Big deal / “Beyond Beer”

• AB InBev moves to buy 85% of BeatBox (up to $490M, close expected Q1 2026), reinforcing RTD/FAB consolidation.

Beer remains soft, but share battles intensify

• Beer shipments down YoY; analysts see stabilization in pockets but continued declines overall.
• Category winners focus on execution, price/mix, and channel strength.

Spirits: trade-down + RTD boom

• Premium pressure shows up in tier data; meanwhile prepared cocktails/RTDs surge with standout brand growth.

Wine: supply correction + major WA ownership change

• Wyckoff Farms buys Ste. Michelle Wine Estates; broader U.S. wine still working through excess inventory and reduced crush expectations.

Channel shifts

• Value retail (Dollar General expansion) and grocery-policy debates point to distribution battlegrounds heading into 2026.

Regulatory watch

• Hemp-derived intoxicants face tighter scrutiny and a ticking clock toward Nov 2026, with competing proposals to define national standards.