Purely Elizabeth Explores Sale, Neutonic Raises $6M 🧠

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CPG WIRE
April 28, 2026

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

  • L Catterton & Patricof partner 🤝

  • Wet Hydration raises $10M 💧

  • Perelel expands offering 💪

  • Tranquila bets on decaf RTDs ☕️

  • Roxberry lands at H-E-B 🫧

Deals 💰

Mergers & Acquisitions 

  • Purely Elizabeth, a Boulder-based purveyor of better-for-you granola, oatmeal, and cereal, recently hired Houlihan Lokey to explore a sale. Founded in 2009 by Elizabeth Stein, Purely Elizabeth could be valued around $600M and annual sales are reportedly north of $200M. Investors include SEMCAP, Swander Pace Capital, Fresh Del Monte, and others. Axios

Fundraising

  • Productivity-focused beverage & supplements brand Neutonic closed a $6M funding round at a $60M valuation. Investors include Alan Barratt, Ollie Marchon, Nomit Shah, Codie Sanchez, Zach Ranen, and several others. Since launching in 2023, Neutonic has sold more than 7.5 million cans and is on track to exceed $25M in revenue this year. Instagram 

  • L Catterton and Patricof Co announced the formation of CHAMP, a strategic partnership that aims to connect top athletes with consumer investment opportunities. The idea is to have athletes like Kevin Durant, Cooper Flagg, Livvy Dunne, Cade Cunningham, and several others invest in emerging and scaled brands alongside L Catterton. PR Newswire

  • Smearcase, a purveyor of high-protein, low-fat cottage cheese ice cream, closed its first institutional funding round led by Listen Ventures. Founded in 2023 by Joe Rotondo and Drew DiSpirito, Smearcase will be in over 1,000 doors by the end of Q2. Instagram

  • According to an SEC filing, creator-led candy brand Zesty Snackz secured just over $1.1M in equity funding. The company was co-founded by Paul Cuffaro and Brenten Szekely, an internet personality and the creator of the YouTube channel Finatic. SEC

  • Functional beverage brand Wet Hydration raised $10M in fresh funding and added NBA player Paul George to its cap table. The Las Vegas-based beverage brand was founded by Spencer Altschul in 2020. Wet Hydration retails at Walgreens, The Vitamin Shoppe, and Amazon. BevNET

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What’s New 🤩

Apparel, Cosmetics, and Wellness

  • Next-gen beauty incubator Maesa expanded into the functional fragrance category with String Theory. String Theory is powered by Phero-Mimetic Technology which “enhances desire” and “ignites real attraction.” String Theory launched with two SKUs: Feral Haze for Him and Feral Haze for Her. Maesa is the incubator behind creator-led brands like Kristin Ess Hair, Being Frenshe, and Hairitage by Mindy McKnight. PR Newswire

  • Research-backed women’s wellness brand Perelel released Daily Resilience Complex, a drink mix that supports immunity, joint health, iron utilization, and gut health. The new product is formulated with lactoferrin and collagen peptides. PR Newswire

  • Two former execs at Kenvue and Church & Dwight teamed up to launch a bodycare brand called Dewsy. Dewsy differentiates by using face-grade active ingredients and deeply hydrating Mini-Molecule Technology. Prior to starting Dewsy, Kathy Widmer served as CMO at Elizabeth Arden and Group President at Kenvue, while Barry Bruno was President & CMO of Church & Dwight. Beauty Independent

  • Nick Jonas is seemingly launching a skincare brand. The Jonas Brothers previously co-founded Rob’s Backstage Popcorn and have backed brands like TRIP, OLIPOP, Sesh, and others. Instagram

  • After securing nationwide distribution at Walmart, Clean Simple Eats just dropped a Creatine + Glutamine line. Three varieties are available: Frosted Lemonade, Pink Burst, and Unflavored. CSE

Food, Beverage, and Alcohol

  • Tuff Pops is a new high-protein ice cream bar brand from Utah. Each bar contains 12g of protein and is made with real ingredients like milk, cream, egg yolks, and sugar. You can find Tuff Pops at Pop Up Grocer and independent retailers throughout Utah. Apparently the product is excellent. Tuff Pops

  • Rare Breed Coffee launched a functional coffee product called Brain Waves. The ground coffee is formulated with L-Theanine, Cordyceps, Citicoline, and L-Tyrosine. Rare Breed

  • UK-based matcha brand PerfectTed collaborated with Free Soul on two functional matcha products: Matcha Protein Powder and Matcha Collagen Powder. Instagram

  • GRADA, an Australian purveyor of specialty coffee liqueur, launched product #2 with Midnight Decaf. GRADA collaborated with Melbourne-based Decaf Co to create the product. Instagram

  • Speaking of decaf…Tranquila is a brand new canned decaf coffee brand. The company launched with two RTD options: Classic Latte and Oat Milk Latte. The branding is solid and the labels will definitely pop in retail. Tranquila is currently available at Pop Up Grocer and The Shelf. Instagram

  • Bragg just put its apple cider vinegar in on-the-go pouches. Bragg On-The-Go ACV Pouches are designed for people who want to stay consistent with their wellness routines, even while traveling. PR Newswire

  • Fast-growing candy brand Joyride expanded its portfolio with three new additions: Fruit Chews, Fruity Zips, and Sour Zips. The new SKUs are available exclusively at Target for $4.99. PR Newswire

  • Nowadays is getting ahead of stricter THC beverage regulations with its new Extra-Light range. Each can delivers of 0.4mg of THC and 5mg of CBD. Four flavors will begin rolling out this year. LinkedIn

Data 🖥️

  • Keurig Dr Pepper’s U.S. Beverage division continues to roll as Q1 net sales jumped 11.9% to $2.6B. The growth was primarily driven by volume instead of price increases. International net sales surged 19.5% to $520M while U.S. Coffee net sales dipped 2.3%. KDP

  • According to the company, Recess is now the #1 velocity brand in sparkling flavored water singles. LinkedIn

Distribution News 🚚