Chamberlain Coffee Scores Funding, Hims & Hers Debut GLP-1 💉

CPG WIRE
May 21, 2024

Welcome back to This Week in CPG, folks. Hope y’all had a relaxing weekend. Let’s dive into the newsletter:

Deals 💰

Mergers & Acquisitions

Quadrant Private Equity is looking to sell Darrell Lea, an Australian confectionery group that could fetch as much as $1B AU (roughly 11x EBITDA). Quadrant acquired a majority stake in the chocolate and licorice maker in 2018 for around $200M AU. Just Food

Fundraising

According to a recent SEC filing, Chamberlain Coffee secured $4.6M in fresh equity funding. The investors weren’t disclosed but the company plans on raising a total of $7M. Chamberlain’s previous investors include Blazar Capital, UTA, Volition Capital, L.A. Libations, and others. SEC
Proper Good, a purveyor of ready-to-eat soups and overnight oats, raised $12M in equity funding. The round was co-led by existing investors YETI Capital and The Artisan Group. Starfund, AG Collective Capital, MJR Ventures, and Doug Bouton also participated. SEC
FoodNerd, a producer of nutrient-dense snacks for toddlers, secured $2.9M in debt & equity funding from undisclosed investors. The Buffalo-based company was founded by Sharon Cryan in 2017. SEC

Apparel, Cosmetics, and Wellness

Telehealth company Hims & Hers is now selling GLP-1 weight loss drugs for 85% less than brand-name competitors like Wegovy and Ozempic. Their solution will only cost $199 per month while Novo Nordisk’s Wegovy costs over $1,300 per month. Hims & Hers shares surged 30% following the announcement. Bloomberg
Ada Lip Beauty has rebranded as Fluency due to a trademark dispute. The new name and updated packaging are better anyways IMO. Beauty Independent
Supermodel Kate Moss is expanding her beauty empire after securing a trademark for a new cosmetics line that’s expected to include mascaras, eyeshadows, blushes, and lip glosses. The model previously launched a luxury beauty and wellness brand, COSMOSS, in 2022. The Industry

Food, Beverage, and Alcohol

Beloved overnight oats brand MUSH launched a new line of oatmeal smoothies for kids. Dubbed MUSHkins, the new line is available at Wegmans and MOM’s Organic Market. I’m not sure why they’re only targeting kids with this new line since MUSH squeeze packs would perform well with young professionals too. Instagram
UK-based beer brand JUBEL unveiled a sleek packaging refresh. Instagram
Bachan’s launched a new product — Hella Hot Japanese Barbecue Sauce — which is available exclusively at Target. The packaging is fantastic. NOSH
Plant-based beverage brand REBBL introduced a Smoothie Starter line. This is REBBL’s first multi-serve product. Each serving contains 20g of plant-based protein along with gut-healthy postbiotics. REBBL
Howler Head and UFC extended their global partnership. Howler Head will continue to be the Official Flavored Whiskey of UFC. PR Web

C4 Energy and Alani Nu continue to grow fast, just not as fast as they once were. Twitter