Falfurrias Raises $1.35B, Vacation Lands at Costco 📈

Author

CPG WIRE
March 27, 2025

GM and Happy Thursday, folks. Here’s what we’re covering this morning:

  • Campari sells RTD facility 🍸

  • Sunday scores $25M 🌲

  • DAISE expands into lip care 💄

  • Firehook collabs with Graza & Fly By Jing 🔥

  • Fever-Tree reports FY results 🍹

Deals 💰

Mergers & Acquisitions 

  • Campari Group divested an RTD manufacturing facility in Australia for an undisclosed sum. The buyer is Garage Beverages who will continue to produce RTD products for Campari Group. Campari sold its stake in Howler Head last week so it appears that they’re refocusing on core brands and key regions. The Spirits Business

  • Vera Bradley is selling jewelry brand Pura Vida for $1M. Vera Bradley purchased Pura Vida for $85M in 2019 so this is a considerable miss. WSJ

Fundraising

  • Falfurrias Capital Partners, a Charlotte-based middle-market private equity firm, secured $1.35B in investor commitments for Fund VI. Earlier this year, Falfurrias sold Sauer Brands to Advent International for $1.5B. Falfurrias acquired Sauer Brands — the owner of Duke’s Mayo, Mateo’s Gourmet Salsa, and Kernel Season’s — for a $300M in 2019. They’re also an investor in Snak King, one of the largest salty snack co-packers in the U.S. PR Newswire

  • Sunday, a Boulder-based purveyor of eco-friendly lawn care products, raised $25M in funding from S2G Investments. The company was founded in 2019 by brothers Coulter & Trent Lewis. Prior to launching Sunday, Coulter Lewis co-founded Quinn Snacks. S2G Investments is also an investor in Atomo Coffee, Just Ice Tea, Once Upon a Farm, and many other consumer startups. Axios

  • Lofted Spirits — a Kentucky-based contract whiskey producer and brand owner — announced a $50M financing agreement with InvestBev Credit. By leveraging aging barrel inventory as collateral, customers of Lofted Spirits will be able to free up liquidity to focus on marketing and distribution. PR Newswire

  • Matthew Moulding, the founder & CEO of THG, invested £60M of his own money into the struggling consumer goods company. THG, an operator of DTC beauty & nutrition brands, once had a market cap north of $11B but now trades below $500M. The Times

What’s New 🤩

Apparel, Cosmetics, and Wellness

  • DAISE Beauty, the fragrance and body care brand co-founded by serial entrepreneur Jaimee Lupton, launched a new line of hydrating lip balms. The packaging is unbelievably good. The new line is available exclusively at Ulta Beauty. Hypebae

  • Glossier is launching a new fragrance called You Fleur later today. The new SKU will be available on their website and via Sephora. Instagram

  • A.P.C. and ASICS collaborated on a massive 50-piece tennis collection. The collection includes on-court and off-court items. Sneaker News

  • Popular skincare brand Dieux released a limited edition eye mask called the Winged Forever Eye Mask. Instagram

Food, Beverage, and Alcohol

  • Firehook Bakery collaborated with Graza and Fly By Jing on two new flavors: Olive Oil, Lemon & Chive and Sichuan Chili Crisp. The two limited edition flavors are available exclusively at Whole Foods Market. This is a super smart way for a legacy snack maker like Firehook Bakery to connect with younger consumers. Love it. PR Newswire

  • Children’s beverage brand PLEZi partnered with NBA legend Steph Curry to launch a new hydration range. Each serving contains 120mg of sodium, 500mg of potassium, 90mg of vitamin C, and 12g of sugar. The new line is available on Amazon and at Albertsons and Walmart in California. Instagram

  • Super Coffee just released a high-protein latte line. Each bottle contains 25g of protein, 1g of sugar, and only 150 calories. Love the packaging. If you want to try their new line, use “PROTEINPLUS” on Amazon for 25% off (this is not an affiliate plug). Instagram

  • Austin-based Madhu Chocolate is shutting down after seven years in business due to skyrocketing cacao and cocoa butter prices. This is a shame — Madhu was a great brand with a lot of momentum. Sadly, Madhu likely won’t be the last craft chocolate company to shutter due to rising commodity prices. Instagram

  • YouTuber Cody Ko launched an oatmeal brand called Ko’s Oats. The flavors are novel and fun: Pancakes and Syrup, Blueberry Muffin, and Salted Chocolate Chip Cookie. Ko’s Oats

  • Non-alcoholic beverage brand Curious Elixirs launched its first beer — Curious Zero Lion’s Mane Lager. It’s difficult not to love that bottle as premiumization becomes a key trend in the non-alc beer category. Curious Elixirs

  • Rice Krispies Treats (owned by Kellanova/Mars) launched a new product line called Bliss. They’re basically Rice Krispies Treats with toppings and sweet-and-salty flavors. PR Newswire

  • Scandinavian non-alc wine brand Oddbird released a sparkling orange wine. The limited edition bottle is available in the US, EU, UK, and Canada. Instagram

  • Foley Family Wines & Spirits launched a cold brew coffee liqueur brand called Evil Bean. PR Newswire

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Data 🖥️

  • Fever-Tree reported solid FY results with revenue increasing 4% on a constant currency basis to £364M. Sales in the UK dipped 3% but U.S. sales shot up 9% year-over-year. Fever-Tree also reported a gross margin of 37.5%, a considerable improvement over the 32.1% gross margin it posted in 2023. The company is poised for continued growth in the U.S. as they announced a distribution partnership with Molson Coors in late January. Fever-Tree

  • Foot traffic at Target fell yet again due to a boycott over its DEI policies. Brands are beginning to feel the pain now too according to a few operator friends. Retail Brew

Distribution News 🚚