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  • Elliott Unveils $4B PepsiCo Stake, Magic Mind Raises 🧠

Elliott Unveils $4B PepsiCo Stake, Magic Mind Raises 🧠

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CPG WIRE
September 04, 2025

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

  • Kraft Heinz readies split đź’”

  • Facile closes round đź’°

  • Travis Kelce backs hydration brand đź’§

  • LORE officially launches đź‘€

  • Cotto prepares to launch đź’Ş

Heads up: some of the PR Newswire links are acting a little wonky this morning.

Deals đź’°

Mergers & Acquisitions 

  • Prolific activist investor Elliott Investment Managment has revealed a $4B stake in PepsiCo and seeks to collaborate with management on a turnaround plan. Elliot’s chief complaint is that PepsiCo’s share price has underperformed and the company is deeply undervalued. Their plan is fairly straightforward at least on paper: refranchise its bottling division like Coca-Cola did, dump underperforming food and beverage brands, and dial up M&A. You can review Elliott’s 75-page PepsiCo deck here. WSJ

  • Kraft Heinz is well on its way to splitting up into two companies. One company, dubbed Global Taste Elevation Co., will include iconic brands like Heinz, Philadelphia, and Kraft Mac & Cheese. The other company, dubbed North American Grocery Co., will be home to brands like Oscar Mayer, Kraft Singles, and Lunchables. In 2024, Global Taste Elevation Co. generated net sales of $15.4B and adjusted EBITDA of $4B, while North American Grocery Co. posted net sales of $10.4B and adjusted EBITDA of $2.3B. Business Wire

  • Temple Lifestyle Brands, a functional beverage platform from Canada, just acquired Rise Kombucha, Canada’s leading kombucha brand. Rise Kombucha was founded in Montreal in 2008 and is available at various nationwide retailers across the country. PR Newswire Canada

Fundraising

  • Magic Mind, a Los Angeles-based purveyor of mental performance shots, raised $12.4M in fresh equity funding. Dayton Miller of BFG Partners is listed on the Form D, so presumably they led the round. William Hicks and James Beshara co-founded Magic Mind in 2020. Their retail partners include Erewhon, H-E-B, Sprouts, and select Albertsons banners. SEC

  • Modern skincare brand Facile secured just under $3M in equity funding. Sandbridge Capital likely led the round given that Ken Suslow is listed on the Form D. Facile was co-founded by Dr. Nancy Samolitis, a board-certified dermatologist, and Danielle Nadick Levy, a beauty industry veteran. The brand retails exclusively at Sephora. SEC

  • Travis Kelce invested in RECOVER 180, the latest beverage brand from serial entrepreneurs Lance Collins and Mike Meldman. Prior to launching RECOVER 180, Meldman co-founded Casamigos Tequila while Collins co-founded BodyArmor and Core Hydration. Twitter

What’s New 🤩

Apparel, Cosmetics, and Wellness

  • LORE, the new fragrance brand from serial beauty entrepreneurs Melanie Bender and Mazdack Rassi, officially launched on September 2nd. The brand will debut at select Sephora stores on September 15th. In terms of packaging, the hand-blown glass vessels and stainless steel caps are really nice touches. LORE

  • Adaptogenic gummies brand SuperMush released a novel new product: Creatine + Cordyceps Gummies. The product contains 3.71g of Creapure and 250mg of Cordyceps per serving. Instagram

  • D.S. & Durga, the fragrance brand that Manzanita Capital acquired last year, launched a new scent called Cognac Reign. The accompanying campaign is pretty fun. Instagram

  • Popular skincare brand Bubble launched an acne cleanser called All Clear. The product is formulated with 2% salicylic acid and retails for $17. Bubble

  • Prince Sports and Siegelman Stable released a pretty killer capsule collection. Instagram 

  • GrĂĽns released its second limited-edition flavor with GrĂĽnny Smith Apple Gummies. Instagram

  • Fast-growing personal care brand Salt & Stone launched a line of body creams with three scents: Saffron & Cedar, Bergamot & Hinoki, and Santal & Vetiver. Instagram

Food, Beverage, and Alcohol

  • Fast-growing condiments brand Bachan’s unveiled a slightly modified new look. They elevated the logo, colorized their octopus mascot, and made it a little easier to differentiate between flavors. The changes are modest but will be impactful on shelf. PR Newswire

  • Cotto is a new purveyor of cottage cheese-based dips. The New York-based brand’s products are high in protein, made with clean ingredients, and launching soon. Cotto

  • NHL veteran Tyson Barrie launched a premium light lager brand called Chilly Ones. Chilly Ones launched with two products: a 3% ABV lager and a non-alcoholic lager. Trend Hunter

  • Oregon-based tea brand Yogi just launched a line of organic herbal tea concentrates. Two options are available at launch: Organic Elderberry Lemon Balm and Organic Hibiscus Ginger. The new line is available nationwide at Target. PR Newswire

  • Fix & Fogg unveiled their newest nut butter product: Sweet & Smooth Pistachio Spread. Great-looking label. Instagram

  • Caffeinated nutrition bar brand Verb launched a hydration drink mix line with two flavors: Lavender Lemonade and Berry Breeze. The branding is pretty compelling. Instagram

  • Sour Patch Kids, the iconic candy brand owned by Mondelez, must be feeling the heat from Sour Strips because they just launched five sour strip SKUs. PR Newswire

  • Non-alcoholic beverage brand Proxies launched a very sleek canned cider. Instagram

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They’ve worked with brands like Momofuku, Obvi, Kinobody by Greg O’ Gallagher, Ice Shaker by NFL Star Chris Gronkowski, and more to set-up and scale TikTok Shop to over $15 million in sales last Q4.

For a limited time, they’re offering a free 30-minute consultation/audit for brands doing at least $1 million/year in sales. Claim your spot here.

Data 🖥️

  • According to a report from CNBC, Ithaca Hummus expects to generate $50M in revenue this year. Instagram

  • Protein snack maker Legendary Foods is about to hit 100,000 doors and $180M in revenue. Prior to founding Legendary Foods, Ron Penna co-founded and sold Quest Nutrition for $1B. Twitter

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