- This Week in CPG
- Posts
- P&G Acquires Thorne, NOON Secures $2.5M 🍳
P&G Acquires Thorne, NOON Secures $2.5M 🍳
CPG WIRE
August 05, 2026
Welcome back to This Week in CPG, folks. Here’s what we’re covering this morning:
Axum takes control of Barcode 💧
Neutonic grabs another 7-figures 🧠
e.l.f. collabs with Bubble 🔥
Grillo’s opens new facility 🥒
Kodiak continues to grow 📈
Deals 💰
Mergers & Acquisitions
L Catterton agreed to sell Thorne to P&G for $3.8B. L Catterton acquired the vertically integrated supplement brand for $680M in 2023. Today, Thorne is growing fast and the company will generate $650M in annual revenue, up from $500M in 2025. An interesting wrinkle is how big Thorne’s creatine business is (reportedly 25-30% of total revenue). P&G has been expanding its health & wellness portfolio lately. In January, the CPG giant acquired Wonderbelly for an undisclosed sum. CNBC
Wisconsin-based cheese giant Sargento Foods has acquired La Terra Fina, a California-based producer of premium dips, spreads, and quiches. La Terra Fina operates a 100,000-square-foot facility near San Francisco with 250 employees. Sargento is a family-owned company with $1.7B in annual net sales. Food Dive
Axum Capital Partners acquired a controlling interest in celebrity-backed hydration brand Barcode for an undisclosed sum. Axum is joining forces with existing investor Victor Wembanyama, arguably the world’s most recognizable basketball player, to spearhead Barcode’s next phase of growth. The RTD Sports Drink category is notoriously difficult to crack — Barcode has been in the marketplace since 2021 and PLEZi has relaunched several times — so we’ll see if Axum has better luck. In May, Axum acquired a stake in VitaHustle, the nutrition brand created by Kevin Hart. Business Wire
Fundraising
Neutonic officially closed its seed round with a 7-figure investment from Redrice Ventures. Second Sight Ventures also participated in this round alongside several angel investors, including Jason Rickaby, Spencer Jones, Scott Newall, Roger Gracie, and others. LinkedIn
TOSS, a UK-based purveyor of better-for-you salad dressings, secured just over £660K in funding from SFC Capital, FIGR, and GOTA, an angel syndicate focused on the future of food. A number of strategic angel investors also participated in the round. Grace & Sophie Devlin launched TOSS around 7 months ago. LinkedIn
Australian functional beverage brand NOON secured $2.5M in seed funding from BFG Partners, RiverPark Ventures, and Habitat Partners. The company will use the funding to support its launch into 2,000 Target stores across the United States. Founded in 2025 by Cade Fleming and Tamir Triguboff, NOON is positioned as “breakfast in a can” with 20g of protein, 5g of fiber, and 0g of added sugar. Instagram
Drive Shoppers From Screen To Shelf With Minisocial 🛒
Securing retail distribution is a huge win, but driving velocity is the real challenge. minisocial helps you bridge the gap between digital awareness and in-store sales. It’s already trusted by retail favorites like Bero, MadeGood, Halfday Iced Tea, Lundberg, and many more.
Here’s how it works:
📍 Hyper-Local Influence: We match you with creators local to your specific retailers (Target, Whole Foods, Sprouts, Pop Up Grocer, etc.) to produce content and share it with their own local audience.
🚀 Power Your Paid Media: Leverage whitelisting access to run creator content as ads. Target specific zip codes around your retailers to drive even more foot traffic. Plus you're safe to use the content across ALL of your owned channels, forever!
💯 High-Quality Creators = High-Quality Results: minisocial is not an open database for just anyone. Each creator is hand-picked for each project from our pre-vetted database. We only work with creators who have a track record of producing high-quality content and the engagement to prove it.
The best part? minisocial is a project-based service. Just pay per project you choose to spin up, no longterm commitments. Although once you do a minisocial campaign it's hard to go without!
Book a call with Kirsten or see more here. Mention CPG Wire and save 15% on your first campaign.
What’s New 🤩
Apparel, Cosmetics, and Wellness
e.l.f. Beauty (NYSE: ELF) and Bubble collaborated on a limited-edition collection of hybrid skincare-makeup products. The collection includes three product lines available in several shades: Drop N’ Dunk, Glow Talk, and Camo Slide. Prices range from $10 to $18 and the range will be available online on August 7th. The co-branded packaging is excellent. Business Wire
Women’s nutrition brand Needed launched a new creatine line. Each serving delivers 5g of biomicronized creatine monohydrate to support lean muscle mass, healthy body composition, and mental + physical energy. Business Wire
It looks like Grüns is gearing up to expand its Grüns Kids portfolio with a licensed Minions SKU. The company has been clever about using popular IP to appeal to children, including launching OLIPOP and Popsicle flavors. Instagram
Supergoop and Tower 28 marketing alum Alex Kalatzis just joined SuperOrdinary as VP of Marketing. Co-founded by Julian Reis and Derek Trau, SuperOrdinary is a leading global growth partner for beauty brands. Kalatzis will help the company launch a new beauty venture. LinkedIn
Food, Beverage, and Alcohol
Chef and TV personality Esther Choi just launched Sessy, a Korean-American pantry staples brand. Sessy debuted with three essential Korean-made pantry staples: Sesame Oil, Soy Sauce, and Gochujang. The products are made in partnership with Sempio, one of Korea's oldest and most trusted food companies. In addition to co-hosting Food Network’s 24 in 24: Last Chef Standing, Choi is the chef and owner of mŏkbar and a chef and partner at Ms. Yoo in New York City. Sessy
Grillo’s Pickles kicked off production at its new $54M manufacturing facility in Taylorsville, Indiana. The 155,000-square-foot facility is expected to create 150 jobs in central Indiana. Grillo’s Pickles launched in 2008 and it’s currently the #5 pickle brand in the U.S. The owner of King’s Hawaiian, Irresistible Foods Group, acquired Grillo’s Pickles in 2021. Food Business News
GOODLES expanded its product offering with a new Twirly Mac line. The new line features a novel noodle shape that holds sauce unlike other shapes and delivers on flavor. Twirly Mac is available in three flavors: Cheddar Weather, Alfredo Heights, and Hotshot Jackpot. Instagram
Premier Protein just dropped a Sparkling Protein Soda line with four flavors. Each sleek can contains 15g of protein, 3g of sugar, and 90 calories. Premier Protein is owned by BellRing Brands whose share price is down 52% YTD. PR Newswire
Ancient Crunch expanded its leadership team with two key hires. First, the company hired former QUINN Snacks CEO Al Matulis as Head of Retail. Second, they brought on former LALO Tequila SVP Greg Reintjes Jr. as Chief Marketing Officer. PR Newswire
TRUFF just released a great-looking new SKU: Smoky Pineapple Hot Sauce. The new flavor is available nationwide at Whole Foods Market. Instagram
Fix & Fogg just launched a beautiful Banana Caramel Peanut Butter SKU. The new flavor is available online in the U.S. and at all major supermarkets across New Zealand. They nailed the label. Instagram
Data 🖥️
Kodiak has doubled revenue since L Catterton acquired a majority stake in the company in May 2021. The better-for-you breakfast specialist has expanded into several new categories and is forecasting $580M in retail sales. Nosh
Italian coffee maker illycaffè Group had a strong first half of the year as H1 revenues rose 19% to €373M. EBITDA also jumped 10% year-over-year to €53M despite elevated green coffee prices. In July, illycaffè signed an agreement with Westrock Coffee Company to develop and manufacture select products for the U.S. market. PR Newswire