Carolina Beverage Corporation

What Carolina Beverage Corporation does

Carolina Beverage Corporation is a privately held, fourth-generation soft drink manufacturer founded in 1917 and headquartered in Salisbury, North Carolina, operating under the flagship Cheerwine brand. The company's core technology is a proprietary carbonated soft drink formulation built around a distinctive cherry flavor profile, produced in multiple formats including cane-sugar glass bottles, HFCS cans, mini cans, 2-liter bottles, and a zero-sugar variant sweetened with a Sucralose/Splenda blend. Beyond beverages, the product portfolio extends to Cheerwine Syrup (a recipe ingredient for BBQ sauces, marinades, desserts, and cocktails) and seasonal SKUs such as Cheerwine Holiday Punch. Registered trademarks cover the core Cheerwine, Cheerwine Zero Sugar, and Cheerwine Holiday Punch brand identities.

The company operates a multi-channel go-to-market combining foodservice, retail grocery, direct-to-consumer e-commerce, and bulk warehouse pickup. The foodservice motion is sales-led, targeting BBQ and Southern cuisine restaurants where Cheerwine is ranked #1, with anchor accounts including Cook Out, Bojangles, Cracker Barrel, and Biscuitville. Retail distribution reaches specialty and regional chains (Cost Plus World Market, The Fresh Market, Cracker Barrel General Stores). A DTC storefront (store.cheerwine.com) sells beverages alongside branded apparel, merchandise, and gift bundles with shipping within the USA, complemented by in-person pickup at headquarters and warehouse locations across North Carolina and South Carolina. Marketing is community-driven via the annual Cheerwine Festival in Salisbury, a Fan Club/CRM program, recipe content, NC State Fair participation, and a flagship co-marketing partnership with Little Debbie.

Revenue mechanics rely primarily on wholesale beverage sales through foodservice and retail at price points ranging from $7.50 for a 10-pack of mini cans to $34 for a 24-pack of Zero Sugar glass bottles, with merchandise and apparel as a smaller secondary stream. Customer concentration sits in restaurant channels (thousands of accounts plus named enterprise chains) with additional long-tail volume from retail and DTC. The company employs 251-500 people, has no parent company, has no disclosed funding rounds or M&A activity, and is actively operating as a going concern. Competitive moat rests on 108 years of brand heritage, the proprietary cherry flavor profile, regional Southern loyalty, restaurant foodservice entrenchment in BBQ, and an expanding ecosystem of community events, recipes, and co-branded promotions.

Name

Carolina Beverage Corporation

Legal name

Carolina Beverage Corporation

Website

https://cheerwine.com

Company type

Private

Founded year

1917

Operating status

Operating

Headcount range

251–500 employees

Short description

Carolina Beverage Corporation, founded in 1917 in Salisbury, NC, manufactures and sells Cheerwine — a proprietary cherry-flavored carbonated soft drink — through foodservice (BBQ and Southern chains), retail grocery, direct-to-consumer e-commerce, and bulk warehouse distribution across the Southeastern United States.

Ownership category

akta.pro rank

Product category

Carbonated Soft Drinks

NAICS

Soft Drink Manufacturing (312111), Soft Drink and Ice Manufacturing (31211), Beverage Manufacturing (3121)

SIC

Bottled & Canned Soft Drinks & Carbonated Waters (2086), Beverages (2080)

akta.pro primary industry

Soft Drink & Carbonated Beverage Syrups (AFAFAGAA)

Keywords

• Carbonated soft drinks
• Cherry soda
• Soft drink manufacturing
• Beverage bottling
• Soda distribution

Headquarters

HQ city

Salisbury

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Beverage Product Sales: Cheerwine generates primary revenue from selling its core soft drink products through multiple channels including retail stores, restaurants, and direct-to-consumer online sales. Products include Cheerwine in various formats (glass bottles, cans, mini cans, 2-liter), Cheerwine Zero Sugar, and seasonal Holiday Punch.
2. Merchandise and Apparel: Direct-to-consumer sales of branded merchandise including apparel (t-shirts, hats, socks, hoodies), accessories (lip balm, koozies, decals), home goods (clocks, signs), and specialty items (Syrup, gift sets). Online store offers free shipping on apparel items.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

Carolina Beverage Corporation manufactures and distributes Cheerwine, a proprietary cherry-flavored carbonated soft drink introduced in 1917, available in cans, glass bottles, mini cans, and 2-liter formats. The company also sells Cheerwine Zero Sugar (sucralose-sweetened), seasonal Cheerwine Holiday Punch, Cheerwine Syrup for recipes, and a range of branded apparel, accessories, and home goods through its direct-to-consumer store.

Differentiator

Problem solved

Functional benefit

Brands

• Cheerwine Zero Sugar: Zero calorie version of Cheerwine, formerly known as Diet Cheerwine, using Sucralose/Splenda blend sweetener.

Products and services

• Cheerwine Original Soft Drink Carolina Beverage's flagship proprietary cherry-flavored carbonated soft drink, produced since 1917 and sold in cans, glass bottles, mini cans, and 2-liter formats for at-home and on-the-go consumption by individual consumers and foodservice partners.
• Cheerwine Zero Sugar Zero-calorie, sugar-free version of Cheerwine sweetened with a Sucralose blend, marketed for consumers seeking a diet soft drink without aspartame. Available in cans and glass bottles.
• Cheerwine Holiday Punch Seasonal holiday-themed Cheerwine beverage product sold as a limited-time offering during the holiday season.
• Cheerwine Syrup A 16.9oz bottle of concentrated Cheerwine syrup intended for use as a recipe ingredient in BBQ sauces, marinades, cocktails, cakes, and ice cream — not for direct consumption.
• Cheerwine Branded Apparel Branded Cheerwine apparel including retro T-shirts, hoodies, crewneck sweatshirts, trucker hats, and novelty socks, sold direct-to-consumer via store.cheerwine.com.
• Cheerwine Branded Merchandise and Gifts Cheerwine-branded merchandise including lip balms, koozies, decals, license plates, bottle-cap signs, neon clocks, and other gifts sold direct-to-consumer via store.cheerwine.com.

Quantifiable outcome

• 8 consecutive years of volume growth per outlet
• +1 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Eight partnerships are on record, tiered core, minor and flagship.

• Cook OutcoreChannel Partner/ Reseller/ DistributorRestaurant chain partner where Cheerwine is often the #1 selling brand. Featured on the Cheerwine contact-sales page as a key partner example.
• BojanglescoreChannel Partner/ Reseller/ DistributorMajor Southern restaurant chain partner. Featured as key partner on Cheerwine contact-sales page highlighting restaurant distribution success.
• Cracker BarrelcoreChannel Partner/ Reseller/ DistributorCracker Barrel General Stores carry Cheerwine glass bottles at all locations. Highlighted as a retail partner carrying the glass bottle format.
• BiscuitvillecoreChannel Partner/ Reseller/ DistributorRestaurant chain partner featured as a key restaurant distribution partner on the Cheerwine contact-sales page.
• Carolina BottlingminorChannel Partner/ Reseller/ DistributorWarehouse location in Fletcher, NC for bulk Cheerwine order pickup for events and weddings.
• Piedmont Cheerwine BottlingminorChannel Partner/ Reseller/ DistributorWarehouse location in Colfax, NC for bulk Cheerwine order pickup.
• Quality BeverageminorChannel Partner/ Reseller/ DistributorWarehouse locations in Leland, NC and Greenville, SC for bulk Cheerwine order pickup.
• Little DebbieflagshipGTM or Marketing PartnerJoint promotional campaigns leveraging both brands' Southern heritage. Includes seasonal giveaways for Valentine's Day, Spring, and Holiday seasons. Crossover recipes featuring both brands (e.g., Christmas Tree Cakes Cheerwine Dip, Cheerwine Goo Goo Clusters).

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• PepsiCo: PepsiCo is the second major CSD incumbent and the typical competitor for restaurant chain beverage contracts. Several of Cheerwine's named chain partners (Bojangles, Cook Out) primarily stock Pepsi products, defining the competitive perimeter Cheerwine must operate within.
• The Coca-Cola Company: Coca-Cola is the dominant CSD incumbent and effectively sets fountain, retail, and foodservice relationships against which Cheerwine competes for shelf and tap placement across its accounts.
• Keurig Dr Pepper: Keurig Dr Pepper is a major non-alcoholic beverage incumbent that owns Dr Pepper, RC Cola, and other heritage CSD brands. It represents the broader competitive set Cheerwine must navigate in retail and foodservice accounts.

Emerging players

• Jones Soda Co. Jones is a craft soda brand known for bold flavors, glass bottles, a strong DTC/merch channel, and loyal niche following. Like Cheerwine, it sells directly to consumers online and competes on differentiation rather than scale.
• Boylan Bottling Co. Boylan is a craft heritage soda maker emphasizing glass bottles, cane sugar, and premium positioning. Comparable to Cheerwine in its cane-sugar/glass-bottle heritage cues and restaurant/gourmet retail channel focus.
• Sprecher Brewing Company: Sprecher produces craft heritage sodas with a strong regional Wisconsin base and emphasis on recipes and on-tap service. Similar to Cheerwine in operating both retail and foodservice channels with a distinctive flavor line.

Direct peers

• Ale-8-One Bottling Company: Kentucky-based, family-owned regional soft drink with a proprietary formula dating back over a century. Comparable to Cheerwine in being a private, heritage, single-flavor brand with strong regional loyalty and grassroots marketing.
• Royal Crown Cola (Keurig Dr Pepper): RC Cola is a vintage American cola brand marketed as a regional heritage soft drink. While now owned by a larger company, its positioning around an original/heritage recipe with regional flavor variants is directly comparable to Cheerwine's positioning.
• Moxie (Coca-Cola): Moxie is a heritage New England soft drink with a distinctive, polarizing flavor and a devoted regional base — the closest analog to Cheerwine in terms of leveraging a unique regional taste and 100+ year brand story.
• Big Red Inc. Big Red is a regional heritage soft drink with a proprietary bubblegum/cherry-forward flavor profile, private ownership, Southern and Texas distribution roots, and mixed-format bottling (cans, glass, fountain). Closely mirrors Cheerwine's combination of a unique flavor, regional loyalty, and family-style ownership.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/CheerwineLegend
• Facebookfacebook.com/cheerwine
• Instagraminstagram.com/drinkcheerwine
• TikToktiktok.com/@drinkcheerwine
• Pinterestpinterest.com/drinkcheerwine
• Xx.com/drinkcheerwine
• LinkedInlinkedin.com/company/carolina-beverage-corporation

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Carolina Beverage Corporation