Honey Mama's and Murphy's Naturals Secure the Bag 💰

Author

CPG WIRE
March 14, 2024

Hello from Expo West, folks! If you’re also in Anaheim for Expo West and want to connect, shoot me an email!

Today’s newsletter is a truncated one due to the show so let’s get into it:

  • Kona Gold bets on Delta-8 🥬

  • BYOMA expands product range 👀

  • Kevin Plank returns ♻️

  • PRIME x LA Lakers 💦

  • Kit NA Brewing heads to Wegmans 🍻

Also there will be no newsletter on Saturday. We’ll be back in your inbox on Tuesday morning though!

Deals 💰

Mergers & Acquisitions 

  • Kona Gold Beverages, a functional beverage holding company, has purchased Covert LLC, a producer of Delta-8 and Kratom products. Kona Gold recently sold better-for-you lemonade brand Ooh La Lemin to Sprecher Brewing Company. PR Newswire

Fundraising

  • Honey Mama’s, an Oregon-based purveyor of refrigerated truffle bars, has raised $8.7M in fresh funding. The round was led by Irresistible Foods Group (IFG) with additional participation from Amberstone and Oregon Venture Fund. If you haven’t tried Honey Mama’s, I implore you to go to Target and grab some. Twitter

  • Murphy’s Naturals, a Raleigh-based seller of natural mosquito repellent products, secured $8M in Series B funding. The round was led by Point King Capital with participation from Emil Capital Partners and John Replogle (the former CEO of Seventh Generation). PR Web

  • Full Glass Wine Co., an acquirer of DTC wine brands and businesses, raised $14.2M in funding. SEC

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What’s New 🤩

Apparel, Cosmetics, and Wellness

  • Fast-growing skincare brand BYOMA is breaking into bodycare with the launch of BYOMA BODY. The sleek new collection features a body wash, body lotion, body polish, body oil, and body serum. Instagram

  • brownkind, a skincare brand that’s designed for the unique aging signs of melanin-rich skin, officially launched with five products. The company was founded by Dr. Abhijit Desai, a practicing dermatologist, and Dr. Gauri Desai, a pathologist. Beauty Independent

  • Kevin Plank, the founder of Under Armour, is returning to the CEO role in order to revive the brand. Late last year, Plank sold his whiskey brand, Sagamore Spirit, to an Italian spirits firm. The Industry

  • Sephora is opening another new store in the UK later this year. The 6,600-square-foot store will be located in Newcastle. Cosmetics Business

Food, Beverage, and Alcohol

  • Plant-based beverage brand REBBL launched a line of functional lattes and a line of protein shakes. I tried the protein shake at Expo West and it was pretty terrific. 28g of protein, 4g of sugar, and great taste/texture. PR Newswire

  • PRIME Hydration was named the official sports drink of the LA Lakers. Another major sports partnership for PRIME to go along with Arsenal, Bayern Munich, and the LA Dodgers. Tubefilter

  • Califia Farms announced the launch of Organic Almond Creamers that are made without gums or oils. The new line is available at Whole Foods Market and Sprouts. PR Newswire

  • PLEZi, the children’s beverage brand founded by former First Lady Michelle Obama, unveiled a new line of carbonated fruit juices. The new line, dubbed PLEZi FiZZ, will be available in three flavors later this year. BevNET

  • Chameleon, the organic coffee brand owned by SYSTM Foods, is doubling down on convenience with their new 8 oz. cans. They look great. PR Newswire

  • High-protein snack brand Legendary Foods unveiled a new line of Popped Protein Chips at Expo West. The packaging is badass and each serving contains 20g of protein and only 4g of net carbs. PR Newswire

Data 🖥️

  • The BFY soda brands continue to grow very, very fast. OLIPOP volume surged 421% while Poppi volume jumped 173% for the four weeks ending on February 24th. Wild. Twitter

  • Boozy whipped cream brand Whipshots has now sold 5M cans. Business Wire

Distribution News 🚚

  • Kit NA Brewing is now available at Wegmans.

  • Snack brand Like Air launched at 1,500 Albertsons stores.

  • Dr. Idriss, formerly known as PillowTalkDerm, launched at 300 Sephora stores.

  • Flecha Azul Tequila, the tequila brand that’s backed by Mark Wahlberg, launched in the UK.

  • Plant-based infant formula brand Else Nutrition launched at Meijer.