Djokovic Joins Cob, Caulipower Gets Acquired 🍕

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

• Kimberly-Clark buys Kenvue 💊

• James Cadbury sells Love Cocoa 🍫

• SKIMS makes key beauty hire 💄

• Little Sesame drops a truffle hummus 🔥

• Benny goes storewide at Target 🎯

Deals 💰

Mergers & Acquisitions 

• Kimberly-Clark is acquiring consumer healthcare giant Kenvue for over $48B in cash and stock. Kenvue was spun out of Johnson & Johnson in 2023 and owns brands like Tylenol, Listerine, Neutrogena, Band-Aid, and Neosporin. The combined company is expected to generate annual net revenue of $32B and adjusted EBITDA of $7B. Kimberly-Clark currently has a market cap of roughly $34B and owns brands like Huggies, Kleenex, and Cottonelle. CNBC

• Urban Farmer, a portfolio company of Paine Schwartz and a leading manufacturer of specialty dough products, has acquired Caulipower for an undisclosed sum. The transaction unites Urban Farmer’s manufacturing abilities with Caulipower’s brand equity and retail reach (25,000+ stores across the country). Gail Becker founded Caulipower in 2016 and Urban Farmer has been producing its cauliflower pizza crust from the get-go. GlobeNewswire

• Bridget Firtle, the founder of Owney’s Rum, has bought the craft rum brand back from Proximo Spirits (a subsidiary of tequila giant Becle). Firtle launched the Brooklyn-based rum brand in 2012 and sold it to Proximo Spirits in 2017. She’s also the creator of Rockaway Soda. Just Drinks

• Dr. Vranjes Firenze, a luxury fragrance brand that L’Occitane Group acquired in early 2024, is acquiring a majority stake in Integra Fragrances, an Italian fragrance specialist. The company was founded in 2006 and specializes in ambient fragrance diffusion for large spaces like hotels, corporate environments, and retail spaces. WWD

• Love Cocoa, a luxury chocolate brand founded just over 10 years ago by Cadbury scion James Cadbury, has been acquired by Scotland’s Made Uncommon. Made Uncommon owns a variety of chocolate brands including Otherly, UP-UP, Seed & Bean, and Coco Chocolatier. James Cadbury plans on stepping back from the business to focus on his family. LinkedIn

Fundraising

• Novak Djokovic led a $5M seed investment in Cob and is joining the better-for-you snack brand as co-founder. Other participants in the round include Bullish, Blanck Capital, Daxos, Furthermore, Venrex, and a handful of strategic angel investors. Cob was co-founded by Jessica Davidoff, a serial entrepreneur and Princeton alum. Cob makes popcorn out of sorghum which is an ancient grain that’s more nutritious and sustainable than corn. The branding looks great, too. Food & Wine

What’s New 🤩

Apparel, Cosmetics, and Wellness

• Dr. Karan Rajan, a UK-based medical doctor and content creator with more than 11 million followers across social media, just launched a fiber supplement brand called LOAM. LOAM aims to bridge the fiber gap by using a 6-in-1 prebiotic formula that delivers 10g of fiber per serving. The packaging is strong and the product is free from artificial flavors, sweeteners, fillers, and preservatives. 👇 LOAM

• SKIMS just appointed Ami Colé founder Diarrha N'Diaye as Executive Vice President of Beauty & Fragrance. N'Diaye shut down Ami Colé earlier this year due to economic headwinds and skyrocketing costs. The entrepreneur will help develop a range of makeup, hair, and fragrance products for SKIMS. Business of Fashion

• Better Blends relaunched with a major branding upgrade. The company offers plant-based protein powders that are reinforced with prebiotic fiber. The new look is a massive upgrade. Better Blends

• Creator-led beauty brand REFY is celebrating its fifth anniversary by launching in the Middle East. REFY is available now via Sephora’s website and will hit shelves across the Gulf in December. WWD 

• Old Navy is expanding into beauty with a line of lotions, body washes, and mists. The company will also stock brands like Patchology, Mixik, and Skin Gym at its retail stores. Instagram

Food, Beverage, and Alcohol

• Little Sesame partnered with Urbani Truffles to launch a limited-edition Black Truffle Hummus. The new flavor is available exclusively online while supplies last. Little Sesame has done some really fun seasonal collabs with Fly By Jing, Vista Hermosa, and now Urbani. Instagram

• Napa-based Ardor Energy released a sparkling energy drink line that’s made with organic fruit juice. Each can features 100mg of caffeine, 200mg of L-Theanine, and only 50 calories. Todd Berardi launched Ardor Energy in 2021 after selling Hiball Energy to Anheuser-Busch in 2017. The branding is bolder and an improvement over their original sparkling water line. BevNET

• Oishii teamed up with chef Yuu Shimano on a luxury jam collection. Two flavors are available: Strawberry Yuzu Preserves and Daifuku-Inspired Strawberry Spread. Shimano is best known for creating Michelin-starred restaurant YUU which combines Japanese and French cuisine. PR Newswire

• Mid-Day Squares will leverage a mix of debt and cash flow to triple its manufacturing capacity by 2027. The chocolate maker expects sales to hit $45M CAD for the fiscal year ending May 2026. The company is also launching its first non-chocolate product in January which will be a nostalgic, better-for-you treat. LinkedIn

• Botanical non-alc spirits brand The Pathfinder teamed up with PNW coffee roaster Caffe Vita on a canned espresso tonic. The Pathfinder has been on a roll lately. Instagram

• Graza is gearing up to launch a very limited-edition wine with Oregon-based producer Limited Addition. It looks like the Pinot Meunier will be available for purchase later today. Graza

Data 🖥️

• Australia’s Better Beer is thriving despite the myriad challenges facing the craft beer industry. Since launching in 2021, Better Beer has sold 100 million cans. The company also generated more than $95M in retail sales over the past year. Business News Australia

• Spanish beauty firm Puig delivered solid results in Q3 with revenues rising 6.1% to €1.3B. All of Puig’s divisions — Fragrance, Fashion, Makeup, and Skincare — experienced growth ranging from 2.8% to 18.8%. Vogue Business

• According to IWSR, RTDs will command 9% of the total beverage alcohol sector in the U.S. by 2029. The Spirits Business

Distribution News 🚚

• Magic Mind launched at 220+ Target stores.

• K-Beauty brand Dr. Althea launched at Ulta Beauty.

• Sourmilk is now available at Happier Grocery.

• Benny is now available storewide at Target.

• Spicekick launched at 60+ Meijer stores.