PepsiCo Closes Siete Deal, Back To Nature Refreshes 🍪

GM and Happy Saturday, folks. Here’s what we’re getting into this morning:

• Palladin sells KT Tape 💰

• Ethel’s Bakery grabs funding 🧁

• Phyla unveils brand refresh 🔥

• Floura relaunches 🍉

• Nightingale expands at Kroger 😋 

Deals 💰

Mergers & Acquisitions 

• PepsiCo completed its acquisition of Siete Foods for $1.2B. Siete is the latest in a line of PepsiCo acquisitions that include PopCorners, Bare, Stacy's Pita Chips, and most recently, Sabra. PR Newswire

• KT Tape has been acquired by Bridges Consumer Healthcare, a consumer healthcare platform comprised of nine brands in the OTC and personal care categories. Founded in 2008 and based in American Fork, Utah, KT Tape is a leader in the kinesiology tape category. KT Tape partnered with Boston-based Palladin Consumer Retail Partners in 2014. Utah Business

• Chicago-based Sweetmore Bakeries has acquired Azteca Bakeries, an Arizona-based producer of Mexican pastries and baked goods. Sweetmore operates five manufacturing facilities across the U.S. and is backed by Shore Capital Partners, a lower middle market private equity firm. Business Wire

Fundraising

• Ethel’s Bakery, a Michigan-based producer of gluten-free dessert bars, secured $2.5M in equity funding from undisclosed investors on January 17th. The family-owned company was founded in 2011 and retails at Meijer, Kroger, Target, Raley’s, and many other chains. SEC

What’s New 🤩

Apparel, Cosmetics, and Wellness

• The founders behind Glamnetic launched a playful press-on nails brand called Digi Beauty. The brand was co-developed with Ulta Beauty and is geared toward Gen Z and Gen Alpha consumers. Digi Beauty is currently available online and in-store at 450 Ulta Beauty shops. WWD 

• Plastic-free personal care brand Wild partnered with mental health charity Mind to launch three exclusive scents. The scents were developed to evoke feelings of positivity, tranquility, and renewal. Big fan of Wild — their body wash refills are an engineering marvel. The Industry

• Acne care brand Phyla unveiled a sleek brand refresh ahead of its launch at Sephora. More great work from the talented folks at Day Job in Los Angeles. Phyla uses phages which target acne-causing bacteria without destroying the bacteria that’s good for the skin. Bullish. Instagram

Food, Beverage, and Alcohol

• U.S. snack brand Back to Nature underwent a colorful brand refresh as it seeks to connect with younger consumers. Manchester-based design agency LOVE did a spectacular job. Here’s a before and after shot if you’re interested. Barilla Group acquired Back to Nature from B&G Foods in 2022 👇 LinkedIn

• Jeni Britton, the founder of Jeni’s Splendid Ice Creams, relaunched Floura with refreshed branding and a new product line called Fruit Crush Bars. Floura’s main focus is twofold: combating food waste and helping consumers eat more fiber. Each Fruit Crush Bar contains an impressive 13g of fiber. Apparently 95% of American consumers are fiber deficient. Fast Company 

• Whole Foods Market is accepting applications for its 2025 Local & Emerging Accelerator Program (LEAP). Selected brands will participate in an educational program and be eligible for financial support and shelf space at select WFM stores. Business Wire

• Patagonia Provisions launched a great-looking new product line called Sardines + Beans. The packaging is terrific. Instagram

• Bloom unveiled their newest energy drink flavor — Juicy Orange. I’m starting to see Bloom Sparkling Energy everywhere…hats off to the team. Instagram

• Beloved Mexican beverage brand Jarritos expanded into the boba tea category with a new line called JARRIBOBA. Three flavors are available: Strawberry Guava, Mango Passion Fruit, and Kiwi Watermelon. The branding is fun. Business Wire

• Emerging hydration brand RECOVER 180 introduced two new flavors: Strawberry Banana and Rocket Pop. PR Newswire

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Data 🖥️

• UK-based non-alc spirits brand CleanCo is growing fast in the U.S. DTC sales jumped by 64% while off-premise and on-premise sales increased by 36% and 35%, respectively. The Spirits Business 

Distribution News 🚚

• Nightingale Ice Cream expanded to over 2,400 Kroger stores.

• RYSE Energy Drink is launching at Walmart in TX, FL, and AR.

• Edenesque launched at Whole Foods Market in NY and CT.

• Spritz Society signed an exclusive distribution agreement with Gallo.

• Elavi partnered with Costco in the southeast.