Frozen One Raises $2M, Amy's Kitchen Nears $1B 📈

Author

CPG WIRE
April 23, 2026

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

  • Laird acquires Terrasoul Superfoods 🥗

  • Westman Atelier grabs $15M 💄

  • Burt’s Bees x Grillo’s collab 🍯

  • Jeni’s appoints new CEO 🍦

  • Just Ice Tea heads to Publix 🛒

Deals 💰

Mergers & Acquisitions 

  • Laird Superfood is acquiring Terrasoul Superfoods for $48M in cash along with an additional earnout of $5M. The transaction was financed by a $60M convertible equity investment from Nexus Capital. Terrasoul is a vertically integrated purveyor of superfood products, including nuts, seeds, dried fruits, powders, baking ingredients, and functional drink mixes. Nexus will now own more than 71% of Laird Superfood. Business Wire

Fundraising

  • Frozen One, an Austin-based protein ice cream brand, closed a $2M seed round led by Supernatural Ventures and The Angel Group. Founded last year by Alan Chen and Conner Mennig, Frozen One will be in 2,300 doors by May, including nationwide at Target. Their other retail partners include Wegmans, Central Market, Bristol Farms, and several other regional chains. Instagram

  • Wavers, a fast-growing snack brand co-founded by creator David Dobrik, secured a strategic investment from Capital Q Ventures. Wavers retails at Albertsons, BevMo, and Five Below in the U.S. and recently launched in Australia and the UAE. LinkedIn

  • Taste Tomorrow Ventures, the venture arm of L.A. Libations, announced an investment in protein beverage brand Lumen. Lumen’s protein lemonade line delivers 16g of protein and 4-5g of sugar. The company also offers functional wellness shots for gut health, immunity support, etc. LinkedIn

  • Westman Atelier secured $15M from existing backers Prelude Growth Partners and Imaginary Ventures. Celebrity makeup artist Gucci Westman co-founded the luxury makeup brand alongside her husband, David Neville, who previously co-founded Rag & Bone. Westman Atelier was reportedly approaching $100M in annual sales in 2023. Beauty Independent

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What’s New 🤩

Apparel, Cosmetics, and Wellness

  • Burt’s Bees and Grillo’s Pickles are releasing a limited-edition lip balm on Friday. The Fresh Cucumber Dill Lip Balm will be available exclusively at Walmart while supplies last. WWD

  • KÖPPEN Oral Health unveiled a luxurious new look. KÖPPEN is positioning itself as the Aesop of oral care and offers a variety of products, including toothpaste, mouthwash, floss, lip balm, and several others. The branding and packaging are both terrific. Instagram

  • SuperMush expanded its portfolio with Daily Lion’s Mane Gummies. The product is formulated with Lion’s Mane extract and L-Theanine to support memory and focus. You can find Daily Lion’s Mane Gummies online and in-store at Target. Instagram

Food, Beverage, and Alcohol

  • Mid-Day Squares expanded its No Bread PB&J line with a new flavor: Grape. The new flavor will begin rolling out at Target in May. Unsurprisingly, the No Bread PB&J line has become a top-seller for Mid-Day Squares. Twitter

  • Kraft Heinz is adding a dash of functionality to Capri Sun. Capri Sun Hydrate is a new electrolyte-infused beverage line for kids. Each serving delivers an essential blend of electrolytes and Vitamin E, with 50 percent less sugar than the leading regular sports drinks, and no artificial flavors, colors or preservatives. Twitter

  • Jeni’s Splendid Ice Creams has appointed David Stever as CEO to lead the company’s next phase of growth. Prior to joining Jeni’s, Stever spent more than two decades at Ben & Jerry’s where he eventually served as both CMO and CEO. PR Newswire

  • Gaptooth Soda is a newish botanical fruit soda brand from Ontario. Saint Urbain did the branding which is quirky, approachable, and warm. Gaptooth offers elevated flavors like Yuzu with Sansho Peppercorn & Chamomile Tea. It looks like they’re launching two new flavors soon too. LinkedIn

  • High-performance cooking oil specialist Zero Acre Farms launched an Organic Fera Fruit Oil for the foodservice channel. The single-ingredient fruit oil offers restaurants an alternative to various seed oils used for frying. Zero Acre Farms is backed by Collab Fund, Climate Capital, and several others. PR Newswire

  • Target is lobbying Congress on hemp, specifically on policies regarding hemp in food and beverage products. Target recently secured 72 more licenses to sell low-potency hemp products across Minnesota. Twitter

  • Unreal Snacks, Partake Foods, and Dandies Marshmallows joined forces on a limited-edition S’mores Kit. The product is currently available at Target nationwide. The branding is excellent. Target

Data 🖥️

  • Amy’s Kitchen has very quietly become a force in the frozen category as retail sales are approaching $1B. The company’s products are available in more than 57,000 stores across the U.S. PR Newswire

  • Tivoli Brewing Company is now the 18th largest craft brewer in the U.S. thanks to the enormous success of Outlaw Light. Founded in 2022 and available in 49 states, Outlaw Light finished 2025 as the fastest-growing independent light beer brand in the U.S. Tivoli is also now the 2nd largest craft brewer in Colorado behind Monster Brewing. Twitter

  • GLP-1 adoption in the UK is on the rise and has nearly doubled over the past nine months. Talking Retail

Distribution News 🚚