PepsiCo Completes Poppi Deal 🫧

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CPG WIRE
May 20, 2025

Welcome back to This Week in CPG, folks. Here’s what we’re covering this morning:

  • Colorbar eyes IPO 💄

  • Ellie Goulding launches Everystate 🍄

  • July opens another store 🧳

  • EatKinda prioritizes U.S. market 🍦

  • Vacation lands at CVS ⛱️

Yesterday was a mind-numbingly slow news day but we managed to pull together a solid albeit brief newsletter for you.

Deals 💰

Mergers & Acquisitions 

  • PepsiCo completed its $1.95B acquisition of Poppi. The deal also includes a performance-based earnout for Poppi. PepsiCo has spent a fortune acquiring Poppi, Siete Foods, and Sabra Hummus as better-for-you continues to be a strategic focus for the soda and snack giant. PepsiCo

Fundraising

  • Indian beauty brand Colorbar is eyeing an IPO in 2027. The company, which was founded in 2004, expects revenue to double to over $117M this fiscal year. Colorbar operates more than 100 retail stores across India. Business of Fashion

What’s New 🤩

Apparel, Cosmetics, and Wellness

  • Popstar Ellie Goulding launched an apaptogenic wellness brand called Everystate. The brand currently offers three products: Arabica Coffee + Mushroom Super Blend, Matcha + Mushroom Super Blend, and Cacao + Mushroom Super Blend. Gemma Feare, a veteran of the consumer goods industry, co-founded the brand with Goulding. Everystate

  • Aussie DTC luggage brand July opened a beautiful store at Westfield Doncaster Shopping Centre in Melbourne. Really impressive work from Trust Projects and In Addition. LinkedIn

  • Orebella, the fragrance brand that Bella Hadid launched last summer, made its UK debut at Selfridges. Selfridges is hosting an immersive Orebella pop-up until May 28th to celebrate the exclusive launch. Vogue Business

  • Amplifye P24 is a new supplement brand that claims it can increase protein absorption by more than 2x. Their value proposition reminds me of The Absorption Company which launched in early 2024. If Amplifye P24 can deliver on its promise and nail pricing, I could see them doing well with both gym rats and everyday consumers. Instagram

  • Korrect, the new supplement brand from Onnit founder Aubrey Marcus, launched its second product which combines ketones and electrolytes for sustained energy. A 15-count retails for just over $64. Korrect

Food, Beverage, and Alcohol

  • Fast-growing energy drink brand RYSE is preparing to launch a line of 12 oz. energy drinks. We don’t have many details but six flavors will be available at launch and half of those will be licensed flavors (e.g. Kool-Aid, SunnyD, and Country Time). Stack3d

  • We’ve seen a good amount of alternative ice creams lately but cauliflower-based ice cream is a first, at least for me. EatKinda is a Kiwi producer of cauliflower ice cream that launched in 2023. The company is now pulling out of its home market in order to focus on the United States. Inside FMCG

  • OLIPOP released a sleek 15-count variety pack that’s available nationwide at Costco. Instagram 

  • Jot, the brand best known for its coffee concentrates, recently launched an Instant Cold Brew Coffee. The product retails for $40 and is good for 60 cups of coffee. Instagram

  • THC spirits brand Nowadays released a limited edition Cherry flavor. It’s a great-looking bottle and label. Instagram

  • Lake Hour, the canned cocktail brand from Wyatt Russell and Richard Peete, just launched a new Vodka Iced Tea range with four flavors: Raspberry Tea, Green Tea, Earl Grey Tea, and Blackberry Tea. RTD Magazine

  • Force of Nature is doubling down on poultry by launching an organic-fed whole chicken. The company, which focuses on regenerative, grass-fed meats, originally expanded into poultry in March with an organic ground chicken product. Force of Nature is a company I’m wildly bullish on. They could be the next Vital Farms which is currently valued at $1.6B. Instagram

A Message From Matriarch 📈

Matriarch Wealth Management is an SEC-registered investment advisor and fiduciary headquartered in Miami, Florida.

We specialize in working with founders and executives in the CPG industry, providing comprehensive wealth management strategies following a liquidity event. Our engagements often begin in the early stages of a brand’s growth, offering pre-transaction planning to help reduce the tax impact upon exit, as well as highly competitive cash management and lending services.

Whether it is developing an investment plan to fund a way of life, preparing before receiving a meaningful gain, or building a legacy that supports future generations, Matriarch works side by side with clients to help them secure their vision of success.

We are proud to have Mike Repole — the co-founder of vitaminwater and BODYARMOR — as both a client and an advisor. His involvement has enabled us to build a uniquely CPG-focused wealth management practice rooted in deep industry experience.

You can learn more about Matriarch here or schedule a call with us here.

Data 🖥️

  • According to Circana, prestige beauty sales in the U.S. remained flat in Q1 while mass beauty sales jumped 3%. This shouldn’t come as a surprise given the tariff-induced economic turmoil, but prestige beauty sales had been crushing mass beauty sales for years. Happi

Distribution News 🚚

  • Vacation launched at select CVS Pharmacy locations.

  • CauliPuffs is now available on American Airlines flights.

  • Wittles officially launched on Amazon.

  • Ripi Foods launched at Market District.

  • Desert Dust is now available at Bristol Farms.