Patrón Founder Buys Gin Brand, FX Matt Acquires Ohza 🥂

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

• Diageo bets on non-alc spirits 🍸

• Oak Essentials secures funding 💧

• DECIEM launches body care brand 🧴

• Brooklyn Beckham unveils Cloud23 🌶️

• Fly By Jing debuts noodles 🍜

Deals 💰

Mergers & Acquisitions 

• John Paul DeJoria, the self-made billionaire and founder of Patrón Tequila, has acquired Waterloo Gin, a Texas-based producer of craft gin. Waterloo Gin was developed by Treaty Oak Distilling and launched in 2009. Justin Meigs, a former exec at Empress 1908 Gin, was named the CEO of Waterloo. The gin category has been on a heater lately. Earlier this year, Gallo invested in Condesa Gin, a craft gin brand from Mexico City. Food Dive

• FX Matt acquired Ohza, a premium RTD mimosa and sangria brand. Founded in 2019, Ohza retails at BevMo, Walmart, Whole Foods, Safeway, Circle K, and many other stores. FX Matt is based in Utica, NY and is best known as the owner of Saranac Brewery. Earlier this year, FX Matt purchased RTD cocktail brand ‘Merican Mule. BevNET

• Diageo is acquiring Ritual Zero Proof, a Chicago-based producer of non-alcoholic spirits. According to IWSR, Ritual Zero Proof is the #1 non-alcoholic spirit brand in the U.S. The company offers non-alcoholic whiskey, tequila, gin, rum, and aperitif alternatives. Diageo

Fundraising

• Oak Essentials, a premium skincare brand founded by renowned fashion designer Jenni Kayne, secured an undisclosed amount of Series A funding from Silas Capital and Unilever Ventures. Founded in 2021, the California-based beauty brand will use the funding to grow its team and expand its retail presence. PR Newswire

• SEEN, a dermatologist-developed haircare brand, raised $9M in Series A funding from individual investors like Mitch Rales, Feroz Dewan, and George Mrkonic. The company was founded by Dr. Iris Rubin, a Harvard trained dermatologist, in 2018. PR Newswire

• Helaina, a food tech startup that uses precision fermentation to produce human lactoferrin — a bioactive protein found in human breastmilk — secured $45M in Series B funding. The round was led by Avidity Partners. Additional investors include Spark Capital, Ingeborg Investments, Barrel Ventures, and others. AgFunder

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What’s New 🤩

Apparel, Cosmetics, and Wellness

• DECIEM, the owner of skincare brands The Ordinary and NIOD, just launched a body care brand called Loopha (pronounced loofah). Loopha originally debuted in 2017, however DECIEM killed the brand in order to focus on The Ordinary which was growing at a rapid clip. The Industry

• Clean skincare brand Alpyn Beauty unveiled a brand refresh ahead of its retail expansion at Sephora. Adding color sure goes a long way. WWD

• Babyletto, a Los Angeles-based purveyor of modern nursery essentials, opened its first-ever flagship store. The store is located on Melrose Avenue in West Hollywood. It’s a good-looking store. Instagram

• Japanese apparel brand BEAMS collaborated with Birkenstock on a suede loafer. Badass. Highsnobiety

• Intimate care brand Plum officially launched with one SKU — Plum Moisturizing Serum. PR Newswire

Food, Beverage, and Alcohol

• Brooklyn Beckham launched a premium hot sauce brand called Cloud23. Cloud23 debuted with two flavors — Hot Habanero and Sweet Jalapeno — which are available exclusively at Whole Foods Market. Like his parents, Brooklyn Beckham is building a formidable CPG portfolio. He’s been an investor in RTD sake brand WESAKE since late 2022. Delish

• Asian pantry staples brand Fly By Jing is expanding into the noodle category with two SKUs: Chili Crisp Noodles and Sweet & Spicy Noodles. The packaging is terrific. Fly By Jing is in a race with Momofuku to become the Rao’s Homemade of Asian pantry staples. NOSH

• Tilray Brands, which is best known for its cannabis and craft beer brands, is bullish on Delta-9 THC beverages and will launch several brands across the U.S. next month. In terms of Delta-9 beverages, Tilray is focused on mocktails, seltzers, and other sparkling drinks. GlobeNewswire

• Belgian Boys launched two grab-and-go product lines — Pancakes & Go and Breakfast All Day — exclusively at Walmart. Like all of their other products, the packaging looks great. PR Newswire

• Diageo continues to test more sustainable packaging options and just released Johnnie Walker in a paper-based bottle. Diageo will test the 700ml paper bottle exclusively in the on-trade channel. The Spirits Business

• Bullish, the New York-based investment firm and brand consultancy, just unveiled a brand refresh for RADD Foods, a purveyor of dairy-free cheeses. Love the 90s floppy disk vibes. PR Web

• Yet another better-for-you soda brand has entered the chat…Miami-based beverage firm Beliv launched Mighty, a gut-healthy soda brand that features pre, pro, and postbiotics. Mighty is currently only available via their website. Last year, Beliv acquired a majority stake in High Brew Coffee. PR Newswire

• Captain Morgan (owned by Diageo) joined forces with Pepsi to launch a co-branded RTD cocktail across the UK. This announcement comes on the heels of Coca-Cola and Bacardi announcing their co-branded RTD cocktail last week. The Spirits Business

• Founders Brewing Co. enlisted Trinity Brand Group to refresh their All Day IPA range. Looks solid but I’m curious what y’all think. PR Newswire

• SideDish, the salad dressing brand founded by influencer and recipe developer Alex Snodgrass, released their newest dressing — Classic Ranch. Instagram

Data 🖥️

• Celsius volume growth is back up to 32% after they cut prices by 20%. Throughout the summer, Celsius was still growing but their volume only increased 15-17% month-over-month. Alani Nu continues to grow at an insane pace with volume up 80.8%. Twitter

Distribution News 🚚

• Skincare brand ELEMIS is launching at Sephora in Canada.

• Italian confectionery brand Loacker launched at Wawa.

• Spring & Mulberry, a date-sweetened chocolate brand, launched at Whole Foods Market.