Round 2 Spirits Launches Debut Brand, Danny Meyer Backs Chip City 🍪

GM and Happy Thursday, folks. We have a lot to cover this morning including some mega funding rounds and a new vodka brand from the folks behind Patrón Tequila. Let’s dive in:

• Next in Natural buys Sound 🫧

• Three Ships secures funding 🧴

• Kelly Slater launches Freaks of Nature ☀️

• Protein Power Ball rebrands 😍

• Glossier heads to Space NK 💄

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Deals 💰

Mergers & Acquisitions 

• Next in Natural, a boutique private equity firm and venture studio, acquired sparkling beverage brand Sound for an undisclosed sum. Jeff Lichtenstein, an operating partner at Next in Natural and an alum of Chobani and Hu, will become Chairman of the Board at Sound. PR Newswire

• Simon Property Group sold its 10% stake in Authentic Brands Group (ABG) for $1.2B. WWD

Fundraising

• Chip City, the fastest-growing gourmet cookie chain in NYC, raised $7.5M in Series B funding from Enlightened Hospitality Investments (EHI). Chip City currently operates 38 stores across 8 states. EHI was founded by Danny Meyer, the founder of Union Square Hospitality Group and Shake Shack. PR Newswire

• Meati Foods, a Boulder-based producer of mycelium-based alt proteins, secured a whopping $100M in additional funding. Grosvenor Food & AgTech led the round with additional participation from Prelude Ventures, BOND, Revolution Growth, and Congruent. Thus far Meati Foods has raised a total of $365M. AgFunder

• Canadian natural skincare brand Three Ships raised $3.5M CAD in fresh funding. The round was led by BDC Capital via their Thrive Venture Fund. Three Ships will use the funding to grow their team and retail footprint in the U.S. Fashion Network

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What’s New 🤩

Apparel, Cosmetics, and Wellness

• Legendary surfer Kelly Slater launched a performance suncare brand called Freaks of Nature. The brand was developed alongside LA-based venture studio Squared Circles. The products feature innovative ingredients like biotech-derived vegan spider silk which provides an extra layer of protection. The packaging is brilliant and looks unlike anything else in the category 👇 Beauty Independent

• Kohler, a global leader in kitchen and bath products, partnered with Flamingo Estate on an admittedly stunning collection of sinks, bath tubs, toilets, etc. Kohler

• Henry Rose, the clean fragrance brand founded by Michelle Pfeiffer, named LVMH veteran Laure de Metz as its new CEO. Most recently de Metz served as General Manager, Americas for Benefit Cosmetics. Beauty Packaging

Food, Beverage, and Alcohol

• Round 2 Spirits, the brand incubator founded by John Paul DeJoria and former Patron Tequila execs, launched Weber Ranch 1902 Vodka. Instead of being distilled from corn, wheat, or potatoes, Weber Ranch is distilled from Blue Weber Agave. Curious how this performs. It’s a novel approach to vodka and it’s a great-looking bottle. PR Newswire

• Protein Power Ball rebranded as Day Out Snacks. A vast improvement IMO 👇 Day Out

• Sweet Nothings launched a new line of Dessert Pops. The pops are organic, free of artificial flavors, colors, and preservatives, and made with 100% real ingredients like dates and cacao. The new line is available exclusively at Whole Foods Market. Instagram

• Tyler Ricks, who recently served as the CEO of Super Coffee, has been named the CEO of Caulipower. NOSH

• JuneShine released a new hard kombucha flavor — Peachy Punch. Instagram

• Kevin’s Natural Foods, the refrigerated entrées brand that Mars acquired for $800M last year, is entering the frozen food aisle with 8 new SKUs. The frozen line is available at Target, Sprouts, and Thrive Market. PR Newswire

• Low-sugar candy brand SmartSweets reformulated four of its top selling SKUs: Sweet Fish, Sourmelon Bites, Sour Blast Buddies, and Peach Rings. The reformulated products are more flavorful and have a fresher texture (thank the lord). PR Newswire

Data 🖥️

• ODDITY, the Israeli consumer tech firm that owns IL MAKIAGE and SpoiledChild, had a killer Q1. Net revenue jumped 28% to $212M while net income increased 68% to $33M. Cosmetics Business

Distribution News 🚚

• Glossier is launching at Space NK in the UK and Ireland.

• Non-alc cocktail brand hiyo is now available at select Whole Foods Market stores.

• Artisanal cracker brand Top Seedz is now available at CVS and Kroger.

• Functional beverage brand Illicit Elixirs launched at 265 Walmart stores.

• Wellness brand PYM launched at Target.

• UK-based feminine care brand WooWoo launched at Blue Mercury.

• Crouton brand Kooshy is now available at Hannaford.