It's Skinny Pasta Scores Funding, Bragg on the Block 🍏

Author

CPG WIRE
June 22, 2024

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

  • Sprecher bets on O2 💦

  • New VC fund from Natura & Co 💄

  • Deuxmoi launches fragrance 👀

  • Explorer unveils canned cold brews ☕️

  • Gin continues to grow 📈

Deals 💰

Mergers & Acquisitions 

  • Bragg Live Food Products, a leading producer of apple cider vinegar products, is reportedly exploring a sale that could value the company at more than $500M. Katy Perry and Orlando Bloom teamed up with Swander Pace Capital and other investors to acquire Bragg in 2019. Swander Pace Capital has been on a roll with two exits in 2024. Reuters

  • Sprecher Brewing Company acquired a minority stake in O2 Hydration, a Columbus-based purveyor of canned hydration beverages. Sprecher has been an active buyer lately. In January, they purchased Juvee, the energy drink brand, and prior to that they acquired Ooh La Lemin, a BFY lemonade brand. Milwaukee Journal Sentinel

Fundraising

  • Austin-based It’s Skinny Pasta secured $3.8M in equity funding from undisclosed investors. The company sells low carb, high fiber pasta that’s made out of konjac, an ancient root vegetable. The brand retails at Albertsons, H-E-B, Target, and Walmart. SEC

  • NIO Cocktails, a Milan-based purveyor of RTD cocktails, raised an undisclosed amount of funding from The Growth Foundation. NIO sells their cocktails in letterbox-friendly vessels. The Spirits Business

  • Natura & Co, the Brazilian beauty firm that sold Aesop for $2.5B last year, launched a new venture capital fund called Vox Capital. The fund has been seeded with initial capital of R$50M and will back startups focused on the circular economy, beauty, and customer service technology sectors. Natura’s other venture arm, Fable Investments, has backed EADEM, Perfumer H, and other beauty brands. Global Cosmetics News

What’s New 🤩

Apparel, Cosmetics, and Wellness

  • Deuxmoi, the celebrity gossip and pop culture media outlet with over 2M followers on Instagram, launched a fragrance with Los Angeles-based Voyage et Cie. The fragrance is available exclusively at Violet Grey. Glossy

  • Skylar Clean Beauty (owned by Starco Brands) released a new fragrance called Citrus Reverie. Business Wire

  • Travel and lifestyle brand Monos opened its second retail location in Canada. The new store is located in Toronto while their first store is in Vancouver. Business Wire

  • Oral care brand MOON released a fun collaboration with Hello Kitty that’s available at Amazon, Nordstrom, and Ulta Beauty. PR Newswire

Food, Beverage, and Alcohol

  • Explorer Cold Brew launched a great-looking range of 12 oz. canned cold brews. The three canned SKUs have varying caffeine levels so customers have some optionality. Explorer

  • Mark Anthony Brands, the owner of White Claw and Mike’s Hard Lemonade, launched an RTD vodka lemonade brand in the UK called Lemada. Grocery Trader

  • Tia Lupita Foods reformulated and refreshed the packaging of their grain-free tortilla chip line. Instagram

  • Evolution Fresh, the juice brand that Bolthouse Farms acquired in 2022, launched a healthy soda line called Real Fruit Soda. They offer five flavors and the packaging looks pretty good. Evolution Fresh

Data 🖥️

  • Per IWSR, global gin volumes increased by 4% in 2023 and consumption is up nearly a quarter compared to 2019. The Spirits Business

Distribution News 🚚