Chobani's Valuation Hits $20B, Mammoth Buys Coterie 🛒

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CPG WIRE
October 18, 2025

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

  • Bubble explores options 🧴

  • Zoe raises more than £3M 💊

  • Snif launches subbrand 🔥

  • Smucker sues Trader Joe’s 🥪

  • Pernod Ricard disappoints 🥃

Deals 💰

Mergers & Acquisitions 

  • Fast-growing skincare brand Bubble has hired Centerview Partners to explore its deal options. Founded in 2020 by Shai Eisenman, Bubble was one of the first skincare brands to focus on Gen Z and Gen Alpha. According to a report from Piper Sandler, Bubble is the #4 favorite skincare brand among teens and annual sales now top $100M. With skincare brands like Rhode, Medik8, and BYOMA all exiting within the past six months, it’s a great time for Bubble to be exploring its options. Cosmetics Business

  • Modern CPG company Mammoth Brands signed a definitive agreement to acquire Coterie, a premium player in diapers and baby wipes. Founded in 2019 by Frank Yu, Coterie is known for its high-performance products that are clean and safe for babies. The company has sold more than 700 million diapers since launching and LTM net revenue surpassed $200M, representing a year-over-year increase of nearly 60%. Coterie remains an almost entirely DTC brand, and Mammoth Brands has the playbook to turn it into an omnichannel machine. Business Wire

  • According to Axios, Estée Lauder is looking to sell color cosmetics brand Too Faced. Jerrod Blandino and Jeremy Johnson launched Too Faced in 1998 and Estee Lauder purchased it from General Atlantic in 2016 for around $1.4B. Axios

  • Affordable haircare brand Not Your Mother’s has hired Raymond James to explore a sale. The Florida-based brand sells a variety of masstige haircare products at retailers like Target and Ulta Beauty. Axios

Fundraising

  • Chobani secured $650M in equity funding and the yogurt maker’s valuation climbed to $20B. The company will use the funding to expand its manufacturing facility in Idaho and to complete construction on a 1.4-million-square-foot dairy processing facility in Rome, New York. Chobani continues to deliver impressive growth despite being two decades into its journey. The company expects sales to hit $3.8B this year — a YoY increase of 28% — up from $1.4B in 2020. Inc.

  • UK-based gut health startup Zoe has raised more than £3M on crowdfunding platform CrowdCube. Founded in 2018 and based in London, Zoe offers at-home microbiome tests in addition to personalized nutrition supplements to remedy gut issues. The Grocer

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What’s New 🤩

Apparel, Cosmetics, and Wellness

  • New York-based fragrance brand Snif is launching its first subbrand with Notewrks, a line of fragrances for men. Notewrks will launch on December 3rd with three scents. Snif was founded in 2020, recently launched at Ulta Beauty, and will do around $40M this year. WWD

  • Popular cookware brand Caraway expanded into a new category with its barware collection. The Complete Bar Set is made with clean, non-toxic materials and looks pretty sleek. LinkedIn

  • Norms, the wellness brand aiming to destigmatize the conversation around hemorrhoids, just opened a pop-up and community retail space in NYC. The pop-up will run until November 25th. PR Newswire

  • Olive & June launched a line of press-on nails for kids and tweens called Pressies. The packaging is cute and 19 different styles are available. Instagram

Food, Beverage, and Alcohol

  • J.M. Smucker is suing Trader Joe’s over its frozen PB&J line. The lawsuit claims that Trader Joe’s is trading off the fame and recognition of Uncrustables while also mimicking certain brand elements. CBS News

  • Chef and best-selling author Alison Roman is reportedly launching a pasta sauce line. It looks like the brand with launch with 3 SKUs. The rustic branding works pretty well. Twitter

  • VIVI is a longevity coffee brand that’s launching next month. The Los Angeles-based startup was founded by Stefan Hertzberg and their coffee is infused with NAD+ and collagen. VIVI

  • Dirty Gut is a newish functional chocolate brand that delivers a gut-friendly boost of probiotics and postbiotics. The company launched with one product — Premium Dark Chocolate Bites — and each bite contains one billion live cultures. The branding is excellent. Dirty Gut

  • Nektr Infusions is a new beverage brand that’s crafting THC-infused teas. The beverages are formulated with THC, CBD, adaptogens, and agave nectar. Three flavors are currently available in ten states across the U.S. Nektr Infusions

  • Momofuku Goods just refreshed its noodles packaging. The brand made three key changes: they improved the product imagery, added some playful text, and rolled out a multi-pack callout. Noodles are Momofuku’s top-selling item. NOSH

  • Fishwife unveiled its newest tinned fish product: Tuna Belly. The limited-edition product is available online and at their NYC pop-up on Orchard Street. Instagram

  • Buffy Protein is officially taking pre-orders. The company is bringing a line of chicken + cottage cheese dips to market and the branding is fantastic. Buffy

Data 🖥️

  • French spirits firm Pernod Ricard reported dejecting Q1 results. Total net sales dropped 8% compared to the same period last year. U.S. sales fell by 16% while China sales collapsed by 27%. WSJ

Distribution News 🚚