David Raises $10M, Beyonce Launches Whisky with LVMH 🥃

GM and Happy Thursday, folks. It’s been a crazy few days in CPG Land so we have a ton of fun stuff to cover. Let’s get into it:

• Topspin bets on Carpe 💧

• Great Many raises $3.6M 💉

• Sara Blakely launches Sneex 👠

• GHOST Hydration x Sour Strips 👻

• DIBS Beauty heads to Ulta 💄

There will be no newsletter on Saturday, August 24th but we’ll be back in your inbox on Tuesday! Have a great weekend.

David Raises $10M 🍫

David, a pre-launch purveyor of high-protein, low-calorie foods, closed a $10M seed funding round. The round was led by Peter Rahal, the co-founder and CEO of David, and included participation from Valor Siren Ventures, Peter Attia, and Andrew Huberman.

We first heard about David in March when Peter Rahal, who previously sold RXBAR to Kellogg for $600M, mentioned on Twitter that he was launching another protein bar brand toward the end of the year.

At the time, we didn’t know a whole lot about David besides the following: 

• Their macros — 28g of protein, 150 calories, and 0 sugar — were super impressive. 

• Their packaging, which was designed by the talented folks at Day Job, defied convention and looked unlike anything else in the category. 

We now know that David plans to be more than just another protein bar brand and will instead be a Protein Platform. In addition to the aforementioned bar which has more protein per calorie than any other bar on the market, they also plan on launching a variety of other products that help consumers increase muscle and decrease fat. 

We don’t know where exactly David goes after protein bars, but high-protein baked goods, snacks, or RTD shakes are all conceivable options. Given that consumers are now flocking to the beverage set to get their protein fix, and that analysts expect the RTD protein shake market to nearly double by 2030, I’d put my money on David launching shakes.

The closest analog for David is likely Quest Nutrition, the nutrition brand that Simply Good Foods acquired for a clean $1B in 2019. The first Quest Bar debuted in 2010, then they added chips and protein powders in 2014, and by 2019 they offered protein cookies, thin crust pizzas, iced coffees, etc. 

I don’t expect David to go quite as wide as Quest Nutrition — many of Quest’s tertiary product lines seemed like desperate attempts at chasing organic growth prior to their acquisition — but I could see David going very deep on bars, RTD shakes, and perhaps a third category.

More on the fundraise here.

Take Your Brand To The Next Level 🔥

BexBrands is a design studio that specializes in brand positioning, brand identity, and packaging design for iconic consumer brands.

Since being founded in 2010, Bex has worked with brands like Barnana, Kopari, Lily’s Sweets, Suja Juice, Once Upon a Farm, and many others.

Some of Bex’s recent success stories include: 

• Brand refresh for Sipwell Wine Co.

• Brand refresh for Richard’s Rainwater

• Brand identity and packaging design for Juni Sparkling Tea

Interested in taking your brand to the next level? Get in touch with BexBrands.

Deals 💰

Mergers & Acquisitions 

• Topspin Consumer Partners, a consumer-focused private equity firm, acquired an undisclosed stake in Carpe, a digitally-native purveyor of personal care products that combat sweat. David Spratte and Kasper Kubica launched Carpe in 2015 and will continue to lead the business. This once niche category is getting busier with brands like Duradry and SweatBlock now competing against Carpe. Business Wire

• Saco Foods, a portfolio company of Fengate Private Equity, acquired Quinoa Corporation which owns two brands: Ancient Harvest and Pamela’s. The seller is Encore Consumer Capital and terms of the deal were not disclosed. PR Newswire

• Foley Family Wines acquired five brands from Vintage Wine Estates which filed for bankruptcy protection last month. Foley Family Wines is owned by billionaire Bill Foley and owns more than 25 wineries and distilleries. Just Drinks

Fundraising

• Great Many, a New York-based operator of hair growth clinics, raised $3.6M in pre-seed funding. The round was led by Brand Project with additional funding from Midnight Venture Partners and Tonic Ventures. In addition to their retail clinic, Great Many also offers telehealth services and a line of products for retail. WWD

• Spotless Materials, a Y Combinator alum and a producer of PFAS-free surface coatings, raised $1.6M in venture funding from Ben Franklin Technology Partners and Penn State’s The Garber Fund. Spotless uses a silicone-based solution to combat bacteria build-up in toilets, mirrors, sinks, etc. Axios

What’s New 🤩

Apparel, Cosmetics, and Wellness

• SPANX founder Sara Blakely launched a luxury footwear brand called Sneex which combines the style of a traditional high heel with the performance and comfort of a sneaker. The products are handmade in Spain with prices ranging from $395 to $595. Curious what y’all think. IMO they’re mortifying but I’m obviously not the target demo. PR Newswire

• Clean personal care brand Curie launched a sleek range of body wash bars. The new products are available exclusively at Walmart. Twitter

• Therabody, a leader in beauty & wellness tech, unveiled their newest device — the TheraFace Depuffing Wand. The new skincare device offers hot and cold treatments which are clinically proven to improve firmness and elasticity and enhance radiance. PR Newswire

• Tennis player Sloane Stephens launched a clean body care brand called Doc & Glo. The brand debuted with two products: a deodorant and a deodorizing body mist. Essence

Food, Beverage, and Alcohol

• Beyoncé has partnered with LVMH to launch SirDavis, a new luxury whisky brand. The brand is named after Davis Hogue, Beyoncé’s paternal great-grandfather, who was a farmer and a moonshiner during Prohibition. Their debut product retails for $89 and will begin hitting shelves in September. PR Newswire

• GHOST Hydration collaborated with Sour Strips on a new flavor — Rainbow. The two brands previously collaborated on an energy drink but this is their first foray into hydration. Instagram

• Premium nut butters brand Fix & Fogg released two on-the-go squeeze pack SKUs. Their packaging is always pretty great. Instagram

• Swedish plant-based protein bar brand RE:DO officially launched in the U.S. I dig the packaging. SFWB

• Bachan’s launched a great-looking range of Japanese Dipping Sauces. They just don’t miss. Bachan’s

• Single estate tequila brand Humano officially made its debut. The ceramic bottle is a novel touch but the logo and typography all seem rushed. PR Web

• Fishers Island Lemonade worked with Tavern to refresh their brand world and visual identity. Need that long sleeve shirt ASAP 👇 Transform Magazine

Data 🖥️

• Coty’s FY24 net revenue increased 10% year-over-year to $6.1B. Their Consumer Beauty division grew 6% YoY while Prestige Beauty revenue jumped 13%. Gucci’s Flora Orchid is also the #1 female fragrance at Sephora Worldwide. Kylie Jenner’s new fragrance, Cosmic, was also a huge seller. Happi

Distribution News 🚚

• DIBS Beauty is launching at over 590 Ulta Beauty stores.

• Ketone energy drink brand KEY is now available at Erewhon.

• Egglife Foods is now available throughout Canada.

• Canopy, a purveyor of diffusers & humidifiers, launched at Sephora.

• Elavi launched their protein brownies at Lifetime Fitness.

• Sipwell Wine Co. launched at over 200 Safeway stores in Northern CA.

• Dessert brand BARIS launched at Plum Market.