Supergut Raises Funding, Appoints New CEO 📈

GM and Happy Tuesday, folks. It’s the first day of Expo West so today’s edition is a quick one. If you’re going to Expo West and want to link up, shoot me an email! Let’s dive in:

• Nestlé bets on China 🍫

• KDP pays AB InBev $225M 💰

• HOKA partners with Marni 🔥

• Seattle Chocolate rebrands 💯

• Fazit launches at Target 🎯

Deals 💰

Mergers & Acquisitions 

• Nestlé is taking full ownership of Hsu Fu Chi, a Chinese manufacturer of candy and snacks. Nestlé originally acquired 60% of Hsu Fu Chi in 2011 for $1.7B and has since grown the business considerably. In late 2023, Nestlé acquired a majority stake in Brazilian chocolate maker Grupo CRM for around $600M. Shine

• Keurig Dr Pepper (KDP) is sending AB InBev $225M in order to acquire the distribution rights of Ghost Energy. KDP acquired a majority stake in Ghost late last year for $990M. Twitter

• L’Oreal is selling textured haircare brand Carol’s Daughter back to its founder, Lisa Price, and an unnamed beauty entrepreneur. Lisa Price launched the brand in 1993 then sold it to L’Oreal in 2014. Carol’s Daughter was doing $27M in net sales at the time of the transaction. WWD

• New Water Capital, a Boca Raton-based private equity firm, has acquired premium honey producer Dutch Gold Honey for an undisclosed sum. Dutch Gold was founded in 1946 and is best known for creating the iconic squeezable honey bear container. PR Newswire

Fundraising

• Supergut, a fast-growing purveyor of gut health supplements, secured growth funding from Full Frame Growth Partners, Access Capital, Strand Equity, and a number of other investors. The company also appointed Tracey Warner Halama, the former CEO of Vital Proteins, as CEO. Founder Marc Washington will transition into the role of Executive Chairman. AgFunderNews

What’s New 🤩

Apparel, Cosmetics, and Wellness

• HOKA released a pretty novel footwear collaboration with Marni, the Italian luxury fashion house. The puffy, maximalist collab is very fun. Highsnobiety

• Wildsmith, a British botanical skincare brand, is releasing two of its best-selling products in compostable packaging. The company also plans on transitioning five more products to compostable packaging later this year. The Industry

• Shana Randhava is stepping down as the head of New Incubation Ventures, the corporate venture & incubation arm of The Estée Lauder Companies. Global Cosmetics News

• LA-based fashion label STAUD launched its debut activewear collection earlier this year. Hypebae

Food, Beverage, and Alcohol

• Kevin McCray and Kelsie Costa, the co-founders of Kevin’s Natural Foods, are launching a seed oil-free snack brand called Wild Fox Foods. The better-for-you brand is launching with six roasted snack mixes and three protein bars. Kevin’s Natural Foods was acquired by Mars in 2023 for a reported $800M. NOSH

• Seattle Chocolate officially rebranded as Maeve Chocolate. The colorful new brand identity was developed by Young Jerks, the independent brand and packaging agency. Maeve will be hard to miss on the shelf; more great work from Young Jerks. PR Newswire

• Little Sesame is adding two flavors to its permanent lineup: Green Goddess and Golden Garlic. Green Goddess is available nationwide at Whole Foods Market while Golden Garlic is available at Whole Foods Market Mid-Atlantic. Instagram

• It appears that Lemon Perfect is rolling out a slightly modified look. Twitter

• Fresh off its acquisition of Alani Nu, Celsius Holdings named Eric Hanson as President and Chief Operating Officer. Hanson previously served as SVP of Strategic Partnerships at PepsiCo where he managed a portfolio of brands representing more than $3B in annual revenue. Business Wire

• Utah-based sports nutrition brand Bucked Up is launching a range of lightly carbonated protein beverages. Four flavors are available — Peach Mango, Banana Pineapple, Orange Cream, and Rainbow Candy — and each can contains 25g of protein and 100 calories. Stack3d

• Death Wish Coffee Co. is expanding into RTDs with a new line of canned lattes. The three RTD lattes are available at Albertsons, Five Below, and Walmart. PR Newswire

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Data 🖥️

• According to Reuters, shoppers are turning to smaller brands due to higher prices and ultra-processed ingredients. While massive brands like Hellmann’s and Best Foods are suffering, smaller ones like Duke’s Mayo and Mike’s Amazing Mayo are thriving. Reuters

• C4 Energy volume shot up 60% over the four weeks ending on February 8th. Ghost Energy volume increased 12.7% over the same period. Twitter

Distribution News 🚚

• Fazit launched at 1,000 Target stores.

• Amos Sweets launched at select Costco stores.

• Rodan + Fields launched at Ulta Beauty.

• Plastic free razor brand Nimbi launched at Target.

• Hair color brand OVERTONE launched at Sally Beauty.