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  • Gallo Buys Waterbird Spirits, Kaho Sells Kenny's Great Pies 🥧

Gallo Buys Waterbird Spirits, Kaho Sells Kenny's Great Pies 🥧

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CPG WIRE
May 25, 2024

GM and Happy Saturday, folks. I’m heading out of town tomorrow so there will be no newsletters next week 😭 You can stay up to date on all things CPG on our Instagram and Twitter, however.

Let’s get into the newsletter:

  • Craize scores funding 💰

  • Gutzy refreshes packaging 🔥

  • JAJA Tequila RTDs 👀

  • OLIPOP’s insane growth 📈

  • ByHeart launches at Publix 🍼

Deals 💰

Mergers & Acquisitions 

  • Gallo continues to keep its investment bankers busy. The third largest spirits player by volume in the U.S. acquired Waterbird Spirits, a Charlottesville-based RTD cocktail brand that launched in 2019. Since launching High Noon in 2019 — which sold over 21M cases last year —Gallo has built a formidable stable of RTD brands via acquisition and partnerships. LinkedIn

  • Kaho Partners, a thesis-driven investment firm, has sold Kenny’s Great Pies to Dessert Holdings, a portfolio company of Bain Capital. Kenny’s Great Pies was founded in Smyrna, GA and produces cream-based pies and pie fillings. PR Newswire

Fundraising

  • Popular haircare brand Crown Affair secured $1.6M in debt financing. SEC 

  • UK-based Hunter & Gather raised £500K in equity funding from existing investors. The company sells better-for-you condiments, cooking oils, sauces, and supplements. They achieved revenue of £6.8M last year. The Grocer

  • Craize Snacks, a Miami-based producer of better-for-you crackers, raised $2.1M in equity funding from undisclosed investors. Apparently their products are delicious. SEC

  • Good Guys Bakehouse, a UK-based producer of biscuit melts, raised a six-figure round from a number of influential CPG angel investors. The Grocer

What’s New 🤩

Apparel, Cosmetics, and Wellness

  • Kylie Cosmetics has launched yet another lip range — Supple Kiss Lip Glaze. The hydrating lip glaze is available in six shades. Love the packaging. Instagram

  • Brunch, a New York-based lifestyle slipper brand, is opening a pop-up in the Hamptons this summer. The pop-up opens this weekend and will remain open throughout the summer. Their slippers are pretty cute. Footwear News

  • Khloé Kardashian announced a new collaboration with Tatti Lashes, a British beauty brand that sells false eyelashes. Tatti sells an eyelash every six seconds and sold 5 million units last year. WWD

Food, Beverage, and Alcohol

  • Gutzy, a purveyor of organic, gut-friendly snacks, unveiled a whole new look. The revamped packaging is an improvement. They’ve graduated from functional brand to lifestyle brand. Food Dive

  • JAJA Tequila, the beloved, celebrity-backed tequila brand, is launching a new range of RTD tequila cocktails. JAJA is a fantastic brand and a great product, but piling into the very crowded RTD category seems like an expensive, margin-eating miscalculation. Instagram

  • Founders Brewing Co., the thirteenth largest craft brewery in the U.S., launched a non-alcoholic hop water called Hoppy Mood. Food Dive

  • Oxford Artisan Distillery, an English whisky distillery that uses heritage grains, has rebranded as Fielden Whisky of England. The Spirits Business

Data 🖥️

  • BFY soda brand OLIPOP expects to hit $500M in sales this year. For context, OLIPOP sales in 2023 were $200M, while 2019 sales were less than $1M. An insane growth trajectory. Bloomberg

  • Hostage Tape is projecting revenue of $40M this year, up from $14M in 2023. Modern Retail

  • Some fascinating data on the RTD cocktail category. It’s hard to believe a fairly mature brand like High Noon grew 31% year-over-year to over 21 million cases. Also The Finnish Long Drink is becoming an absolute monster. Beverage Dynamics

Distribution News 🚚