• This Week in CPG
  • Posts
  • Our Home Buys Sonoma Creamery, Greycroft Backs Mother Science 🧪

Our Home Buys Sonoma Creamery, Greycroft Backs Mother Science 🧪

Author

CPG WIRE
May 04, 2024

Congrats on making it to the weekend, folks. Thursday & Friday were pretty sluggish news days so today’s edition is rather truncated. Let’s dive in though:

  • ButcherBox makes media play 🎬

  • Sow Good uplists to the Nasdaq 🍭

  • Serena invests in Cincoro 🍸

  • Two new products from Pleasing đź‘„

  • SunSip launches flavor #5 🍋

Shout-out to Numeral for making e-commerce sales tax such a breeze.

Deals đź’°

Mergers & Acquisitions 

  • Our Home — the BFY salty snack firm that owns brands like Good Health, Popchips, You Need This, and others — acquired Sonoma Creamery for an undisclosed sum. Sonoma Creamery is best known for its baked cheese snacks that retail at Albertsons, CVS, Kroger, Sprouts, and Whole Foods Market. Our Home has been in deal mode lately. Earlier this year, they purchased two brands and three manufacturing facilities from Utz. PR Newswire

  • ButcherBox, the leading DTC meat and seafood brand, announced the acquisition of Truffle Shuffle, a virtual cook-along experience platform. Founded by Jason McKinney and Tyler Vorce, former chefs at French Laundry, Truffle Shuffle hosts on-demand cooking classes with exclusive ingredient kits. ButcherBox CEO Mike Salguero explained the acquisition on Twitter. PR Newswire

Fundraising

  • Mother Science, a biotech skincare brand whose hero ingredient is malassezin, raised $3.5M in fresh funding. Greycroft led the round. Katherine Power, a partner at Greycroft and the co-founder of Merit Beauty, Versed Skincare, and Avaline Wine, will join the board. In April, Greycroft backed Experiment, a popular skincare brand co-founded by Lisa Guerrera and Emmy Ketcham. Global Cosmetics News

  • Freeze dried candy maker Sow Good raised $12M in its Nasdaq uplisting. The Irving-based company currently sells 18 SKUs at over 5,800 retail doors across the U.S. Sow Good's revenue jumped from $428K in 2022 to just over $16M in 2023. Renaissance Capital

  • Serena Williams invested in Cincoro Tequila, the ultra-premium tequila brand founded by Michael Jordan. The Spirits Business

E-Commerce Sales Tax on Autopilot 🎯

Thinking about sales tax yet? Well, you should be. You don’t want states to harass you with late fees and penalties. 

But here’s the thing: we know you’re busy with 20 other things that will grow your business. Sales tax isn’t a priority, but you can’t avoid it. 

That’s why you should use Numeral, the most comprehensive sales tax platform for Shopify brands. 

Guess what? You only need to spend 5 mins or less every month on sales tax. No, that’s not an exaggeration. 

Check out this tweet from Shaan Puri, host of MFM and owner of a successful $25M/year ecom business:

Ready to chat? Schedule a demo with our team today: Numeral Demo.

What’s New 🤩

Apparel, Cosmetics, and Wellness

  • Pleasing, the beauty brand founded by Harry Styles, launched two more lip balm flavors — Peppermint Honey and Vanilla Fig. Instagram

  • Celebrity makeup artist Quinn Murphy launched a new beauty brand called Spatch. The makeup artist has worked with the likes of Kate Hudson, Natalie Portman, and Karlie Kloss. They sell a variety of products but their hero line is the Invisible Spot Fix which is available in six different shades. Business of Fashion

  • JVN Hair, the celebrity haircare brand that Windsong Global purchased from Amyris last year, launched a new product called Intense Hydration Mask. The brand also announced a number of activations in the UK as it looks to continue growing in that market. The Industry

Food, Beverage, and Alcohol

  • SunSip, the gut-healthy soda brand from Health-Ade, released its fifth flavor — Lemon Lime. I’m dying to see SunSip’s scan data from Whole Foods Market. Instagram

  • Harpoon Brewery collaborated with Life is Good, a lifestyle apparel brand, on a hazy blonde ale called Summer Style. PR Newswire

  • St. Helena-based Lorenza Wine Company released a new product — Sparkling Picpoul Blanc. Love the understated but elegant label. Instagram

  • Refrigerated truffle bar maker Honey Mama’s unveiled their newest flavor, Peanut Butter Cup. Their products are incredibly good. Instagram

Data 🖥️

  • Haircare brand Olaplex is slowly righting the ship. After a disastrous 2023, the brands expects FY 2024 sales to be north of $430M and net income to land between $87-100M. The Industry

  • Monster had a pretty decent Q1 with sales up 12% to $1.9B. Gross profit as a percentage of net sales for Q1 was 54.1% compared with 52.8% in the prior year. Reuters

Distribution News đźšš