Ferrero Buys BOLD Snacks, Little Spoon Expands Offering 🍼

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

• General Mills exits Brazil 🥣 

• L Catterton wants $4B for Thorne 💊

• Founders Row backs Yough! 🍕

• Freaks of Nature bets on hydration 💧

• Coaqua launches at H-E-B 🥥

Deals 💰

Mergers & Acquisitions 

• Ferrero Group is doubling down on protein by acquiring BOLD Snacks, a Brazilian purveyor of protein bars and powders. Founded in 2018 and based in Minas Gerais, BOLD quickly gained traction with its novel protein bars and eye-catching packaging. Ferrero is best known for its iconic candy portfolio but lately the company has been acquiring functional snack brands like Power Crunch, FULFIL Nurition, and Eat Natural. Brazil is clearly a strategic priority for Ferrero Group. In 2023, the company acquired Dori Alimentos, a leading candy manufacturer with 5 facilities across the country. PR Newswire

• General Mills is selling its Brazil division to 3corações for an undisclosed sum. The division contributed $350M to General Mills’ 2025 net sales and is home to leading local brands like Yoki and Kitano. The transaction is expected to close by end of year. General Mills has been gobbling up pet care assets while divesting assets like its North American yogurt biz for $2.1B. Business Wire

• Dutch spirits firm De Kuyper Royal Distillers is selling legacy liqueur brand Mandarine Napoléon for an undisclosed sum. The buyer is a subsidiary of Iconic Nectars. Global Drinks Intel

• According to a report from Axios, L Catterton is exploring a sale of vertically integrated VMS brand Thorne for up to $4B. L Catterton acquired Thorne in 2023 for $680M when the company was doing around $300M in annual revenue. Axios

Fundraising

• Founders Row made a strategic investment in Yough!, a startup reimagining frozen pizza with a protein-rich crust made from Greek yogurt. Their pizzas are made with simple ingredients and each pie contains 40 to 50g of protein. The investment coincides with Yough's nationwide debut in nearly 2,000 Target stores. Yough was co-founded by Mike Rolland & Jason Miller in 2022. PR Newswire

• Korean skincare brand JiYu secured $6.5M in growth funding from private investors and strategic industry partners. The three-year-old company will use the capital to scale in North America as it forecasts $70M in revenue in 2026. Amazon and TikTok Shop will be key priorities for JiYu moving forward. PR Newswire

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What’s New 🤩

Apparel, Cosmetics, and Wellness

• Freaks of Nature, the performance skincare brand co-founded by Kelly Slater and Squared Circles, just released a hydration drink mix called Skin Support Electrolyte. The product delivers an advanced mineral blend to support hydration along with hyaluronic acid and vitamin C which provide skincare benefits. A 30-pack retails for $55 on their site. Fitt Insider

• Rayro is a new children’s wellness brand from the UK launching later today. The company, co-founded by Dominika Minarovic and Elsie Rutterford, offers refillable balm sticks that solve common problems for kids. Rayro is launching with three products: Koala Sleep Stick, Panda Skin Stick, and Pig Sniffle Stick. The packaging is pretty cute. LinkedIn

• Jose Manuel Albesa has succeeded Marc Puig as the CEO of Puig, the Spanish beauty firm that’s currently worth around €9B. Albesa has been with the company since 1998 and has worked closely with the outgoing CEO for the past 22 years. Marc Puig will retain the Executive Chairman title and collaborate closely on M&A strategy. Cosmetics Business

• London-based haircare brand Fable & Mane tapped its inner Sol de Janeiro and created a hair and body mist line. Three scents will launch on March 24th at Sephora: Kerala Coconut, Madurai Jasmine, and Jaipur Rose. Instagram

Food, Beverage, and Alcohol

• Little Sesame enlisted Yellowbird to launch an exciting new product — Habanero Hummus. The co-branded label looks great and the product will roll out at Sprouts in the near future. Instagram

• Little Spoon just expanded into the newborn nutrition category with its Organic Grass-Fed Whole Milk Infant Formula. With the launch of infant formula, Little Spoon is now an end-to-end nutrition platform for babies, toddlers, and children up to age 6. Their American-made formula is USDA Organic, EU Organic, and Clean Label Project Certified. PR Newswire

• Nguyen Coffee Supply released a great-looking Ground Espresso SKU. The new product is available exclusively on their website. Whenever it launches in retail, Nguyen’s Ground Espresso will stand out in an otherwise stuffy category. Instagram

• PRODA is a new protein soda from actor Matthew Postlethwaite and former Suja Juice CEO Jeff Church. The company is launching on March 31st with a soda that contains 10g of protein and zero sugar. PRODA will debut at Sprouts Farmers Market in early April. PRODA

• TofuGo is a new tofu-based savory snack brand founded by Caroline Dai. Much like a protein bar, TofuGo is shelf-stable, compact, and ideal for on-the-go consumers. Two flavors are currently available and each bar contains 12g of protein and 0 sugar. TofuGo

• GHOST Energy is teaming up with 7UP on a limited-edition Lemon Lime flavor. Fans will be able to secure a can via the GHOST App on April 1st. The collab will then hit retail shelves beginning on April 13th. Stack3d

• IQBAR unveiled its latest innovation: PB&J Protein Bites. Each bite contains a solid 5g of protein and 5g of fiber. A variety pack with two flavors is now available nationwide at Sam’s Club. PR Newswire

Data 🖥️

• Mission Craft Cocktails is on a roll. The mission-driven RTD cocktail brand went from selling around 2,000 cases in 2024 to over 80,000 cases in 2025. BevNET

• Lifeway Foods delivered pretty strong results in Q4. Net sales rose 18% to $55.4M while net income came in at $2.5M (compared to a net loss of $0.2M in Q4 2024). PR Newswire

Distribution News 🚚

• Coaqua launched 5 SKUs at H-E-B.

• Cactus Crunch launched at 300+ Kroger doors.

• Legendairy Milk rolled out nationwide at Sprouts Farmers Market.

• Seek is now available on Amazon.

• Pasta Sisters launched at Gelson’s.