OLIPOP Explores $200M Raise, Rogue Launches đź’Ş

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CPG WIRE
May 05, 2026

Welcome back to This Week in CPG, folks. Here’s what we’re covering this morning:

  • Birchwell makes first acquisition 🌲

  • True Beauty Ventures announces Fund III đź’„

  • Nonfiction opens first U.S. store 🍎

  • Nurri expands into children’s nutrition 🥛 

  • Leisure lands at Target đź’§

Deals đź’°

Mergers & Acquisitions 

  • Birchwell Consumer Health, a new OTC & skincare platform from Avista Healthcare Partners, announced its first-ever acquisition with Bag Balm, a Vermont-based therapeutic skincare brand. Bag Balm was created in 1899 and has been majority owned by Gemini Investors since 2014. LinkedIn

  • New York-based beauty incubator Maesa announced the sale of Anomaly Haircare to Reliance Retail, India’s largest retailer. Maesa launched Anomaly alongside Priyanka Chopra Jonas in 2021. Anomaly exited the U.S. market toward the end of 2025 but thrived in select international markets like India. Business Wire

Fundraising

  • True Beauty Ventures kicked off its fundraising efforts for Fund III. Since launching in 2020, True Beauty Ventures has assembled a stellar portfolio across beauty, wellness, and personal care. Previous investments include Vacation, K18, Jupiter, Crown Affair, Biologica, and several others. LinkedIn

  • Quinn, a Colorado-based better-for-you snack brand, secured an undisclosed amount of debt financing from SG Credit. Kristy Lewis launched Quinn in 2010 and the brand is available at 20,000 doors across the U.S. SFNet

  • According to Axios, modern soda brand OLIPOP is working with Morgan Stanley to raise $200M after M&A talks with Coca-Cola (and others) ended without a deal. OLIPOP’s previous backers include Monogram Capital, Barrel Ventures, BFG Partners, and J.P. Morgan. Axios

  • CAVU Consumer Partners announced two major investments toward the end of last week. First, CAVU led a $15M seed investment in Crazy Mountain, the non-alc beer brand created by the trio behind Casamigos. Coatue and Discovery Land Company also participated in the round. Second, CAVU led an $8.5M Series A round for Gymkhana Fine Foods, the UK-based purveyor of chef-crafted marinades and summer sauces. Gymkhana Fine Foods recently debuted at Whole Foods Market in the U.S. Instagram

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What’s New 🤩

Apparel, Cosmetics, and Wellness

  • After co-founding Naturium and selling it for over $350M, Susan Yara is back in the beauty game with Playa, a fragrance-forward hair and body care brand. Playa launched on May 1st with one product: Nuevasol Fragrance-Depositing Gloss Rinse. For now, Playa is available exclusively via their website. Playa

  • South Korean fragrance brand Nonfiction just opened its first store in North America. The 855-square-foot boutique is situated on Orchard Street in New York’s Lower East Side. Nonfiction was founded in 2019 by Haeyoung Cha and sales topped $35M in 2024. Beauty Independent

  • Freaks of Nature is launching a body SPF product called Solar Shield Spray later today. The 100% mineral sunscreen is SPF 30 and water resistant. Freaks of Nature has dialed up the innovation in 2026. They launched a skin support electrolyte drink mix line in March. Instagram

  • Dr. Squatch entered the sun care category with its new SPF 30 Sunscreen Spray. Two scents are available: Coconut Castaway and Amber Solstice. Trend Hunter

Food, Beverage, and Alcohol

  • Rogue is a new protein snack company co-founded by Tommy Riggs and Science, Inc. The company launched with four protein chip & puff SKUs. The branding is excellent and they offer fun flavors like Spicy Chicken Sandwich, Churro, and Buffalo Chicken Wing. Rogue will launch at 2,800 Walmart doors in July. Instagram

  • Nurri, the 9-figure ultra-filtered protein shake producer, is moving into children’s nutrition with its newest line: Nurri Kids. One flavor is available and each shake contains 10g of protein, 2g of sugar, and 9 essential vitamins & minerals. The new line launched exclusively at Sam’s Club. Stack3d

  • Creator-led condiment brand Ayoh just reformulated its mayo line with avocado oil, replacing high-oleic sunflower oil. The upgraded mayo now features a creamier texture and more neutral canvas for the brand’s signature flavors. Nosh

  • Easy Does It, the non-alc beer brand co-founded by skater Erik Ellington, just dropped its second brew which is a Mexican Style Lager. It’s a great-looking can. Easy Does It

  • Fruit Riot released a limited-edition collab with SunnyD. The new product, Fruit Riot x SunnyD Crunchy Candy Mango, has already been spotted at select Target stores. Twitter

  • Collagen-infused iced tea brand Pretty Tasty unveiled a sleek new look. The updated packaging is a major improvement. Cleaner, bolder, and better protein + sugar callouts. Great work from Cameron Hill. Instagram

  • Kettle & Fire and Force of Nature Meats have been teasing an upcoming collab on Instagram and it’s going to be a Bison Bone Broth. This is going to do numbers. Kettle & Fire

  • Honey Moo is a new honey-sweetened ice cream bar brand. The company debuted with three flavors: Pistachio, Coffee, and Vanilla. Honey Moo is available exclusively at Whole Foods Market. Honey Moo

Data 🖥️

  • Plant People is now the #1 mushroom supplement brand at Target less than six months after launching at the retailer. Plant People secured backing from Manna Tree in November, right after the brand expanded its retail footprint at Target. LinkedIn

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