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Perricone Farms Buys Natalie's Orchid Island Juice Company 🍊

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CPG WIRE
September 07, 2024

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

  • Bansk Group buys orthotics specialist 🦶

  • Slate Milk secures funding 🥛

  • Cult Gaia launches fragrances 😍

  • Chris Gallant heads to ZICO 🥥

  • Wildwonder x Costco 🫧

Deals 💰

Mergers & Acquisitions 

  • Perricone Farms, a California-based manufacturer of premium craft juices, has acquired Natalie’s Orchid Island Juice Company, a Florida-based producer of juice products. The combined company will boast bi-coastal production facilities, improved delivery capabilities, and expanded product offerings. Marygrace Sexton launched Natalie’s Orchid Island Juice Company in 1989. PR Newswire

  • Consumer-focused private equity firm Bansk Group has acquired Foundation Wellness, a leading purveyor of branded orthotics. The seller is Gridiron Capital. Foundation Wellness owns a number of top selling orthotics brands like PowerStep and CURREX. Last month, Bansk Group shelled out $1.5B to acquire PetIQ. CityBiz

  • BRANDED, a leading acquirer of e-commerce businesses, has purchased Heyday, a fellow acquirer of e-commerce brands. The combined company will now operate as Essor and boasts $400M in annual revenue. Business Wire

Fundraising

  • Slate Milk, a producer of high protein lattes and chocolate milks, secured $9.5M in equity funding from undisclosed investors. Slate’s products contain 20g of protein, 0g of added sugar, and are lactose free. The brand retails at Albertsons, Kroger, Sprouts, and Target. SEC

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What’s New 🤩

Apparel, Cosmetics, and Wellness

  • Kleos+Klea, a new skincare system that’s focused on delivering essential nutrients instead of synthetic ingredients, officially debuted. The brand was founded by Tammy Demos who’s been in the skincare industry since the late 90s. Forbes

  • Luxury fashion label Gult Gaia expanded into beauty by launching three new fragrances. The fragrances are packaged in a gorgeous circular vessel and retail for $228. Big fan. Hypebae

  • Popular skincare brand Bubble is expanding into lip care with the launch of Tell All Juicy Secret Berry Lip Balm. The product is packaged in a cute key chain carrier, and customers can also purchase collectible charms to accessorize the lip balm. Love it. Instagram

Food, Beverage, and Alcohol

  • Robbie Miller and Daniel Kaplan, the co-founders of Zitsticka which was acquired in 2022, are entering the food & beverage world with Dally, a plant-based konjac jelly snack. Squeeze pouches are really hot right now. NOSH

  • Chris Gallant, the former CEO of Chamberlain Coffee, is taking over as CEO of coconut water brand ZICO. Gallant spearheaded Chamberlain’s transformation from DTC brand to omnichannel brand, so it’ll be interesting to see what he does with ZICO. BevNET

  • Keurig Dr Pepper signed a long-term sales and distribution agreement with Black Rifle Coffee for their new line of energy drinks. KDP’s energy portfolio is pretty limited — they own 30% of Nutrabolt and distribute their flagship energy brand, C4 Energy — but that’s about it. Just Drinks

  • Chomps, the fastest-growing snack brand in the U.S. according to Numerator, is partnering with Western Smokehouse Partners to open a 300,000-square-foot manufacturing facility in Mexico, Missouri. The facility will open next year and create 250 full-time jobs. Pete Maldonado, the co-founder & co-CEO of Chomps, was on the Eating Glass podcast earlier this year. Worth a listen. PR Newswire

  • Jeni’s Splendid Ice Creams released a fantastic lineup of fall ice cream flavors. Sign me up for Miso Butterscotch Brownie. PR Newswire

  • Iconic British tea brand Twinings released a RTD range of sparkling teas. Three flavors are available. FoodBev

  • Sonoma Craft, the owner of the #1 cider brand in California, launched a RTD cocktail brand called Sun & Shine Cocktails. The packaging doesn’t do a whole lot for me but the flavors sound fantastic. PR Newswire

  • Harpoon Brewery and L.L. Bean joined forces to release a limited edition amber lager. Beautiful can. PR Newswire

Data 🖥️

  • Puig, the Spanish beauty firm that owns Byredo, Charlotte Tilbury, Dr. Barbara Sturm, and a number of other brands, had a strong first half of 2024 with sales rising 9.6% to €2.2B. Skincare was Puig’s fastest growing division for H1 ‘24 with sales rising 25.2%. The Industry

Distribution News 🚚