• This Week in CPG
  • Posts
  • Manzanita Buys D.S. & Durga, InvestBev Backs JuneShine 🍹

Manzanita Buys D.S. & Durga, InvestBev Backs JuneShine 🍹

Author

CPG WIRE
February 01, 2024

Welcome back to This Week in CPG, folks. We have lots to cover today so let’s dive right in:

  • Our Home buys Utz assets 🥨

  • YETI acquires Mystery Ranch 🎒

  • Tom Brady x Mike Repole 👀

  • A.P.C. expands into self-care 🧴

  • MUSH refreshes packaging 🆕

Shout-out to Barrel, the go-to web agency for brands like KIND Snacks, Dr.Jart+, Sweet Loren’s, Austin Eastciders, The Nue Co., and many others.

Manzanita Buys D.S. & Durga 📈

Manzanita Capital has made a fortune buying and selling fragrance brands, so it’s not very surprising that they’re purchasing another emerging fragrance brand. 

Yesterday, the London-based investment firm announced that they’re acquiring a majority stake in D.S. & Durga, a Brooklyn-based fragrance brand that launched in 2009. 

Founded by husband-and-wife duo David & Kavi Moltz — a musician and an architect, respectively — D.S. & Durga has established a cult following among fragrance nerds by producing quirky scents like Pistachio, Burning Barbershop, Debaser, I Don’t Know What, and many others. 

While perfumes are their bread and butter, D.S. & Durga also offers candles, air fresheners, and they recently started selling personal care products like body wash and hand lotion. The brand operates four retail stores — three across New York City and one in Venice Beach — and they also retail at Bergdorf Goodman, Bloomingdale’s, Liberty London, Neiman Marcus, Mecca Beauty, and Violet Grey. 

Manzanita Capital will be an ideal partner for D.S. & Durga during their next phase of growth. Manzanita is intimately familiar with the prestige fragrance category — they acquired Diptyque in 2005 and turned it into a fragrance powerhouse, and they owned Byredo before selling it to Puig for $1B in 2022 — so they’re a perfect match for D.S. & Durga as they scale their retail operations and international presence.

More on the transaction here.

The Go-To Web Agency for CPG Brands 👇

Barrel helps consumer brands design and develop impactful web experiences.

Since 2006, we’ve helped build digital experiences for well-known brands like KIND Snacks, Dr.Jart+, Sweet Loren’s, Austin Eastciders, The Nue Co., and many others. We’re also Shopify Plus Partners.

If you’re interested in taking your web experience to the next level, contact us here. We’d love to hear from you.

Deals 💰

Mergers & Acquisitions 

  • Our Home — a vertically integrated snack company that owns Popchips and You Need This — is acquiring two brands and three manufacturing facilities from Utz Brands for $182.5M. The two brands included in the sale are R.W. Garcia and Good Health. Our Home now owns five manufacturing facilities across the U.S. and boasts a wider selection of salty snack brands. Food Business News

  • YETI Holdings (NYSE: YETI) is acquiring Mystery Ranch, a Bozeman-based designer and manufacturer of durable backpacks, bags, and pack accessories. Terms of the deal weren’t disclosed. This acquisition makes a lot of sense for YETI. Both organizations share similar values — durability and longevity — and YETI will be able to leverage Mystery Ranch to push into a variety of new categories. Business Wire

  • The GOAT Tom Brady is merging his wellness brand, TB12, and his apparel company, Brady Brand, with fast-growing sportswear brand NOBULL. Tom Brady will become the second largest shareholder in NOBULL behind BodyArmor founder Mike Repole who acquired the brand last year. Front Office Sports

  • PANOS Brands is acquiring bankrupt salad dressings brand Tessemae’s for an undisclosed sum. Tessemae’s is a leading producer of both refrigerated and shelf stable salad dressings. Their products are terrific. PR Newswire

Fundraising

  • Popular hard kombucha and canned cocktail brand JuneShine secured a seven-figure investment from private equity firm InvestBev. Last year Reuters reported that JuneShine was looking for a buyer and was on pace for $40M in FY sales. The Spirits Business

  • Edinburgh-based spirits producer Holyrood Distillery raised $2.5M in funding from Ferovinum, a growth partner for wine & spirits brands. Holyrood Distillery produces a variety of spirits including gin, rum, and whisky. The Drinks Report

  • The Zero Proof, an online retailer of adult non-alcoholic beverages, raised Series A funding from Asahi, Springdale Ventures, and others. PR Newswire 

What’s New 🤩

Apparel, Cosmetics, and Wellness

  • French fashion brand A.P.C. is expanding into personal care with a collection of six products. Prices range from $20 for lip balm to $85 for cologne. I dig the packaging. L Catterton acquired the brand last year and expanding into personal care seems like a natural progression. A.P.C. 

  • David Yurman launched its first-ever high jewelry collection for men. Michael B. Jordan is the face of the 30-piece collection. National Jeweler

  • Calling, a new clean beauty brand from London, officially launched with one product — a face mist called Face Fog. Beauty Independent

  • Pattern Beauty, the clean haircare brand founded by Tracee Ellis Ross, launched its haircare collection in a new scent — Palo Santo. The packaging is stunning. Pattern

Food, Beverage, and Alcohol

  • Robert Downey Jr. has joined forces with serial CPG entrepreneur Craig Dubitsky to launch a coffee brand called Happy. The brand, which focuses on sustainability, traceability, and mental health, sells ground coffee, whole bean coffee, coffee pods, and instant coffee. Previously Dubitsky founded oral care brand Hello and lip care brand eos. Inc.

  • TALEA Beer Co. and Fly By Jing are collaborating on a new brew — Sichuan Weekender Lager. The two brands are throwing a launch party at TALEA Williamsburg on Saturday, February 3rd. Instagram

  • Pretty Tasty, a new collagen-infused tea brand, officially launched with a line of RTD teas. Two flavors are available — Peach & Raspberry — which you can purchase via their website and on Amazon. Pretty Tasty

  • Diageo has expanded its range of premium RTD cocktails with the launch of The Astral Margarita. PR Newswire

  • Serial beverage entrepreneur Lance Collins has launched a new beverage brand, Recover 180, which is focused entirely on hydration and recovery. The brand is available at Sprouts, QuikTrip, and Amazon. PR Newswire

  • It appears that MUSH is rolling out a slight packaging refresh. I like it. More on what variables they changed at the link. Twitter

Data 🖥️

  • Australian baby formula brand Bubs is growing fast in the U.S. In Q2, revenue surged 498% to $13.7M. Inside FMCG

Distribution News 🚚