Laoban Lands $4.8M, Starface Expands Offering ⭐️

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CPG WIRE
July 16, 2024

Welcome back to This Week in CPG, folks. If you enjoy this newsletter, please forward it to others who might get a kick out of it too. Let’s dive into the newsletter:

  • Shiseido chases OSEA 🌊

  • Amboy Street looks to raise $50M 💰

  • Homecourt expands lineup 🆕

  • Stoke Deli Bar refresh 💯

  • Doré launches at Ulta Beauty 📈

Deals 💰

Mergers & Acquisitions 

  • Japanese beauty giant Shiseido is reportedly interested in acquiring OSEA, the clean skincare brand that was founded in 1996. OSEA retails at Ulta Beauty and expects net sales to be around $100M this year. Shiseido acquired Dr. Dennis Gross and launched a venture fund called LIFT Ventures late last year. WWD

  • WH Group, the world’s largest pork producer, is looking to spinoff the U.S. and Mexico divisions of Smithfield Foods and list them in New York. Hong Kong-based WH Group hopes to raise $1B via the IPO. Bloomberg

Fundraising

  • Laoban, a DC-based purveyor of frozen dumplings and bao buns, secured $4.8M in equity funding from undisclosed investors. Laoban launched as a restaurant in 2017 before expanding into packaged foods in 2021. The brand retails at Costco, Sprouts, Whole Foods Market, and many other retailers. SEC

  • African skincare brand Uncover raised $1.4M in an oversubscribed funding round. The round was co-led by EQ2 and IgniteXL Ventures. The Nairobi-based brand launched in 2020. Beauty Independent

  • Amboy Street Ventures, a leading investor in women’s health and sexual wellness startups, is raising $50M for Fund II. Thus far the LA-based firm has invested in Aunt Flow, Dame, Playground, and a number of other startups. SEC 

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What’s New 🤩

Apparel, Cosmetics, and Wellness

  • Starface is expanding beyond pimple patches with a new line of lip balms called Star Balm. The new line will launch on August 22nd and the packaging is stunning. Starface doesn’t miss. Instagram

  • LA-based fragrance brand Régime des Fleurs unveiled their latest scent — Crushed Fruits. Instagram

  • Homecourt, the luxury homecare brand founded by Courteney Cox, expanded into the body care category ahead of its third anniversary. Glossy

  • London-based beauty and wellness brand NEOM opened a retail store in New York City. This is the brand’s first store in the U.S. WWD

Food, Beverage, and Alcohol

  • Plant-based cheese brand CREDO launched a new range of Oat Milk Cheeze Sprays. Love the fun, nostalgic packaging. They really nailed it 👇 Vegconomist

  • Premium hydration brand Cadence landed ultra runner Max Jolliffe as their first official athlete. Instagram

  • Ontario-based Stoke Deli Bar refreshed their packaged foods line. Awesome work from Boredom Kills Creative. Asymmetric labels are really having a moment. Instagram

  • Nestlé has developed a new high-yielding Arabica coffee variety called Star 4 in an effort to strengthen its coffee supply chain amid the threat of climate change. FoodBev

  • Cold brew liqueur maker Café Solo launched a ready-to-drink espresso martini. Instagram

  • Hotel Chocolat, the luxury chocolate producer that Mars acquired for £534M last year, plans to open 25 new stores across the UK. Business Matters

  • French spirits firm Pernod Ricard is doubling down on the American whiskey category with their new North American Distillers (NADL) division. Pernod’s American whiskey portfolio includes Jefferson’s, TX, Rabbit Hole, Smooth Ambler, and Skrewball. The Drinks Business

Data 🖥️

  • Celsius shares dipped 10% yesterday after TD Cowen lowered their price target. The energy drink brand is down more than 45% from its 52-week high. The Motley Fool

  • Roughly 80% of shoppers cannot match celebrities to the brands they own. Twitter

Distribution News 🚚

  • French-inspired skincare brand Doré is launching at Ulta Beauty.

  • Popcorn brand Be Happy Snacks relaunched at Walmart.

  • Blueland launched their Dishwasher Tablets nationwide at Costco.

  • Muddy Bites launched at Costco in Texas and New York.