Coca-Cola Reportedly Pursues Poppi 🫧

Author

CPG WIRE
February 15, 2024

GM and Happy Thursday, folks. Here’s what we’re getting into today:

  • Brita buys LARQ đź’¦

  • Pipcorn scores $3M 🍿

  • LeBron reveals CPG brand 🧴

  • Joyride pivots (again) 🍭

  • Something new from Goodles 🧀

Just a heads up: there will be no newsletter on Saturday. We’ll be back in your inbox on Tuesday morning, though. If you miss us, you’ll be able to find us on Instagram. Hope y’all have a great weekend.

Deals đź’°

Mergers & Acquisitions 

  • Per Bloomberg, Coca-Cola is pursuing Poppi, the better-for-you soda brand that we wrote about in Tuesday’s newsletter. The CEO of Poppi, Chris Hall, quickly denied the story, but what else was he supposed to do? In the end, I reckon Keurig Dr Pepper wins the Poppi sweepstakes and here’s why. Bloomberg

  • Brita, the well-known German manufacturer of water filters, has acquired smart water bottle brand LARQ. LARQ launched in 2017 and produces water bottles that use UV light to reduce bacteria. TechCrunch

  • Connecticut-based beverage firm CoreBev Group has acquired Continuum Distilling, an eco-friendly spirits producer. Terms of the agreement were not disclosed. PR Newswire

  • Union Capital Associates is looking to sell Pervine Foods, the parent company of chef Robert Irvine’s FITCRUNCH brand, which did $50M of **EBITDA** last year. FITCRUNCH sells a variety of protein bars and powders. PE Hub

Fundraising

  • Better-for-you snack brand Pipcorn raised $3M in a mix of debt and equity funding from undisclosed investors. Pipcorn is best known for their popcorn but they also sell a variety of extruded snacks. Their retail partners include Kroger, Target, Whole Foods Market, and many others. SEC 

What’s New 🤩

Apparel, Cosmetics, and Wellness

  • LeBron James is launching a new men’s grooming brand, The Shop, later this year. The seven-product collection was developed with Parlux, a New York-based manufacturer of fragrances and other beauty products. The Shop will debut at Walmart in the spring. WWD

  • Fashion label Donna Karan New York has released its first-ever fragrance line. The new line, dubbed The Cashmere Collection, includes four different fragrances that were developed with Inter Parfums. PR Newswire

Food, Beverage, and Alcohol

  • Joyride, the low-sugar candy brand that was formerly known as Project 7, is apparently now an influencer-led brand. The company, which completely wiped its Instagram, is now positioning itself as a better-for-you candy brand founded by popular YouTuber Ryan Trahan. Since launching as Project 7 in 2008, this is the candy brand’s third iteration. Tubefilter

  • Better-for-you mac & cheese brand Goodles is launching a new line of gluten-free products next week. Two flavors will be available: Cheddy Mac and Vegan Be Heroes. Twitter

  • Base Culture, the #1 frozen bread brand in the natural channel, launched a new line of shelf-stable breads called Simply Bread. The new line is free of artificial ingredients, preservatives, refined sugar, and seed oils. The packaging is terrific 👇 PR Newswire

  • Zesty Z, the Mediterranean-inspired popcorn and seasonings brand, has repositioned itself as a low-carb, high protein pita chip brand. The packaging looks pretty good. NOSH

  • Plant-based milk brand Ripple unveiled a new line of on-the-go products that are shelf-stable. A smart extension from Ripple who raised $49M last year. Instagram

  • Once Upon a Farm, the childhood nutrition brand that recently eclipsed $100M in annual sales, is launching a new line of organic snacks for babies and toddlers. Love the packaging. PR Newswire

Data 🖥️

  • Brooks Running posted record results in 2023. Revenue hit $1.2B which was a year-over-year increase of 5%. Some other highlights: 20 million pairs sold in 2023, 500K total loyalty members (up 85% YoY), DTC sales increased 24%, and 14% CAGR since 2018. Impressive. Twitter

  • CELSIUS and C4 Energy are still growing fast. For the four weeks ending on January 27th, CELSIUS volume increased 77% while C4 volume jumped 47.5%. Twitter

Distribution News đźšš

  • Popular skincare brand Dieux is launching at Sephora.

  • Ready-to-eat oats brand brekki launched at select Whole Foods Market stores.

  • Served, the RTD cocktail brand founded by singer Ellie Goulding, launched at Tesco.

  • The Real Cereal Company is now available at The Fresh Market.

  • Plant-based milk brand MALK launched at Albertsons.