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- L'Oreal Backs Ami Colé, Throne Scores $8M ☕️
L'Oreal Backs Ami Colé, Throne Scores $8M ☕️
CPG WIRE
September 21, 2024
GM and Happy Saturday, folks. Here’s what we’re covering this morning:
Full Glass continues buying spree 🍷
El Guapo raises $1.7M 🍸
Recover 180 secures $51.4M 💧
Aesop x Bocci collab 🕯️
Athletic Brewing tall boys 🍺
Deals 💰
Mergers & Acquisitions
DTC wine platform Full Glass Wine Co. acquired two more wine assets: Splash Wines and Scout & Cellar. Full Glass Wine Co. also owns Winc, Wine Insider, and Bright Cellars. The company expects to generate north of $120M in revenue this year. Business Wire
One week after selling its yogurt division for $2.1B, General Mills CEO Jeff Harmening announced that the company is preparing for an acquisition spree. The cereal, snack, and pet food maker is on the lookout for bolt-on acquisitions and smaller-size assets. Even though they might be too big, Simply Good Foods could be an interesting target for General Mills. Food Navigator
Fundraising
Ami Colé, a clean beauty brand for melanin rich skin, secured an undisclosed amount of funding from L’Oreal’s corporate venture arm, BOLD. Founded by Diarrha N'Diaye-Mbaye in 2021, Ami Colé is available storewide at Sephora North America and posted 75% YoY growth in 2024. Fashionista
When Throne Sport Coffee launched earlier this year, we knew that Patrick Mahomes acted as its lead investor. Thanks to public filings, now we know that Throne Sport Coffee raised a total of $8M. In addition to Mahomes leading the round, a dozen other professional athletes and public figures also participated. Twitter
El Guapo, a New Orleans-based producer of artisan syrups and bitters for the cocktail market, raised $1.7M of venture funding from The Angel Roundtable. El Guapo was founded by Christa Cotton in 2017. PitchBook
Opopop, a gourmet popcorn brand from Englewood, Colorado, secured $1.9M in fresh equity funding from undisclosed investors on September 11th. Opopop previously raised $12M ahead of its launch in 2021. SEC
Recover 180, a purveyor of organic hydration beverages, raised $51.4M in venture funding from Accretion Capital and Dhuna Ventures. Recover 180 was co-founded by serial beverage entrepreneur Lance Collins. The brand retails at QuikTrip, Sprouts, Whole Foods, and on Amazon. PitchBook
East Forged, an Australian producer of cold brew nitro tea, secured $1.5M AUD from Global Mind Agriculture Australia (GMAA). East Forged plans to use the funding to launch in Japan and South Korea. Their branding is fun. Inside FMCG
Standing Ovation, a French startup that produces animal-free cheese, raised €3.75M in Series A+ funding from existing investors. Thus far Standing Ovation has raised a total of €23M over four years. FoodBev
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What’s New 🤩
Apparel, Cosmetics, and Wellness
Luxury personal care brand Aesop collaborated with Bocci on a…table lamp. It’s actually pretty stunning and it wouldn’t be surprising if Aesop launched more luxury homeware products. Hypebeast
Wellious, a purveyor of vegan protein products, collaborated with Danielle Brown, a popular vegan food influencer, on a limited edition Peanut Butter Chocolate Protein Powder. The product is comprised of only four ingredients. BevNET
Influencer and makeup artist Daisy Marquez partnered with Slate Brands to launch a new beauty brand. — Bella Perversa. The new fragrance line will launch online on Tuesday. WWD
Food, Beverage, and Alcohol
Athletic Brewing unveiled their latest “innovation” — tall boys! Athletic Brewing is also trialing kegs in Milwaukee. Love it. Instagram
Bolthouse Fresh Foods, the recently spun-off fresh produce division of Bolthouse Farms, unveiled a great-looking packaging refresh. Food Navigator
Better-for-you snack brand Myna Snacks launched their newest product, Pizza Crackers. These crackers are gluten-free and contain a good amount of protein (7g per serving). Business Wire
EQUII, a food tech startup that produces protein-packed yeast flour, announced a major partnership with Bridor, the French baking giant. In short, EQUII will supply Bridor with high-protein flours that will be used in a wide variety of baking products. PR Newswire
Non-alc functional beverage brand Kin Euphorics launched a new beverage — Luna Morada Metabolic Tonic. The new product is a smoky take on a Chicha. Beautiful can. Instagram
Data 🖥️
Sales of hemp-derived THC drinks were up by 143% in 2023, according to data from the Brightfield Group. BevNET