Indu Raises Over $5M, InvestBev Backs Sechey 🍸

CPG WIRE
August 13, 2024

Welcome back to This Week in CPG, folks. Yesterday was a slow-ish news day so today’s edition is a shorter one. Let’s dive in:

Deals 💰

Mergers & Acquisitions

Butterworks Farm, a Vermont-based producer of organic and grass-fed dairy products, was acquired by three individuals: Anthony Calderaro, Ania Kuniej, and Joseph Calderaro. Butterworks is best-known for their organic yogurts but they also produce kefir, heavy cream, and buttermilk. Business Wire

Fundraising

Sechey, a Charleston-based non-alcoholic beverage retailer, secured an undisclosed amount of funding from InvestBev, a leading private equity firm in the adult beverage category. Sechey was founded in 2021 by Emily Heintz. The company has a high-profile partnership with Target and supplies the retailer with a variety of non-alc beverage brands. Food Business News
Clean haircare brand RŌZ raised an undisclosed amount of seed funding from Silas Capital, G9 Ventures, and Lily Collins. Celebrity hairstylist Mara Roszak launched the brand in 2021. RŌZ retails at Credo, Goop, Neiman Marcus, Nordstrom, and Revolve. Beauty Independent
UK-based teen beauty brand Indu raised more than $5M from the likes of Unilever Ventures, V3 Ventures, and others. Aaron Chatterley launched Indu in 2021. Prior to founding the beauty brand, Chatterley sold online beauty retailer Feelunique to Sephora. Beauty Independent

Apparel, Cosmetics, and Wellness

Dyson has expanded into headphones with their new OnTrac line. Unsurprisingly, they look stunning. Hypebeast
Ariana Grande partnered with Luxe Brands to expand her fragrance portfolio. Her latest fragrance, Lovenotes, is available at Ulta Beauty and Sephora. Happi
Vacation revived Orange Gelée earlier this year and now more brands are piling into the space. The latest is Summer Gelée which sells two SPF products. Summer Gelée
Byredo, the luxury fragrance brand that Puig acquired in 2022, unveiled their newest scent — Desert Dawn. Instagram

Food, Beverage, and Alcohol

SkinnyDipped is expanding into savory snacks with their new Salty + Sweet line. They technically haven’t announced the launch yet but the products are available on Amazon. Expanding into savory snacks is a no-brainer for SkinnyDipped 👇 Twitter

Spirulina beverage brand BLUwater unveiled a sleek brand refresh. The benefits of spirulina are well-documented but it’ll be interesting to see if spirulina can break into the mainstream. BevNET
Florence-based AUGE Design put together some stunning packaging for BIS!, the new ice cream sandwich line from Italy’s Sammontana. Their work is usually pretty terrific. Instagram
RTD cocktail brand Bluebird Hardwater released a range of flavored cocktails made with real juice. The new line is available at Ralphs and Total Wine in Southern California. PR Newswire

Healthcare apparel brand FIGS released their Q2 results. Revenue increased 4.4% YoY to $144.2M while gross margin and net income both dipped. Active customers increased 6.1% to 2.6M while AOV dipped 1.7% to $113. Business Wire