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  • 3Z Brands Buys Southerland, Good Word Goes Nationwide at WFM 🍪

3Z Brands Buys Southerland, Good Word Goes Nationwide at WFM 🍪

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CPG WIRE
December 17, 2024

Welcome back to This Week in CPG, folks. Here’s what we’re covering this morning:

  • PE buys stake in Tropical Cheese 🧀

  • Blackstone chases Indian snack maker 💵

  • De Nada Tequila grabs funding 🍹

  • Ocean Spray launches drink mixes 💦

  • Daily Crunch heads to Sprouts 📈

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Deals 💰

Mergers & Acquisitions 

  • AUA Private Equity and Avance Investment Management acquired a significant minority stake in Tropical Cheese, a leading Hispanic food brand with over 40 years of history. Tropical Cheese is a family-run purveyor of Hispanic cheese, meat, and other food products. PR Newswire

  • Blackstone is reportedly buying a 20% stake in Haldiram, an Indian snack maker that was founded in the 1930s, for $1.6B. Blackstone might be enlisting help from Singapore’s GIC and Abu Dhabi Investment Authority to get the deal done. Bloomberg

  • 3Z Brands, the owner of Helix Sleep and Brooklyn Bedding, has acquired mattress manufacturer Southerland for an undisclosed sum. Southerland was founded in 1893 and operates four manufacturing facilities in the U.S. PR Newswire

  • Post Holdings is reportedly working with bankers on a possible acquisition of Lamb Weston, a publicly traded producer of frozen fries, snacks, and appetizers. Lamb Weston currently has a market cap of $11.7B. Acquiring Lamb Weston would add nearly $1B of operating income to Post’s P&L. Reuters

Fundraising

  • It appears that better-for-you ramen brand immi raised another $3M in equity funding. The company last raised funding in 2023 when they secured $10M from the likes of Touch Capital, Palm Tree Crew, and Dave Grutman. SEC

  • De Nada Tequila secured an undisclosed amount of funding from a “notable sports team.” De Nada was founded in 2018 and differentiates via its fully recyclable aluminum bottle. BevNET

  • Asheville-based brewer Terra Nova Beer grabbed $1.5M in fresh equity funding from undisclosed investors on December 13th. Terra Nova Beer currently has a taproom in Asheville and another one in Swannanoa. SEC

What’s New 🤩

Apparel, Cosmetics, and Wellness

  • Vans opened a new concept store in London that features skateable architecture. The new store also doubles as a community hub focused on art, music, and skateboarding. This is a solid early step for VF Corp as they attempt to revive the Vans brand. Hypebeast

  • Luxury streetwear brand Represent is launching a collaborative 12-piece collection with Puma on December 18th. The collection features workout apparel, footwear, and accessories. The Industry

  • Alo Yoga opened its first store in Ireland. The new store is situated on Grafton Street in Dublin. Drapers

Food, Beverage, and Alcohol

  • Ocean Spray partnered with Dyla Brands to release a range of on-the-go drink mixes. Three flavors are available: Cran x Grape, White Cran x Peach, and White Cran x Strawberry. This is a smart move for Ocean Spray. The gross margins on these drink mixes are enormous and they’re a hell of a lot lighter to ship than RTDs. Also their drink mixes are positioned more as water enhancers, so they’re not competing with the likes of Liquid IV, Hydrant, LMNT, etc. PR Newswire

  • Athletic Brewing released two “cocktail-inspired” non-alc beers. 6-packs of Moscow Mule and Paloma are available exclusively via their website for $14.99. Dig it. Instagram

  • Spindrift unveiled their newest flavor, Cosnopolitan, which a non-alcoholic take on the classic cosmopolitan cocktail. The beverage features cranberry, orange, and lime which sounds pretty delicious. Instagram

  • Better-for-you breakfast brand Evergreen launched a festive new flavor with Jolly Ginger Bread Mini Waffles. The packaging looks fantastic. Instagram

  • Califia Farms released single-serve options for two of its most popular products: Matcha Almond Latte and Chai Almond Latte. Califia has tried various RTD formats over the years so perhaps this is the one that sticks. Food Business News

  • Superfoodio, a UK-based purveyor of peanut butter snacks, launched a new product line called Peanut Butter Better Cups. Three flavors are available. Instagram

  • DJ Steve Aoki was named Chief Snacking Officer at Cheddies. PR Newswire

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Data 🖥️

  • Conagra Brands released its Future of Frozen Food 2025 Report. Some interesting takeaways: a lot of consumers are enjoying frozen appetizers as meals, and sales of spicy frozen foods have skyrocketed recently. Conagra Brands

Distribution News 🚚