leverage ratio of ~ 2.5X and Hain has publicly set a target of 3.0. To reach its target, Hain has to generate $225M in debt reduction at current Ebitda levels. Holding Ebita at current levels is, of course, a huge assumption given prior performance. With increasing pressure on the balance sheet, Hain had to take a decision. The price paid for the snacks business is a sunk cost. The 20% decline of the snacks business in FY2025 on top of the 5% decline the previous year suggests that major investment, at the expense of its other categories with better growth prospects, would be required. Divesting the snacks business was an obvious choice, and I applaud the CEO and Board for taking decisive action.

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GENERAL MILLS SELLS MUIR GLEN TO VIOLET FOODS Violet Foods, a portfolio company of Amphora Equity Partners, has acquired Muir Glen from General Mills. Financials undisclosed. General Mills acquired Muir Glenn in 2000 to expand into organic foods. The company divested Food Should Taste Good in 2023 and its North American yogurt business ($2.1B to Groupe Lactalis in 2025). Amphora is a F&B specialist PE firm launched in 2025 by two Brynwood Partners veterans and has been moving aggressively in the tomato category acquiring Don Pepino and Sclafani from B&G Foods Inc.. Another deal on the wave of CPG conglomerates shedding smaller, mature assets while PE firms capitalize on these carve-out opportunities. Similar PE carve-outs are: - General Mills selling Helper and Suddenly to Eagle Family Foods for $610M (2.60x sales) - Conagra Brands selling Chef Boyardee to Brynwood for $600M (1.33x sales) - B&G Foods acquired College Inn & Kitchen Basics for $100M for 2.2x ebitda

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AI is officially accelerating the future of gut health. 🧬 Ingredion Incorporated is taking a major leap into the future of food R&D through two new AI-driven partnerships with Shiru and Philip Strandwitz from Holobiome . As consumer demand for fiber and functional benefits skyrockets, these collaborations aim to transform how we discover and validate the next generation of prebiotics. • Validation with Holobiome Leveraging a database of 2 million gut bacterial genomes to predict exactly how these new ingredients will behave in the human microbiome. #FoodTech #AI #GutHealth #Innovation #Ingredients #FoodIndustry #Sustainability #Microbiome

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