Palm Tree Crew Backs SipMARGS 🍹

Author

CPG WIRE
March 13, 2025

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

  • Grove Collaborative buys 8Greens 🥦

  • Next Century Spirits bets on rum 🍸

  • Beauty influencer launches Point of View 💄

  • Monster co-CEO announces retirement ⚡️

  • Ultra Violette launches at Sephora 🌞

Palm Tree Crew Backs SipMARGS 🍹

Ready-to-drink cocktail brand SipMARGS is relaunching with $3M in funding from Palm Tree Crew, Alix Earle, and an impressive list of strategic investors like Michael Rubin, Anti Fund, Brad Garlinghouse, and Steve Aoki.

SipMARGS originally debuted in 2021 with a range of canned margaritas in five flavors. The company is now returning to market with a new leadership team, reformulated products, upgraded packaging, and a new distribution agreement with Southern Glazer’s.

Partnering with Alix Earle and Palm Tree Crew — two powerhouses in media, events, and hospitality — gives SipMARGS a considerable marketing edge in a very competitive category. The arrangement reminds me of Gallo’s partnership with Barstool Sports which led to High Noon becoming one of the top-selling RTD brands. For context, High Noon sold a whopping 550 million cans in 2023, and Barstool was a key player in making that happen.

By partnering with the likes of Alix Earle, Kygo, and Steve Aoki, SipMARGS is essentially getting access to tens of millions of media impressions as well as access to some of the hottest venues and events in the U.S. In short, they’re cutting the line. If this strategy works half as well as it did for High Noon, SipMARGS is poised to become a formidable player in RTD cocktails. 

Fortunately for SipMARGS and their new investors, there’s a lot of momentum behind the RTD category. Some of the fastest-growing alcohol brands — Surfside, The Finnish Long Drink, Cutwater Spirits, and BeatBox Beverages — are dedicated RTD brands.

Starting on March 17th, SipMARGS will be available for purchase via their website and on Gopuff in New York and Florida. Their retail rollout will be focused on Florida, New York, Connecticut, Virginia, and Massachusetts. 

More on the deal here.

Deals 💰

Mergers & Acquisitions 

  • Grove Collaborative (NYSE: GROV), an eco-friendly consumer products company, acquired 8Greens for an undisclosed sum. 8Greens was co-founded by husband-and-wife duo Dawn & Jamie Russell in 2015. The company was an early mover in the daily greens supplements space. The acquisition will enable Grove Collaborative to expand further into the fast-growing wellness category. Business Wire

  • Unilever plans on accelerating its turnaround by selling a number of tertiary food brands. The consumer goods giant already sold a pasta sauce brand in January and will unload a lot more in the near future. WSJ

  • Next Century Spirits (NCS) purchased Blue Chair Bay Rum, the premium rum brand that Kenny Chesney launched in 2013. Chesney will remain involved with the brand as he’s now one of the largest shareholders in Next Century Spirits. PR Newswire

  • KNS International acquired Birdies, a DTC women’s footwear brand. Terms of the deal were not disclosed. KNS International is backed by Centre Partners and owns a number of apparel and footwear brands. Retail Dive

Fundraising

  • Dirtbag, a purveyor of organic whole food energy bars, secured $250K in funding from undisclosed investors on February 25th. SEC

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What’s New 🤩

Apparel, Cosmetics, and Wellness

  • TikTok beauty influencer Mikayla Nogueira is launching a makeup prep brand called Point of View on March 26th. The brand is launching direct-to-consumer with five SKUs. Imaginary Ventures is an investor in the brand. New Beauty

  • LVMH scion Frédéric Arnault is exiting the company’s watch division and will become the new CEO of Loro Piana. Vogue Business

  • PWR-UP is a new wellness brand that’s combining cocoa mix with collagen, protein, and electrolytes. PWR-UP

  • A’muse officially launched with a kava-based drink mix that supports relaxation. The product also includes coconut water powder and L-theanine. A’muse

Food, Beverage, and Alcohol

  • Ann Gehan wrote a great piece on eight food & beverage brands that are primed for a takeover. The Information

  • Florence By Mills Coffee launched an RTD iced latte range exclusively at Walmart. This is the first-ever RTD product from Florence By Mills Coffee which Millie Bobby Brown founded in 2023. The range was developed with Collab Coffee. PR Newswire

  • PAIJA Tea Co. is a new producer of non-dairy milk teas. The brand is available at independent retailers throughout New York. Heard good things about the product. BevNET

  • Rodney Sacks, the Co-CEO and Chairman of Monster Beverage, is stepping down as part of a planned retirement. Hilton Schlosberg will be the sole CEO of Monster Beverage moving forward. Food Dive

  • Willie’s Remedy, the hemp-based wellness brand founded by the legendary Willie Nelson, is expanding into the THC-infused spirits category on March 17th. Good-looking bottle. Willie’s Remedy

  • Throne Sport Coffee signed Peloton instructor and fitness influencer Alex Toussaint as a brand partner. Throne Sport Coffee has been on a heater with their fitness partnerships lately. The brand launched at 100+ Life Time locations two weeks ago. PR Newswire

  • Jordan’s Skinny Mixes launched their first-ever RTD range. The Skinnyccino is an on-the-go coffee product that comes in two flavors: Vanilla and Caramel. Each 12 oz bottle contains 100mg of caffeine, 110 calories, 8g of protein, and no added sugar. Business Wire

  • Poppi released a collaboration with A Minecraft Movie. The pixelated branding is a nice touch. PR Newswire

Data 🖥️

  • Allbirds (NASDAQ: BIRD) reported dismal Q4 results. Net revenue dipped 22% year-over-year to $55.9M while gross margin collapsed by 671 basis points to 31.3%. GlobeNewswire

Distribution News 🚚