L'Oreal Weighs Amouage Investment, Diageo Bets on Indian Spirits 🇮🇳

CPG WIRE
April 06, 2024

GM and Happy Saturday, folks. We have some exciting headlines to sink our teeth into so let’s dive right in:

Deals 💰

Mergers & Acquisitions

French beauty giant L’Oreal is considering a potential investment in Amouage, an Omani luxury fragrance brand. Founded in 1983, Amouage surpassed $210M in retail sales in 2023 and is valued at $3.2B. L’Oreal has been on an acquisition spree lately. In addition to buying Aesop for $2.5B last year, they also purchased Gjosa and Danish research firm Lactobio. Bloomberg
Diageo has acquired a 15% stake in Inspired Hospitality, the India-based parent company of premium agave spirits brand Pistola. Diageo made the investment via United Spirits, its India division. Pistola’s packaging is pretty great IMO 👇 Just Drinks

Manzanita Capital is exploring a £400M sale of beauty retailer Space NK. Manzanita first invested in Space NK in 2002 and scaled the premium beauty retailer to 76 stores. Manzanita also owns Diptyque, Malin + Goetz, and Susanne Kaufmann. The Industry

Fundraising

Per a recent SEC filing, Seattle-based Theo Chocolate secured $8.6M in equity funding from undisclosed investors. Last year Theo Chocolate closed its manufacturing facility and announced a merger with Indiana-based American Licorice Company. It sounds like Theo Chocolate is preparing for its next phase of growth. SEC
Flyers Cocktail Co., a producer of THC & CBD canned cocktails, closed a seed funding round led by Delta Emerald Ventures. The New York-based brand launched in 2021. BevNET

Apparel, Cosmetics, and Wellness

Rokael Lizama, the celebrity makeup artist behind Beyonce’s Cowboy Carter look, launched a new makeup brand called Rokael Beauty. The affordably priced brand debuted with a number of lip and lash products. WWD
Popular fragrance brand Diptyque released a limited edition candle collaboration with Cafe Verlet, a French purveyor of coffee, tea, and sweets since 1880. New scents include Biscuit, Cafe, Chantilly, and Fruits Confit. Bon Appétit
Aussie suncare brand Naked Sundays launched a new product called SPF 50 CabanaClear Water Gel Serum. It’s a beauty. Naked Sundays

Food, Beverage, and Alcohol

Just Design FX facilitated a fantastic brand refresh for Elavi, a Los Angeles-based maker of dessert cashew spreads. They crushed it IMO 👇 Just Design FX

It turns out that Momofuku has been using its deep pockets to bully competitors with cease-and-desist letters. Protecting your trademarks and other critical intellectual property is one thing, but being a litigious asshole is another thing entirely. The Guardian
Almave, the non-alc agave spirits brand founded by Lewis Hamilton and Casa Lumbre, launched a new product — Almave Blanco. Stunning bottle and label. Instagram
PLAY HARD, the RTD vodka seltzer brand from Playboy Spirits, announced a partnership with the Chicago White Sox. PLAY HARD will be the team’s official RTD sponsor. PR Newswire

Starco Brands — the owner of Art of Sport, Whipshots, Skylar Clean Beauty, and Soylent — had a very strong 2023. Net revenue surged 735% to $65.2M while adjusted EDITDA jumped 304% to $6.2M. Starco expects revenue and EBITDA gains to be more modest in fiscal 2024. Business Wire

Plant-based protein bar brand Mezcla launched at Harmons in Utah.
Gut-friendly iced tea brand Halfday launched at Wawa.
Cove launched its BFY soda line at 530 Costco stores across the U.S.
Aussie beauty brand MCoBeauty launched at Kroger.
Energy drink brand Juvee teased an upcoming launch at Target.
SideDish landed storewide at Harris Teeter.
PRIME is now available at RaceTrac.
Recover 180 Organic Hydration is launching nationwide at Whole Foods Market.