Anheuser Courts BeatBox, Aplós Raises $5M 🍸

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CPG WIRE
November 20, 2025

GM and Happy Thursday, folks. Here’s what we’re covering this morning:

  • Suja Life files for IPO 📊

  • Miyoko’s Creamery finds new home 🧀

  • Freestyle Snacks wins on Shark Tank 🦈

  • Oddity launches brand #3 🧪

  • BellRing brings it in Q4 💪

Deals 💰

Mergers & Acquisitions 

  • Anheuser-Busch is reportedly close to acquiring RTD cocktail brand BeatBox for around $700M. BeatBox launched in 2011 and is best known for its bright Tetra-Pak vessels and high ABV cocktails. The company was on pace for $175M in revenue in 2024 and expects to do $250M in 2025. For Anheuser-Busch, acquiring BeatBox significantly expands their RTD cocktail portfolio which is already home to Cutwater Spirits and Nütrl. There are a number of scaled RTD cocktail assets out there — Surfside, Sprinter, and The Finnish Long Drink come to mind — and it’ll be interesting to see if the BeatBox acquisition kicks off a wave of M&A in the category. WSJ

  • Suja Life confidentially filed IPO paperwork with the SEC. The better-for-you beverage company owns Suja Organic, Vive Organic, and rebooted Slice Soda earlier this year. Paine Schwartz Partners, which has been on a roll over the past 18 months, acquired Suja Life in 2021 when the company was nearing $200M in annual revenue. Meaningful Partners is a co-investor in Suja Life alongside Paine Schwartz. GlobeNewswire

  • Prosperity Organic Foods, the parent company of plant-based butter brand Melt Organic, has acquired Miyoko’s Creamery for an undisclosed sum. Miyoko Schinner launched the vegan butter & cheese brand in 2014 but was pushed out of the company a few years ago. At the time of Schinner’s departure, Miyoko’s Creamery had a valuation of $260M. VegNews

  • Scottish beverage company AG Barr has acquired Strykk, a London-based non-alcoholic spirits brand. AG Barr originally purchased a 20% stake in Strykk’s parent company for £1M in 2019. The Spirits Business

Fundraising

  • Aplós, a functional, non-alcoholic spirits brand, secured $5M in equity funding from undisclosed investors. Founded by Emily Onkey and David Fudge, Aplós had a big year and added over 2,000 new retail doors. Their products also landed on the menu at Atelier Crenn, Soho House, COTE, and a variety of other hospitality venues. The non-alc wine & spirits category has been on a roll in terms of fundraising. More on that at the link. LinkedIn

  • Freestyle Snacks scored a $300K investment from Poppi co-founder Allison Ellsworth on Shark Tank. The company sells a variety of on-the-go pickle and olive snacks. Freestyle Snacks expects FY sales to land between $4-5M this year. Food Business News

A Message From Matriarch 📈

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We work closely with founders and executives, often before a liquidity event, to optimize balance sheet efficiency, manage corporate cash, and implement tax forward planning.

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What’s New 🤩

Apparel, Cosmetics, and Wellness

  • Oddity, the consumer tech firm that created IL MAKIAGE and SpoiledChild, expanded into medical-grade skincare with Methodiq, a new dermatology telehealth platform. Methodiq currently offers treatments for acne, eczema, and hyperpigmentation. With roughly 30 million Americans suffering from eczema and another 50 million dealing with acne, the dermatology telehealth opportunity is enormous. CNBC

  • California Naturals launched a great-looking line of Hydrating Lip Balms. The product is formulated with coconut oil and aloe instead of petroleum and synthetic fragrances. Two scents are available: Summer Fig and Toasted Coconut. California Naturals has graduated from masstige haircare and is now officially a platform. Instagram

  • Coterie, the recently acquired purveyor of diapers and baby wipes, joined forces with DONNI to launch an apparel collection for moms, babies, and toddlers. Another excellent, win-win collab. Instagram

  • Fazit is feeling festive and expanded their eye collection with Holly Eye Wings. Instagram

  • Beloved Korean beauty retailer Olive Young is officially coming to the United States. Olive Young, which was founded in 1999, operates a network of 1,300+ stores across Souh Korea. The company’s first flagship store in the U.S. will be located in Pasadena. Store #2 will open at Westfield Century City in May 2026. Business of Fashion

  • Dairy Boy, the popular apparel & lifestyle brand founded by Paige Lorenze, could be entering the fragrance category in the very near future. Instagram

Food, Beverage, and Alcohol

  • Fast-growing protein bar brand BUILT opened a manufacturing and distribution facility in Provo, Utah. The 132,000-square-foot space will support up to 500 new jobs. BUILT operates another manufacturing facility up the road in American Fork, Utah. PR Newswire

  • Lucky Energy collaborated with reality TV star Brittany Cartwright on a limited-edition Strawberry Lemonade flavor called “Rawt in Hail.” This is a fun, well-executed collab and a great way to introduce Lucky Energy to the Bravo crowd. Stack3d

  • Better-for-you candy brand Rotten just dropped a new product: Spicy Sour Gummy Cruncheez. The new flavor is available exclusively at Sprouts and via their website. Instagram

  • Monster Beverage (NASDAQ: MNST) is gearing up to launch its first spirits-based RTD cocktail brand in 2026. Just Vibe is a 4.5% ABV hard refresher that’s made with vodka and real juice. It looks like four flavors will be available at launch. Twitter

  • Clebby’s is a new hemp-derived cannabis baking mix brand. The company, founded by 24-year-old Sabrina Clebnik, offers five different baking mixes: Confetti Cake, Chocolate Chip Cookies, Lemon Pound Cake, Triple Chocolate Brownie, and Banana Bread. The packaging is excellent. The window cut-out to display the infused cooking oil is a nice touch as well. PR Newswire

Data 🖥️

  • BellRing Brands — the owner of Premier Protein, Dymatize, and PowerBar — had a very solid Q4 as net sales jumped 16.6% to just over $648M. Premier Protein net sales increased by 14.9% while Dymatize net sales surged by 32.9%. BellRing Brands

Distribution News 🚚

  • Bloom launched their energy line at Buc-ee’s.

  • Wavers officially launched at Safeway.

  • Alice Mushrooms rolled out at Raley’s.

  • Marlow is launching at Shoppers Drug Mart.

  • Jubilee’s launched at 52 Raley’s stores.