Gloss Ventures Raises $15M, Slice Returns 🫧

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

• Unilever buys Minimalist 💰

• Nécessaire names new CEO 👀

• Crown Affair expands lineup 📈

• Hormbles Chormbles teases launch 🍫

• MOSH lands at Fred Meyer 🧠

Deals 💰

Mergers & Acquisitions 

• Two UK-based premium spirits firms, Babco and Innovatus Drinks, are merging to form a company with combined revenue of just over £4M. Babco owns Neptune Rum and Tofka, while Innovatus owns Horse Guards Gin, Wing Walker Rum, and Pedrino Spritz. The Spirits Business

• Benford Capital Partners exited its position in Pasture Brands, the owner of Farmers Hen House and Pillars Yogurt. Benford partnered with Pasture Brands and its CEO, Ryan Miller, in late 2021. BCP

• American Exchange Group (AXNY Group) has acquired Urban Skin Rx, an inclusive skincare brand that licensed aesthetician Rachel Roff launched in 2010. AXNY Group is a brand management firm and a producer of fashion accessories. Lately they’ve been acquiring a lot of beauty brands, including Indie Lee, Naturewell, TXTUR, and Found Active. PR Newswire

• Unilever’s India division acquired beauty brand Minimalist for around $342M. Unilever will acquire an initial stake of 90.5% and will buy the remainder from the founders in two years. TechCrunch

Fundraising

• Gloss Ventures, a holding company focused on creator-led beauty brands, secured $15M in growth capital from Peterson Partners. Gloss Ventures is the company behind two brands: Sacheu Beauty and Glossmetics. Sacheu, which launched in 2021, generated more than $40M in revenue last year. Peterson Partners is an independent investment firm based in Salt Lake City. Their other consumer investments include Bonobos, Cotopaxi, Madison Reed, and solidcore. Beauty Independent

What’s New 🤩

Apparel, Cosmetics, and Wellness

• Nécessaire announced that Chitra Balireddi is taking over as CEO. Randi Christiansen, the co-founder & CEO of Nécessaire, will transition to the role of board member with a focus on brand, product, and impact. Chitra Balireddi most recently served as Chief Commercial Officer at Glossier where she focused on omnichannel and international expansion. PR Newswire

• Vital Proteins (acquired by Nestle in 2020) is expanding into the fast-growing colostrum category with their latest SKU. PR Newswire

• Crown Affair just launched two new wash day duos: The Hydrating Shampoo & Conditioner and The Volumizing Shampoo & Conditioner. Both sets are available via their website and online at Sephora. Instagram

• Vacation unveiled their latest innovation — Orange Gelée SPF 30 Spray Oil. The packaging is killer and the accompanying campaign is also fun and on-brand. Instagram

• Kendra Scott and Marchon Eyewear have entered into an exclusive, long-term licensing agreement. The first-ever eyewear collection from Kendra Scott will hit the market in September. Fashion United

Food, Beverage, and Alcohol

• BFY candy brand Hormbles Chormbles is launching in the very near future. The company was co-founded by Jared Smith (RXBAR), Peter Rahal (ditto), and Tom Melcher (Feastables COO). Each candy bar contains an impressive 10g of protein, 0g of sugar, and 100 calories. Hormbles Chormbles

• ChiChi, a purveyor of high-protein, chickpea-powered oatmeal, just announced a sleek packaging refresh. They dialed up the color, made their protein callout more visible, and added a few other callouts for good measure. ChiChi will also launch a few new flavors in the near future as well. Instagram

• Thanks to the folks at Suja Life, iconic 80s soda brand Slice has returned. Suja Life acquired Slice’s IP in May of 2024, repositioned the brand as a healthier soda option, and just returned to market. You can find Slice at select Albertsons, Costco, H-E-B, and Target stores. Branding looks good 👇 PR Newswire 

• Once Upon a Farm added two refrigerated protein bars to its lineup. Each bar contains 8g of protein, real fruits and veggies, and no-added sugar. PR Newswire

• Another day, another Hot Ones licensing agreement. Snak Club partnered with Hot Ones to release a line of sweet & spicy nuts. Would love to know how much licensing revenue Hot Ones is generating. PR Newswire

• It appears that Halfday Iced Tea is rolling out a whole new look. Some folks are dunking on the brand refresh but rolling out a new look that will likely appeal to a much broader audience is a no-brainer. Twitter

• Throne SPORT COFFEE unveiled their newest flavor — Mint Mocha. The new flavor is available exclusively on Amazon and will expand to retail throughout Q1. PR Newswire

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Data 🖥️

• McCormick (NYSE: MKC) reported its Q4 results. Total net sales increased 2.6% year-over-year which beat analyst expectations. Adjusted EBITDA margin came in at 22.5% which also exceeded analyst expectations. Yahoo Finance

• Electrolit continues its quiet, impressive rise. Volume grew by 22.4% last year. Twitter

Distribution News 🚚

• Functional beverage brand BRĒZ partnered with DoorDash.

• Revl Fruits went nationwide at Whole Foods Market.

• BERO officially launched in the UK.

• MOSH launched at 95 Fred Meyer stores.

• Dutch Barn Vodka expanded into Belgium.