PE Firm Buys Justin's, Fruitist Bags $150M 🫐

Author

CPG WIRE
October 30, 2025

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

  • IRIS Ventures backs Goddess 💈

  • Bryan Johnson pulls in $60M 🧪

  • Grüns prepares to go abroad 🗺️

  • Man Cereal officially launches 🥣

  • Vita Coco delivers in Q3 📈

Deals 💰

Mergers & Acquisitions 

  • Forward Consumer Partners is buying a 51% stake in Justin’s and making it a standalone company again. The seller is Hormel Foods (NYSE: HRL) who acquired the clean peanut butter brand in 2016 for $286M. Justin Gold, who launched the brand in Colorado in 2004, will return as a strategic advisor and board member. Hormel’s thesis is pretty simple: Forward Consumer Partners has the resources, know-how, and track record to help Justin’s reach its full potential. PR Newswire

Fundraising

  • Fruitist, a global producer and marketer of jumbo blueberries, secured $150M in equity funding at a valuation north of $1B. Investors include J.P. Morgan Asset Management, Aliment Capital, Ray Dalio, and Steve Kaplan. Formerly known as Agrovision, Fruitist has evolved from an agricultural enterprise into a global consumer brand with $400M in annual sales and over 12,000 retail doors across 40 countries. CNBC

  • IRIS Ventures just made a 7-figure investment in biotech haircare company Goddess Maintenance Co. Goddess is pioneering a new haircare category called “bioprotection” which uses a proprietary molecule to protect hair from environmental and chemical damage. Two of its co-founders, Denise Russell and Edward Connaghan, were instrumental in launching K18 and Olaplex, while the other two co-founders, Lauren Vesler and Manda Mason, own an Ohio-based beauty salon chain. PR Newswire

  • Homecourt, the luxury fragrance and homecare brand founded by Courteney Cox, raised an $8M Series A funding round led by CULT Capital. Homecourt debuted in 2022 and retails at Nordstrom, Blue Mercury, and Revolve. WWD

  • Blueprint, the longevity platform founded by wellness guru Bryan Johnson, secured $60M from high-profile backers like Kim Kardashian, Alex Hormozi, Jay Shetty, Logan Paul, and dozens of others. Blueprint also brought on former Modern Health President Gyre Renwick as CEO. Fitt Insider

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What’s New 🤩

Apparel, Cosmetics, and Wellness

  • Freaks of Nature expanded into a new category with its sleek deodorant line. Two premium scents are available — Santal Dune and Bergamot Canyon — and the refillable deodorant offers 48 hour protection without disrupting the microbiome or eliminating good bacteria. The packaging is thoughtful and excellent. Instagram

  • Jack Abraham, the CEO of Atomic and a co-founder of Hims & Hers, is attempting to make steroidal acne injections more accessible via Indomo, a new medical device startup. Indomo’s debut product, dubbed ClearPen, is a reusable device that delivers single-use corticosteroid shots. Indomo will begin its second round of clinical trials next year which will bring it slightly closer to FDA approval. Indomo’s COO, Cara Davis, spent three years at Starface as VP of Operations. WWD

  • According to a LinkedIn post from CEO Chad Janis, Grüns is gearing up to go international. The company’s Chief International Officer starts on November 17th and they’re looking to make about 40 hires to accelerate growth outside of the U.S. LinkedIn

  • Creator-led skincare brand POV Beauty is expanding into color cosmetics with a line of lip kits. The collection will debut on November 4th. Mikayla Nogueira launched POV earlier this year and the brand reportedly did $1M in sales in its first 7 minutes. WWD

  • Rare Beauty and Béis are releasing a limited-edition accessories collection on November 3rd. The collection includes a brush pouch, lip balm case, and a large cosmetics bag. Instagram

Food, Beverage, and Alcohol

  • Chomps, the fastest-growing meat snacks brand in the United States, is opening a second manufacturing facility. The 160,000-square-foot facility is expected to create 150 jobs and boost annual production capacity by 15%. The new facility will be centrally located in Beatrice, Nebraska. Chomps partnered with Western Smokehouse Partners to open a 300,000-square-foot facility in Missouri earlier this year. LinkedIn

  • Man Cereal officially launched its creatine + protein cereal line with three flavors: Salted Fudge, Maple Bacon, and Fruity. Each serving features 2.5g of creatine, 15-16g of protein, and only 5g of carbs. A 3-pack costs $58 if you opt for one time purchase. Man Cereal

  • Algae Cooking Club tapped viral creator Nara Smith for a limited release product: Nara’s Roasted Garlic Oil. It’s a clever move for Algae Cooking Club as it introduces their niche culinary range to millions of new customers. It’s also a good-looking bottle and label. Food & Wine

  • No Cap! Soda Pop is doubling down on licensing and will release a line of ICEE sodas early next year. No Cap! licensed a few flavors from Albanese Candy earlier this year and their strategy — leveraging popular IP to build its own profile — appears to be working. PR Newswire

  • Savory protein bar brand SVRY relaunched with an upgraded brand identity. Each SVRY bar is packed with 22g of protein, 12g of fiber, and 2g of sugar. Three flavors are available: Rosemary Olive Oil, Coconut Curry, and Barbecue. SVRY

Data 🖥️

  • Vita Coco (NASDAQ: COCO) knocked it out of the park in Q3 with net sales up 37% YoY to just over $182M. Gross margin held strong at 38% while adjusted EBITDA came in above analyst expectations, too. Vita Coco expects FY net sales to range from $580M to $595M. Vita Coco

Distribution News 🚚

  • Soom Foods launched storewide at Wegmans.

  • Amika is launching storewide at Ulta Beauty in December.

  • Fishwife is now available storewide at Publix.

  • TRIP rolled out at H-E-B.

  • JAMBAR launched at Jewel-Osco and Shaw’s.