Rad Soda Launches, Campbell's Weighs Divestment 💰

GM and Happy Saturday, folks. Thursday and Friday were quiet news days but we still have some exciting headlines to dive into:

• New Era buys ‘47 🧢

• Dr. Squatch goes after Manscaped 🪒

• Introducing Jake Paul’s new brand 🧴

• Laoban expands into bao buns 🥢

• Sauz launches at Gelson’s 🍝

Deals 💰

Mergers & Acquisitions 

• Campbell Soup Company is exploring strategic alternatives for Noosa, the yogurt brand it acquired during its $2.7B purchase of Sovos Brands. Even though the brand is performing well, yogurt isn’t a strategic focus for Campbell. Noosa posted sales of $176M in 2022 and continues to grow, so there will likely be plenty of interest from private equity players and strategics. Just Food

• Hong Kong-based instant noodle giant Nissin Foods has acquired Gaemi Food, a South Korean snack manufacturer, for just over $34M. Nissin plans on expanding Gaemi’s snack portfolio into China and Southeast Asia. FoodBev

• New Era Cap is acquiring ‘47 for an undisclosed sum. The combined sports merchandise giant expects to generate around $2B in annual revenue. Reuters

Fundraising

• Men’s personal care brand Oars + Alps secured nearly $2.3M in equity funding from undisclosed investors. SEC

What’s New 🤩

Apparel, Cosmetics, and Wellness

• Isle of Paradise launched two new barrier-building body care products — Body Oil Cleanser & Body Butter. Both SKUs are available exclusively at Sephora. PR Newswire

• Men’s personal care brand Dr. Squatch launched a line of “below the belt” grooming products to compete with the likes of Manscaped. Products include lotion, wet wipes, and an electronic trimmer. WWD

• I spotted Jake Paul’s new personal care brand, W, at a Walmart in Texas. The brand doesn’t officially launch until June 12th, so this is a first look at the brand. Curious what y’all think 👇 Twitter

Food, Beverage, and Alcohol

• Rad Soda, a better-for-you soda brand from L.A. Libations, officially made its debut. Four flavors are available and each can contains 20 calories, 5g of sugar, and zero added sugar. Rad Soda is betting on affordability to make a name for itself in the crowded BFY soda category. A 12-pack only costs $13.99 on their website. Their packaging is a 10/10 too. Instagram

• Laoban, a Washington, DC-based purveyor of frozen dumplings, launched a great-looking line of frozen bao buns. The new line is available at select Whole Foods Market stores 👇 PR Newswire

• Top of the Mornin’ Coffee launched two new products: Strawberry Matcha and Chocolate Matcha. The packaging is brilliant. TOTM

• Fast-growing candy brand Sour Strips unveiled their newest product yesterday — Bites. They look great. Instagram

• The Coconut Cult collaborated with reality TV star Kristin Cavallari on a limited-edition yogurt called Coffee Date with Kristin Cavallari. Instagram

• Lyrical Lemonade collaborated with Glo Gang Clothing on a limited edition can. Instagram

Data 🖥️

• Graza gross sales are expected to hit $48M this year. The brand was founded by Andrew Benin in 2020. CNBC

Distribution News 🚚

• Sauz is now available at Gelson’s.

• Non-alc cocktail brand Free AF launched at select Target stores.

• Kylie Cosmetics is launching at Ulta Beauty.

• CVT Soft Serve launched at Central Market in TX.

• Perfy launched at GNC Mexico.