Bobbie Hits Major Milestone 📈

GM and Happy Thursday, folks. Since it’s almost the weekend, I decided to open up the premium newsletter to everyone. If you’d like to receive the premium newsletter moving forward, you can do so here.

Here’s what we’re getting into this morning:

• Bobbie lands funding, buys competitor 📈

• Whitebox secures funding to expand 🍸

• Kim Kardashian stays busy 💰

• Porsche x Backdrop 🎨

• Anchor Brewing shuts down 🍺

• Little Sesame goes nationwide at WFM 💯

The Big Story 📰

Bobbie, the organic infant formula brand founded by Laura Modi and Sarah Hardy in 2019, hit a major milestone yesterday.

In addition to raising $70m in Series C funding from the likes of PowerPlant Partners and Ingeborg Investments, Bobbie announced its acquisition of Nature’s One, an Ohio-based manufacturer of pediatric nutrition products and the owner of Baby’s Only, a popular infant formula brand.

With its acquisition of Nature’s One, Bobbie is now the third-largest fully integrated infant formula brand in the United States, an impressive feat for such a young brand in a highly regulated market.

Bobbie continues to grow fast and prove that it’s a robust brand and business, and not just a darling of the infant formula shortage, too. The brand grew 394% year-over-year and reached the $100m in annual revenue milestone.

More on the fundraise here.

Deals 💰

Mergers & Acquisitions 

• Kim Kardashian is reportedly in talks with Coty to buy back the 20% stake it owns in SKKN BY KIM, the skincare brand that Kardashian launched alongside Coty in June of 2022. WSJ

Fundraising

• More Kardashian consumer news…shapewear brand SKIMS is reportedly chasing a $4B valuation in its pre-IPO fundraising round. Early last year, SKIMS raised $240m at a $2.96B valuation. WWD

• Whitebox Cocktails, a popular Scottish ready-to-drink cocktail brand, raised over £550K from 305 investors on crowdfunding platform Seedrs. The company will use the funds to expand their retail presence in the UK and launch in the U.S. Seedrs

• London-based clean fragrance brand Sana Jardin raised another $2m from existing investors. The brand, founded in 2017 by Amy Christiansen, differentiates via ingredient transparency and by supporting female farmers in the perfume supply chain. The funding will be used to expand their presence in the U.S. WWD

• Coca-Cola and Greycroft partnered on a new $137.7m venture fund to back startups focused on sustainability. The Greycroft Coca-Cola System Sustainability Fund will invest in startups that can help Coca-Cola lower its carbon footprint. Business Wire

• UK-based personal care brand Faith in Nature raised over £610K on crowdfunding platform Crowdcube. For 2022, the company generated revenue of £14.8m and EBITDA of £474K. The Industry

What’s New 🤩

Apparel, Cosmetics, and Wellness

• Loved01, the feeble skincare brand that John Legend founded alongside brand incubator A Frame, will open a pop-up in Los Angeles from July 21st thru August 6th. A Frame has developed some great brands like KINLO and Proudly, so I’m not sure why Loved01 feels so utterly phoned in. WWD

• Briogeo, the popular haircare brand that Wella Company acquired last April, launched a new hair + scalp serum called Destined for Density. The leave-on daily serum is clinically proven to increase hair density by 3x. Briogeo

• A very fun collaboration…Porsche partnered with DTC paint brand Backdrop on limited edition paint palette to celebrate 75 years of Porsche. Love it. Backdrop

• Ayesha Curry introduced a clean skincare brand that celebrates her Jamaican heritage — Sweet July Skin. Curry has established herself as a formidable businessperson. Constellation Brands acquired her wine brand, Domaine Curry, late last month. Vogue

• Julia Haart, the 52-year-old former CEO of Elite Model Management, relaunched her luxury shapewear line. NewBeauty

Food, Beverage, and Alcohol

• SideDish, the better-for-you salad dressing brand founded by popular recipe developer Alex Snodgrass, unveiled its fourth flavor — Southwest. Their products are terrific (especially their Creamy Sesame dressing). Instagram

• After 127 years in business, San Francisco-based Anchor Brewing is closing down. The company cited declining sales and pandemic-related difficulties. Sapporo acquired the brand in 2017 for $85m, and I hope they find a suitable home for America’s first craft brewery. NYT

• Paul Feig, the American film director behind Bridesmaids and the 2016 Ghostbusters reboot, quietly launched a gin brand in 2021 called Artingstall’s Gin. Good-looking bottle. The Spirits Business

• West Texas distillery The Marfa Spirit Co. announced two limited release sotol-based spirits — Desert Melaza and Desert Mezcla. Their bottles always look great. Twitter

• Penfolds, the Australian wine producer that launched in 1844, announced its first-ever Creative Partner — Japanese fashion designer and music producer NIGO. Hypebeast

Data 🖥️

• Supergoop, the Blackstone-backed suncare brand that Holly Thaggard launched in 2007, surpassed $250m in revenue last year, a year-over-year increase of 65%. A big win for San Antonio’s CPG ecosystem. WWD

Distribution News 🚚

• Little Sesame launched their hummus nationwide at Whole Foods Market.

• Craft cocktail brand Thomas Ashbourne launched at 800 Kroger stores.

• Zab’s Hot Sauce is now available at Wegmans.

• KimChi Chic Beauty is now available at JCPenney.

• Kooshy Croutons launched at Whole Foods Market.