Momofuku Grabs Funding, Glossier CEO to Depart 💄

Author

CPG WIRE
June 26, 2025

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

  • Diageo divests Italy operation 🍸

  • Aria Growth raises $152M 💰

  • OLLY expands into personal care 🤔

  • Jon Jones joins Ketone-IQ 🔥

  • Bloom energy sales explode 📈

Deals 💰

Mergers & Acquisitions 

  • General Mills has acquired the parent company of La Tiara, a Kansas City-based producer of taco shells and seasonings. General Mills will pay $10M for the business. La Tiara was founded in 1967 but the company ceased operations earlier this year due to ballooning costs. Food Business News

  • Spirits giant Diageo is selling its Italian operations to NewPrinces Group, a diversified food & beverage manufacturer in Italy. Diageo is making the move to optimize its global production network. The deal includes continuity of employment at the site and a fixed term service agreement. Drinks International

Fundraising

  • According to a report from NOSH, Momofuku Goods secured $26.7M in fresh equity funding. Momofuku, a restaurant group founded by chef David Chang in 2004, created its consumer products division in 2019. Since then, the brand has been on a heater with sales surpassing $50M in 2023. Previous investors in Momofuku include RSE Ventures, Alliance Consumer Growth, and Siddhi Capital. Why the investor appetite? Momofuku Goods is a platform play and similar businesses like Siete and Rao’s have commanded huge valuations upon exit. NOSH

  • Leading growth equity firm Aria Growth Partners raised $152M for its second fund. The announcement comes on the heels off two major exits for the firm. First, Church & Dwight acquired Hero Cosmetics for $630M in late 2022. Second, Hershey purchased LesserEvil Snacks for $750M in April. Aria’s latest invesment, creator-led candy brand Joyride, is poised to be another success for the firm. Business Wire

  • Pimentae, a UK-based purveyor of RTD and RTS tequila cocktails, secured £1.5M in fresh funding. The round was led by FIGR Ventures with participation from Revenge Capital, Solo Investments, and a handful of angel investors. Alice Parmiter and Wynter Karo launched the bar-quality cocktail brand in 2021. The Spirits Business

  • Relentless Consumer Partners and Whole Foods Market invested in Luke’s Lobster, a family-owned seafood business that operates a chain of quick-serve restaurants and sells frozen products via the grocery channel. Luke’s Lobster will use the funding to expand its product range and retail presence. Just Food

The Top CPG Brands Have One Thing in Common - TikTok Shop is Their Fastest Growing Channel 🚨

Zainith Agency is a boutique digital marketing agency exclusively focused on TikTok Shop.

They’ve worked with brands like Obvi, Truvani, Kinobody by Greg O’ Gallagher, Ice Shaker by NFL Star Chris Gronkowski, and more to set-up and scale TikTok Shop to over $15 million in sales last Q4.

For a limited time, they’re offering a free 30-minute consultation/audit for brands doing at least $1 million/year in sales. Claim your spot here.

What’s New 🤩

Apparel, Cosmetics, and Wellness

  • Glossier CEO Kyle Leahy will step down at the end of the year. Leahy first joined the beauty brand as Chief Commercial Officer in 2021 before taking the helm as CEO in May of 2022. She spearheaded Glossier’s expansion into retail, brought the company into the black, and helped launch their fragrance division which will do more than $100M this year. WWD

  • Aesop just opened its first-ever outlet store. The new store is located at Bicester Village in Oxfordshire and will offer Aesop products at up to 70% off their original retail prices. The Industry

  • The founders of Athena Club launched a luxury men’s grooming brand called House of Atlas. The brand currently offers razors, shaving cream, aftershave, and a $10,000 katana (not kidding). Beauty Independent

  • VMS brand OLLY is expanding into personal care with the launch of its functional body washes, body scrubs, and body serums. Body care is without a doubt the hottest category in beauty right now but this feels like a stretch. PR Newswire

  • Dossier, the viral fragrance brand known for its luxury dupes, is opening its first-ever retail store. The 1,300-square-foot store is situated on Elizabeth Street in Nolita. Knocking off pricey beauty products and selling them at accessible prices can be big business. Australia’s MCoBeauty was acquired at a billion dollar valuation earlier this year. WWD

Food, Beverage, and Alcohol

  • GoodPop is exiting the beverage category and will now focus exclusively on its portfolio of better-for-you frozen treats. Daniel Goetz launched the brand in 2009 and they recently unveiled a fruit pop line that’s infused with electrolytes. BevNET

  • Fave’Wich is a new player in the ready-to-eat crustless sandwich category. The product was developed by Gold Medal Bakery in Massachusetts and differentiates by using nut-free butter along with no artificial flavors or high fructose corn syrup. Trend Hunter

  • Creator-led condiments brand Ayoh unveiled their newest flavor — Miso Mayo. Presumably this is the flavor rolling out exclusively at Whole Foods Market next month. Instagram

  • UFC legend Jon Jones has joined Ketone-IQ as Chief Performance Officer. The rise of Ketone-IQ has been impressive to watch. They brought a really novel product to market, got solid retail distribution, and now they’re really dialing up their marketing efforts. Instagram

  • Hydration brand Taste Salud partnered with iconic Mexican soda brand Jarritos to drop four new flavors: Jarritos Mandarin, Jarritos Guava, Jarritos Fruit Punch, and Jarritos Lime. Love this collab for both brands. PR Newswire

  • Protein bar brand B.T.R. Nation released another collaboration with Blue Bottle Coffee. The new flavor — Matcha Honey Crispy Treat — is available exclusively at Blue Bottle locations across the country. Instagram

  • We have more details on the mac & cheese cup line from GOODLES. Two flavors are available — Cheddy Mac & Shella Good — which will hit shelves at Walmart, Target, and Costco over the summer. Each serving contains 10-11g of protein and 5g of fiber. Business Wire

Data 🖥️

  • Bloom Nutrition announced a super impressive company milestone. Since launching their Sparkling Energy range last July, the company has sold more than 35 million cans. Also, according to Numerator, Bloom is the highest trial energy drink launch in history. Instagram

  • On the flip side, PRIME sales continue to utterly collapse. Over the four week period ending on May 31st, PRIME volume dipped 51.6% despite a decent price cut. Brutal. Twitter

Distribution News 🚚