Melitas Backs Final Boss Sour, Grüns Valuation Skyrockets 📈

GM and Happy Thursday, folks. Here’s what we’re covering this morning:

• Cal-Maine buys Echo Lake 🥚

• Constellation divests wine labels 🍷

• Rosaluna Mezcal secures funding 💵

• SZA unveils beauty brand 💄

• Bang Bang x One Trick Pony 🔥

Deals 💰

Mergers & Acquisitions 

• Cal-Maine Foods, the largest egg producer in the U.S, acquired Wisconsin-based Echo Lake Foods for $258M. Echo Lake Foods was founded in 1941 and manufactures a wide variety of ready-to-eat egg products and other breakfast items. The move will enable Cal-Maine Foods to diversify its product offering. Food Dive

• Constellation Brands sold a wide variety of its wine labels to the aptly named The Wine Group. Assets included in the divestment are Meiomi, Woodbridge, Robert Mondavi Private Selection, and a handful of other brands. The move enables Constellation Brands to focus on its imported beer and spirits portfolio. VinePair

• Bollywood actor Vivek Anand Oberoi acquired a 21% stake in Rutland Square Spirits, a Scottish producer of craft spirits. Rutland Square differentiates by combining typically British spirits like gin with Eastern botanicals and spices. The Spirits Business

Fundraising

• According to a report from The Information, the valuation of Grüns surged to around $500M after the company secured fresh equity funding. Based on their most recent Form D filing, investors include Headline and Selva Ventures. The comprehensive daily nutrition brand was founded by Chad Janis in 2023. The Information

• Better-for-you sour candy brand Final Boss Sour secured an undisclosed amount of funding from Melitas Ventures. The Los Angeles-based brand was developed in-house by Science Inc. They last raised funding in 2024 when they landed $3M in seed funding. Twitter

• Rosaluna Mezcal raised an undisclosed amount of Series A funding from Sacha Lichine, the French winemaker who made Whispering Angel into a global phenonomen. In addition to investing in the brand, Lichine will also join the board of directors. Rosaluna works with a single-estate, vertically integrated producer to make its mezcal. The brand is positioned as “the less smoky mezcal.” PR Newswire

What’s New 🤩

Apparel, Cosmetics, and Wellness

• Adam Ross, the co-founder and former CEO of Heyday Skincare, is joining goGLOW as a strategic advisor. goGLOW is an all-natural spray tan brand with around 25 retail locations across the U.S. PR Newswire

• Grammy-winning singer SZA is launching a beauty brand called Not Beauty. The brand will launch with lip gloss in three different shades. I’m not so sure about the branding and packaging…Instagram

• Fast-growing footwear and performance apparel brand HOKA opened its first-ever store in Vietnam. The store is located in Saigon Centre in Ho Chi Minh City. Retail & Leisure International

• Adidas and Brain Dead are collaborating for a second time on a spring/summer tennis collection. Hypebeast

Food, Beverage, and Alcohol

• Protein bar brand David is preparing to release its seventh flavor, Cinnamon Roll. Lately David has been under pressure from the seed oil crowd but it doesn’t appear to be slowing them down. Stack3d

• Beverage brand Saint James Iced Tea is graduating from Tetra Pak to infinitely recyclable aluminum bottles. The end result is much cleaner look. For some reason Saint James deleted the press release but there’s a preview on Instagram. Instagram

• Burnt Faith, a London-based craft brandy producer, launched three great-looking liqueur SKUs. The new range includes Elderflower Liqueur, Coffee Liqueur, and Triple Sec. The colorful wax seals are a nice touch. The Spirits Business

• Pringles and Miller Lite joined forces to launch two pretty ghastly potato crisp flavors: Beer Can Chicken and Grilled Beer Brat. PR Newswire

• The Jel Sert Company, a leading manufacturer of powdered drink sticks, partnered with Jamba Juice on a line of functional drink mixes. Each box includes six drink mixes designed for easy hydration and immune support. PR Newswire

• Bang Bang Bakehouse collaborated with One Trick Pony on a PB&J Rum Cake. Bang Bang Bakehouse also released a collab with Zab’s earlier this year. They’re cooking. Instagram

• Asian-inspired sparkling water brand Sanzo released its newest flavor, Mandarin. The new flavor is available nationwide at Whole Foods Market. Great-looking can. Twitter

• There’s a new RTD cocktail brand hitting the market called Spiked Ade. Four flavors will be availabe. Instagram

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Data 🖥️

• The craft beer market declined 4% in 2024 which is the largest drop of all-time according to Axios. Axios

Distribution News 🚚

• BFY frozen fries brand Jesse & Ben’s is launching at Sprouts.

• Viral wellness brand Nello is launching storewide at Target.

• Plink! launched at 1,200 CVS Pharmacy stores.

• O Positiv Health expanded its product offering at Target.