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Olaplex Buys Biotech Startup, Painterland Closes Round 🥛

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CPG WIRE
August 28, 2025

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

  • 818 scores strategic investment 📈

  • Maxx Crosby backs RECOVER 180 💧

  • Sauz unveils limited edition SKU 🍝

  • Ghost teases protein bars 👻

  • Laurel’s went storewide at WFM 🐮

Deals 💰

Mergers & Acquisitions 

  • Olaplex made its first acquisition in company history with Purvala Bioscience, a Boston-based biotech company. Purvala was founded in 2020 by Dr. Bradley Olsen, a Professor of Chemical Engineering at MIT. The company’s objective is to discover bioinspired technologies with applications in the health & beauty industries. Olaplex had a market cap north of $18B in 2021 but is now valued just below $1B. Business of Fashion

  • Denver-based private equity firm Fruition Partners has acquired The Memory Company (TMC), a developer of sports-branded drinkware and home decor. TMC founder Charles Sizemore will retain a significant equity stake. PR Newswire

  • Global dairy cooperative Fonterra is selling its consumer business to Lactalis for $2.2B. This is another big deal for French dairy giant Lactalis who acquired General Mills’ North American yogurt biz for $2.1B in late 2024. Reuters

Fundraising

  • Painterland Sisters, an organic skyr yogurt brand, closed a 7-figure seed funding round. The round was co-led by The Angel Group, its partner fund Supernatural Ventures, and Spacestation Investments. Painterland Sisters was founded by sisters Stephanie & Hayley Painter, fourth-generation farmers on a mission to preserve their family's regenerative dairy farm. The brand sold more than 5.7 million cups in 2024 and is the fastest growing dairy brand in terms of dollar growth. PR Newswire

  • Debut, a biotech company using AI to discover next-gen beauty ingredients, raised $20M in fresh funding. Investors include Fine Structure Ventures, L’Oreal, GS Futures, and a handful of others. L’Oreal first backed the San Diego-based biotech company in 2023. Cosmetics Business

  • Kendall Jenner’s fast-growing tequila brand 818 scored a strategic investment from the family behind Grupo Solave, the award-winning distillery that produces 818 Tequila. The company also announced that Larry Goodrich will take over as the CEO of Calabasas Beverage Company, the operating company behind 818 Tequila and Sprinter, Kylie Jenner’s RTD vodka soda brand. LinkedIn

  • Skincare brand Magic Molecule landed an investment from NexPhase Capital, a private equity firm with $2.6B AUM. Magic Molecule uses hypochlorous acid to resolve a number of common skin problems. Business Wire

  • According to an SEC filing, non-alc sparkling beverage brand TÖST raised just over $1M in fresh equity funding. The Vermont-based beverage brand was founded in 2014 and secured backing from Constellation Brands in 2023. SEC

  • NFL star Maxx Crosby invested in RECOVER 180, the latest beverage brand from serial entrepreneur Lance Collins. RECOVER 180 debuted in early 2024 and now retails at CVS, H-E-B, Whole Foods Market, and a number of other chains. BevNET

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What’s New 🤩

Apparel, Cosmetics, and Wellness

  • Amika, the haircare brand that Bansk Group acquired in 2022, just launched a hair and body mist line called Amika:Aura. The new line is available online and at Sephora in the U.S. and Canada. Instagram

  • Fara Homidi released a Soft Glass Lip Plumping Oil in two shades: Pomme and Tawny. The product is formulated with peptides and ceramides so it moisturizes and improves volume. Hypebae

  • NEAP is a newish brand that launched an on-the-go protein gel pack. Each pack contains 20g of protein, 80 calories, 1g of carbs, and zero sugar. Four flavors are available: Strawberry, Peach, Mango, and Watermelon. Bullish on this form factor for supplements. NEAP

Food, Beverage, and Alcohol

  • Fast-growing pasta sauce brand Sauz just unveiled its first limited-edition flavor: Sage & Thyme Marinara. The new SKU is available exclusively at Target. Great-looking label. Instagram

  • Brandon Hanson, the co-founder of Hanson of Sonoma Distillery, is betting on the THC beverage category with Goodmellow, an infused sparkling water line. The company offers a 2mg option and a 5mg option. The flavors are pretty novel: Grapefruit Habanero, Strawberry Hibiscus, White Peach Tea, and Meyer Lemon Elderflower. Hanson of Sonoma was the top selling organic vodka brand in California in 2024, so these folks know beverage. BevNET

  • SunSip, the better-for-you soda line from Health-Ade, just dropped their newest flavor: Classic Cola. The new flavor will be available at Whole Foods Market early next month. PR Newswire

  • Plant-based food company Blackbird just released a mini pizza line with two flavors: Cheese and Pepperoni. The new line is available nationwide at Whole Foods Market. Vegconomist

  • Eggo, the iconic breakfast brand owned by Kellanova, expanded its protein waffle range with three new flavors: Buttermilk Vanilla, Vanilla, and Blueberry. PR Newswire

  • Ghost, the beverage brand that Keurig Dr Pepper acquired last year, is reportedly launching a line of protein bars. We know the bar will contain 20g of protein and 270 calories, and we know of one flavor: Chocolate Caramel. Stack3d

Data 🖥️

  • J.M. Smucker reported Q1 results and net sales dipped 1% to $2.1B. More notably, gross profit dropped by $322.5M, or 40%, due to higher commodity costs. Smucker updated its FY guidance however and expects net sales to increase between 3-5%. PR Newswire

Distribution News 🚚