Sazerac Buys Vodka Brand, Yellowbird Appoints CEO 🌶️

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

• Coty initiates strategic review 💄

• PerfectTed’s valuation surges 🍵

• Ancient + Brave lands in the U.S. ✈️

• Junkless expands offering 🍫

• Olyra launches at Target 🎯

Deals 💰

Mergers & Acquisitions 

• Sazerac Company, the New Orleans-based spirits giant, just expanded its vodka portfolio with the acquisition of Western Son Vodka. Founded in 2011 and now based in Pilot Point, Texas, Western Son produces 11 different vodka products at its North Texas distillery. With Sazerac and Tito’s both making big acquisitions in the past week, perhaps spirits M&A is back. Global Drinks Intel

• Coty enlisted Citi for a comprehensive strategic review of its consumer beauty business. The review could result in the sale of Coty’s mass color cosmetics unit which is home to brands like CoverGirl, Rimmel, Sally Hansen, and Max Factor. Additionally, Coty could sell or spin-off a Brazilian beauty unit that does close to $400M in annual revenue. Moving forward, Coty wishes to prioritize prestige beauty and fragrance. Coty

Fundraising

• UK-based beverage brand PerfectTed closed a 7-figure funding round at a valuation around £140M. The round was led by Felix Capital. PerfectTed launched in 2021 and sells a variety of matcha products, including RTD beverages, flavored powders, and Nespresso pods. The company is regarded as one of the fastest-growing consumer brands in the UK. LinkedIn

• Waku Tea, a Boston-based purveyor of prebiotic herbal teas, secured an undisclosed amount of funding from Beckett Industries, an alternative investment firm. Waku Tea retails at ShopRite, DeCicco & Sons, Fairway Market, and select Whole Foods Market stores. LinkedIn

• Sustainable bottled water brand PATH Water raised an undisclosed amount of funding from Morrison Seger Venture Capital Partners. PATH Water retails at over 60,000 doors across the U.S. and revenue is on pace to exceed $70M this year. Instagram

• SEEQ, a Minneapolis-based purveyor of clear protein powders, secured a new credit facility from Assembled Brands to support its rapid growth and retail expansion. Assembled Brands

On October 8th, Shine a Light on the Year’s Best Innovation in CPG 🗓️

Highlight’s second annual virtual summit, Showcase, is back and better than ever. Join from anywhere in the world to hear:

• Consumer insights professionals discuss the power of protein

• How to crack the code on baby products parents love and trust

• Year-over-year research predicting consumer spending this holiday season

…and much more! Tune in on Wednesday, October 8 at 1pm ET / 10am PT for an afternoon of in-depth learning sessions for Consumer Insights, R&D, and Brand Marketing professionals across the CPG and retail spaces.

Visit the registration page to learn more and secure your spot.

What’s New 🤩

Apparel, Cosmetics, and Wellness

• SlowMornings is a new beauty-focused hydration brand. The company was co-founded by Nick DeAngelo, a veteran of the CPG industry, and Timothy Lambert, a model and creator. Their debut product is a hydration drink mix that’s formulated with active ingredients like collagen peptides, biotin, magnesium, and potassium. SlowMornings 

• British wellness brand Ancient + Brave officially debuted in the U.S. The company offers a variety of supplements that support cognitive health, energy, performance, beauty, and longevity. Ancient + Brave was recognized as the 5th fastest-growing private company in the UK in 2024. The company is backed by Piper, a consumer-focused investment firm. Beauty Independent

• Norms is a modern wellness brand that’s trying to normalize the conversation and treatment of hemorrhoids. The brand combines clinically-proven, FDA-compliant products with a warm and approachable brand identity. Norms was co-founded by Joshua Katz, one of the founders of Dad Grass, and his wife, Carli Roth, an investor in brands like Kin Euphorics, Brightland, and Dune Suncare. This is a very smart play 👇 PR Newswire

• Viral toy brand Squishmallows is moving slightly upmarket and launching a very on-brand range of fragrances. The range aims to capitalize on the teenage fragrance boom and will launch nationwide at Ulta Beauty on Sunday, October 5th. Instagram

Food, Beverage, and Alcohol

• Junkless Foods, the granola bar brand that billionaire Mike Repole acquired in late 2023, just expanded into the protein bar category with four flavors. Each bar contains 15g of protein and an impressive 6-8g of fiber. The new line is available at Sprouts and will debut on Amazon soon. Food Business News

• After leading Yellowbird since its inception over 12 years ago, George Milton is now stepping down as CEO and handing the reins to Michael Woolard, a seasoned finance & ops exec. Woolard is joining Yellowbird from Koia where he served as President & CFO. LinkedIn

• On Tuesday we covered Float House, a non-alc, THC-infused beer brand. Today we’re covering the launch of DER, a non-alc, kratom-infused beer brand. DER was co-founded by actor Nico Tortorella and each can features 30mg of kratom. PR Newswire

• Honey Mama’s unveiled a new look which is really more of a maturation than a full rebrand. They added some much-needed product imagery and a few key callouts. The refresh ought to help Honey Mama’s connect with new consumers which is good because their products are excellent. Instagram

• Years, a non-alc beer brand with Midwestern roots, just partnered with John Mulaney on an excellent campaign for Sober October. Years was co-founded by Pat Corcoran and Pilot Project Brewing, a contract brewer and beverage incubator. Per credible sources, Years is one of the best non-alc beers in the marketplace. Instagram

• It appears that Fishwife and Churn Butters are releasing a co-branded butter product. It drops later today. Instagram

• There’s a new GLP-1 protein shake brand on the market called todo. The product helps curb cravings by combining 26g of protein with 6g of prebiotic fiber. The company claims to provide up to four hours of fullness with every 12 oz can. PR Newswire

Data 🖥️

• PRIME sales continue to collapse. The once-thriving beverage brand’s volume dropped nearly 50% during the 4-week period ending on September 6th. Twitter

• Sales of premium frozen pizza brand PORTA have grown more than 2.5x year-over-year. PORTA attributes the success to its premium branding, elevated flavors, and expanded distribution in the U.S. PR Newswire

Distribution News 🚚

• Olyra launched at 1,300 Target stores.

• Wild Common launched in California, Georgia, and New Mexico.

• BERO launched on Ocado in the UK.

• Go Raw launched at Albertsons, Kroger, and Raley’s.

• PHX Energy launched at Cumberland Farms.