Prelude Growth Raises $600M, AG1 Expands LineupđŸ«

Author

CPG WIRE
August 07, 2025

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

  • Ellers Farm buys gin brand 🍾

  • LEXINGTON BAKES secures $1M đŸȘ

  • Dyson expands haircare range đŸ§Ș

  • Pro skater launches non-alc beer đŸ»

  • Phorm Energy heads to 7-Eleven âšĄïž

No newsletter on Saturday but we’ll be back in your inbox on Tuesday.

Deals 💰

Mergers & Acquisitions 

  • Ellers Farm Distillery, the sustainable spirits producer that Ricky Gervais backed in late 2023, has acquired Six O’Clock Gin for an undisclosed sum. Founded in 2010 and based in Bristol, Six O’Clock gin produces a variety of artisanal gins and RTD cocktails. Ellers Farm Distillery’s portfolio now includes Dutch Barn Vodka, Y-Gin, and Six O’Clock Gin. The company will also unveil a single malt whisky in the near future too. The Spirits Business

  • Constellation Brands (NYSE: STZ) has divested Copper & Kings, a Louisville-based producer of American brandy. The buyer is family-owned spirits firm Bourdon Spirits Company. Constellation has shed a number of assets recently. In addition to selling SVEDKA for $409M at the end of 2024, Constellation also sold a slew of popular wine labels like Meiomi earlier this year. PR Newswire

  • Generous Brands completed its $500M acquisition of Health-Ade, a leading brand in the refrigerated kombucha category. Business Wire

  • Diageo divested its 25% stake in Spanish vermouth producer El Bandarra. Diageo originally acquired the stake via Distill Ventures, its accelerator arm. El Bandarra’s branding is very good. Just Drinks

  • Dole (NYSE: DOLE) is selling its fresh vegetables division for a total consideration of $140M. The buyer is a portfolio company of Arable Capital Partners. Dole’s fresh vegetables division is home to its salad and salad kit business. Business Wire

Fundraising

  • Prelude Growth Partners, a leading consumer growth equity firm, secured $600M for Fund III. Since its inception in 2017, Prelude has backed leading consumer brands like Bachan’s, Banza, Sol de Janeiro, PHLUR, Summer Fridays, Westman Atelier, and a number of others. Prelude will cut checks ranging from $15M to $75M from Fund III. The firm now has $1.3B assets under management. PR Newswire

  • Luxury baked goods brand LEXINGTON BAKES closed a $1M seed funding round. The round was led by Rainfall Ventures and included a number of strategic angel investors. The company will use the funding to scale their retail presence and transition to a co-packer. Los Angeles Times

What’s New đŸ€©

Apparel, Cosmetics, and Wellness

  • Indie beauty brand Youthforia is shutting down after four years in business. Youthforia, which was backed by True Beauty Ventures, Willow Growth Partners, and Mark Cuban, had a lot of momentum early on before getting embroiled in a scandal related to its foundation line. Cosmetics Business

  • Melanie Bender, the former CEO of Rhode and an Operating Partner at Uni, is launching a new fragrance brand called LORE. Details are scarce but we know the brand will debut at Sephora. Mazdack Rassi, one of the co-founders of Milk Makeup, and the founders of Youth to the People are also invovled with the brand. Instagram

  • After 15 years of offering only one flavor, AG1 just introduced three new ones: Citrus, Berry, and Tropical. Kat Cole took over as AG1’s CEO just over a year ago and she’s responsible for turning the company into an omnichannel, multi-SKU machine. Twitter

  • Dyson continues to push further into consumables with two new haircare products: Omega Hydrating Hair Oil and Omega Leave-In Conditioning Spray. The sunflower oil used in the products was harvested at Dyson’s own farms in Lincolnshire. Dyson first expanded into the haircare category last summer. WWD

  • Swishables is a new oral care brand that’s putting mouthwash in on-the-go stick packs. The brand was co-founded by Gulshan Kumar, an alum of PATH Water, and Harry Meng. The branding is excellent and it’s a clever concept. Swishables

Food, Beverage, and Alcohol

  • In what appears to be an industry first, THC-infused soda brand Drippy is now available on select Virgin routes throughout the U.S. 2025 will be known as the year that creatine and THC beverages went mainstream. Twitter

  • Vital Proteins launched its first-ever RTD shake. Each shake contains 30g of protein and 10g of collagen peptides. The product is also free from added sugar and artificial flavors, colors, and sweeteners. The new line is available at Walmart and will make its Costco debut in the near future. PR Newswire

  • Sparkling water brand Not Beer officially launched its THC seltzer line. Three flavors are available: Golden Pineapple, Ruby Grapefruit, and Rosy Raspberry. I ordered a variety pack and will report back. Not Beer Vibed

  • Professional skateboarder Erik Ellington launched a non-alcoholic beer brand called Easy Does It. The non-alc brew was developed with Gabe Fletcher, a childhood friend of Ellington’s and the brewmaster at Anchorage Brewing Company. Easy Does It is available via the brand’s website and will launch at Albertsons and BevMo in the fall. PR Newswire

  • Cravings by Chrissy Teigen expanded beyond baking mixes with a new pasta sauce line. Four pasta sauce SKUs are now available at Sprouts for $9.99 per jar. Food Business News

  • JournĂ©e is a new functional beverage brand focused on energy and cognition. Their products are formulated with Lion’s Mane, natural caffeine, L-theanine, and Acerola cherry. Three flavors are available: Soleil Citrus, Blueberry Hibiscus, and Raspberry Dragon Fruit. JournĂ©e

  • Electrolit is now the Official Hydration Partner of Aryna Sabalenka, the #1 women’s tennis player in the world. Sabalenka will appear in a national campaign for Electrolit and the brand will be integrated into tournament appearances and social media. Trend Hunter

  • Yellowstone Bourbon launched a range of premium ready-to-serve cocktails. Three cocktails are currently available: Old Fashioned, Gold Rush, and Espresso. PR Newswire

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Data đŸ–„ïž

  • Amouage, the luxury Omani fragrance brand that L’Oreal backed earlier this year, grew sales by 60% in the first half of 2025. Amouage shared that sales hit $200M in the period. Business of Fashion

  • BellRing Brands continues to perform thanks to its flagship brand, Premier Protein. In Q3, BellRing’s net sales increased 6.2% to $547.5M. Sales of Premier Protein rose 6% and RTD shake sales were up 5.9%. Twitter

Distribution News 🚚