The Pathfinder Raises $3.6M, Rare Beauty Unveils New Line 📈

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

• Starco buys manufacturer 🏭

• Quince raises $200M 👓

• Duradry collabs with Coors 🍻

• Nara officially launches 🍼

• All In lands at Sprouts 🍫

Deals 💰

Mergers & Acquisitions 

• Starco Brands — the owner of Whipshots, Soylent, Art of Sport, and Skylar Beauty — is acquiring TSG, a contract manufacturer with three facilities across the US. Starco Brands hopes to unlock greater margin efficiencies through vertical integration. Business Wire

• Turri’s Italian Foods, a manufacturer of ready-to-eat Italian specialties, has acquired Joseph’s Gourmet Pasta, a Massachusetts-based producer of frozen pasta dishes. The seller is LaSalle Capital. Turri’s Italian Foods has been owned by Benford Capital Partners since last summer. LaSalle Capital

• P&G is on the hunt for more consumer healthcare assets. P&G acquired the consumer healthcare division of Merck — home to brands like Bion3, Seven Seas, and Kytta — for €3.4B in 2018 and has been pleased with the results thus far. Bloomberg

Fundraising

• Seattle-based non-alcoholic spirits brand The Pathfinder closed a $3.6M funding round led by Stoli Group. The Pathfinder was founded in 2021 by Guy Escolme, Chris Abbott, and Steven Grasse, the creator of Hendrick’s Gin and Sailor Jerry Rum. The brand launched in the UK last year and recently rolled out two RTD options. Fundz

• Quince, a DTC purveyor of high-quality but affordable apparel, raised $200M in equity funding at a $4.5B valuation. The round was reportedly led by Iconiq Capital, a private investment firm backed by the likes of Mark Zuckerberg and Jack Dorsey. Quince launched in 2018 and expects sales to surpass $500M this year. Fashion Network

• Sarelly Sarelly, a Mexican beauty & accessories brand, secured $3M in a seed funding round led by Wollef. Other investors include Sandbox Studios, Morgan Creek Capital Management, Hyve Ventures, and Semilla Ventures. Beauty influencer Anna Sarelly founded the brand in 2022. Global Cosmetics News

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What’s New 🤩

Apparel, Cosmetics, and Wellness

• Rare Beauty is launching a fragrance range at Sephora on August 7th. The fast-growing beauty brand is launching a perfume along with four fragrance layering balms. The perfume will retail for $75 which is slightly more affordable than Glossier’s fragrance line. Rare Beauty reportedly did $400M in sales in 2024. Cosmetics Business

• SKIMS just released its first beauty product and it’s not a cleanser or a serum. It’s called the Seamless Sculpt Face Wrap and it’s designed to alleviate signs of sagging. Both colors are completely sold out. Instagram

• Duradry and Coors Light collaborated on Dura Chill, the first-ever chill deodorant with cold-activated packaging. This is a very fun collab. Hats off to the Duradry team. PR Newswire

• Gap collaborated with travel brand Béis on a 26-piece capsule collection that spans apparel, luggage, and accessories. Early access opens today exclusively on the Béis app. WWD

• Pleasing, the beauty brand founded by Harry Styles, expanded into the sexual wellness category with two new products. The collection apparently sold out in minutes. The Industry

Food, Beverage, and Alcohol

• GoodPop and SmartSweets joined forces to challenge Fruit Riot. The two companies collaborated on Sourmelon Frozen Pop Bites which are bite-sized popsicles covered in sour candy coating. The product is free from artificial sweeteners, flavors, and dyes. This is a clever play and given Fruit Riot’s enormous success, the first of many competitors. PR Newswire

• Nara Organics is a new player in the clean infant formula category. Their products are produced in Germany and are free from palm oil, soy, corn syrup, maltodextrin, and GMOs. Founder Esther Hallam spent seven years developing the infant formula line which finally debuted on Tuesday. To date Nara Organics has raised $32M from the likes of AlleyCorp, BBG Ventures, Torch Capital, and a wide variety of celebrities and public figures. Femtech Insider

• NOVOS, a science-backed supplements brand focused on longevity, just released a longevity nutrition bar line. Each bar contains 15g of protein, 21 vitamins & minerals, adaptogens, and a number of other active ingredients. Three flavors are available: Mixed Berry Crunch, Peanut Butter Crunch, and Salted Chocolate Crunch. It’ll be interesting to see if their longevity claims stand up to scrutiny. Poppi was sued for less. Athletech News

• Hershey and Mondelez teamed up to launch three co-branded Reese’s x Oreo products. The new SKUs will be launching nationwide at retailers in September. The internet seems pretty thrilled about the collab. Instagram

• The Dubai chocolate trend still has a little gas left in the tank. UK-based canned cocktail maker The Drinks Bureau launched a Dubai Chocolate Style Espresso Martini. The new drink is available exclusively at 400 Morrisons stores across the UK. The Spirits Business

• Kraft Mac & Cheese unveiled its newest limited-edition flavor: Pizza. Kraft has been experimenting with limited-edition flavors like Smoky Barbecue and Everything Bagel in a bid to revive declining sales. All the more reason to anticipate a Goodles acquisition in the near future. Business Wire

Data 🖥️

• Kering’s revenue dropped 16% in the first half of 2025 as sales of Gucci and Yves Saint Laurent dropped double-digits. One brightspot for the luxury goods firm was its beauty division which grew by 9%. Kering attributed much of the beauty growth to Creed, the fragrance brand it acquired for €3.5B in 2023. The Industry

• Honey remains a hot commodity. According to the U.S. Department of Agriculture, consumption of honey and made-with-honey products reached an all-time high in 2024. Per capita consumption of honey also increased by 25%. PR Newswire

Distribution News 🚚

• All In Food launched nationwide at Sprouts Farmers Market.

• Harken Sweets launched at Giant Eagle.

• Twisted Alchemy launched at Whole Foods Market in two regions.

• Clean Cause launched storewide at the legendary Buc-ee’s.

• Fallen Grape Wine Co. launched at Total Wine & More.