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  • Diageo Bets on Tequila (Again), Elo Health Grabs $3.5M 🧪

Diageo Bets on Tequila (Again), Elo Health Grabs $3.5M 🧪

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CPG WIRE
April 08, 2025

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

  • Two Chicks gets acquired 🐔

  • DedCool secures funding 👀

  • Aubrey Marcus returns 💊

  • Slate launches Ultra Protein 🥛

  • Feastables heads to France 🍫

Deals 💰

Mergers & Acquisitions 

  • Two Chicks, a UK-based purveyor of liquid egg white products, sold a majority stake to Eurovo Group, an Italian company and one of the largest egg producers in Europe. Two Chicks was founded in 2007 by Anna Richey and Alla Ouvarova. In addition to its distribution in the UK market, Two Chicks is also available in France, Luxembourg, and The Netherlands. FoodBev

  • French spirits firm Pernod Ricard acquired the remainder of St. Petroni, a Spanish craft vermouth brand. St. Petroni launched in Galicia in 2014 and Pernod acquired its initial majority stake in 2020. Just Drinks

  • Diageo just announced a joint venture with Main Street Advisors, an investment and advisory firm that’s focused on music, media, entertainment, and sports. In short, Diageo is exchanging the North American brand rights to Ciroc for the worldwide brand rights to Lobos 1707, a fast-growing agave spirits brand. Diageo already has an impressive tequila portfolio — Casamigos, Don Julio, and Astral to name a few — and they just added another ultra-premium option. VinePair

Fundraising

  • Rock Face, one of the fastest-growing men’s care brands in the UK, raised £2.5M in fresh funding from undisclosed investors. The company also unveiled a vastly improved brand identity last week. Rock Face is available on Amazon and at retailers like ASDA, Boots, Tesco, Sainsbury’s, and Waitrose. The Industry

  • Elo Health, a San Francisco-based personalized nutrition company, secured nearly $3.5M in equity funding from undisclosed investors. The company was founded in 2021 and relies on at-home testing, in-depth analysis, and personalized supplements to meet its customers’ health goals. SEC

  • According to an SEC filing, LA-based fragrance brand DedCool raised nearly $7.5M in equity funding. Ken Suslow is listed on the Form D so we can assume that Sandbridge Capital led the round. In 2023, Sandbridge led a Series A investment in Henry Rose, the fragrance brand that Michelle Pfeiffer launched in 2019. SEC

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What’s New 🤩

Apparel, Cosmetics, and Wellness

  • Aubrey Marcus, the founder of Onnit, is back in the supplements space with a new brand called Korrect. Korrect is an energy supplement that utilizes paraxanthine, an increasingly popular caffeine metabolite, and two botanical extracts: Zynamite and enXtra. Aubrey Marcus founded Onnit in 2010 and sold it to Unilever in 2021. Korrect

  • Maesa, a leading beauty & wellness brand incubator, launched an intimate care brand called Niches & Nooks. The brand was designed to refresh, cleanse, and care for your most overlooked nooks. It’s available in-store and online at Target. PR Newswire

  • Birkenstock opened its second store in Paris. The footwear company opened its first Paris store in the Marais district last year, and their newest store is located in Saint-Germain-des-Prés. PR Newswire

Food, Beverage, and Alcohol

  • Four Sixes Ranch, the historic Texas ranch that Taylor Sheridan purchased in 2022, has partnered with Sazerac to launch a line of spirits. The two organizations launched a vodka and a whiskey. Both are available in Texas, Oklahoma, and Nevada. Instagram

  • Functional beverage brand Slate launched a new Ultra Protein Shake line that features 42g of protein. Two flavors are available: Chocolate and Vanilla. Slate is quietly becoming a major player in the RTD protein shake category. Instagram

  • BOLD Bar is a new honey-sweetened, caffeinated protein bar brand. Each bar contains 20g of protein and 100mg of caffeine. I pre-ordered some and they’re very good. The company was founded by Sean Jagermann, an analyst at Triptyq Capital. BOLD Bar

  • RoseBud Ice Cream is launching a pouched soft serve ice cream line with four flavors: Original Vanilla, Classic Chocolate, Blue Moon, and Cookies n Cream. The packaging looks pretty sleek IMO 👇 LinkedIn

  • Scottish craft brewer BrewDog is expanding into food with a new line of condiments, sauces, seasonings, and rubs. I have to say…the new range looks really good. Just Food

  • Magic Spoon expanded its Protein Treats range with two new flavors: Salted Caramel and S’mores. Stack3d

  • BFY soda brand Poppi unveiled their latest flavor, Alpine Blast. Instagram

  • Maison Perrier (owned by Nestle) launched a new line of mocktail-inspired sparkling waters. Four flavors are available: Daiqui’red, Piña Fizz, Peach Spritzer and Citrus Fizz. Food Dive

  • Geez Louise, a Canadian purveyor of prebiotic sparkling waters, introduced a Lemon Lavender flavor. Great-looking can. BevNET

Data 🖥️

  • Conagra Brands reported mixed results in Q3 due to snackers switching to private label brands and supply chain disruptions impacting its ability to meet demand for frozen meals. Q3 net sales dipped over 6% to $2.84B while overall volumes declined 3.1%. Reuters

Distribution News 🚚

  • Supplement brand Proper launched at Target.

  • Feastables launched at Carrefour in France.

  • POP Jones launched at Albertsons and Market Basket.

  • Adaptogenic gummies brand Fungies launched at Target.

  • Grass-fed beef brand Pre launched at BJ’s Wholesale Club.