TRIP Valuation Hits $300M, Sanzo Adds Celeb Investor 👀

Welcome back to This Week in CPG, folks. Here’s what we’re covering this morning:

• TreeHouse exits for $2.9B 🏭

• Graymatter secures $1.3M 🧠

• Bubble unveils new line 🪞

• Oh So Easy officially debuts 🍰

• JAMS launches at Target 🎯

Deals 💰

Mergers & Acquisitions 

• TreeHouse Foods (NYSE: THS), a leading contract manufacturer of snacks and beverages in North America, has been acquired by Investindustrial for $2.9B in cash. TreeHouse produces a variety of private label products for retailers like Costco, Walmart, and Kroger. In Q2 2025 TreeHouse Foods delivered net sales of $801M and adjusted EBITDA of $73M. Twitter

Fundraising

• Paperboy Ventures is gearing up to launch its debut venture fund. Kyle Fitzpatrick launched Paperboy in early 2024 as a content series to highlight early-stage brands looking to raise capital, and now they’re preparing to deploy capital. More from Kyle on LinkedIn here. Excited to see who Paperboy backs in the coming months. Forbes

• Asian-inspired sparkling water brand Sanzo just added Chrissy Teigen to its cap table. Founded by Sandro Roco in 2018, Sanzo now retails across the country at Walmart, Whole Foods Market, Spouts, Albertsons, and other chains. In addition to Chrissy Teigen, Sanzo’s previous investors include CircleUp Growth Partners, Convivialité Ventures, Morrison Seger, and others. Instagram

• TRIP, a leading player in the relaxation beverage category, just closed a $40M round led by Coefficient Capital. A number of celebrities like Joe Jonas, Paul Wesley, Ashley Graham, and Alessandra Ambrosio also participated in the round. TRIP is now valued north of $300M as 2025 sales are expected to top $100M. The relaxation beverage space — a counterweight to the massive energy drink category — has been on a roll lately. Last month, Recess closed a $30M Series B round led by CAVU Consumer Partners. PR Newswire

• Nootropic supplement brand Graymatter secured $1.3M in seed funding from Venrex and APEX. Founded by Jim Phillips and Novisa Petrusich, Graymatter aims to make cognitive supplementation the next daily ritual. Graymatter’s flagship product supports long-term brain health while also delivering noticeable cognitive enhancement within minutes. Bullish on Graymatter. Business Wire

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What’s New 🤩

Apparel, Cosmetics, and Wellness

• Fast-growing skincare brand Bubble expanded into a new category with a line of Color Correcting Balms. Bubble offers Secret Agent which camouflages redness and Under Cover which helps with dark spots and hyperpigmentation. Bubble hired Centerview Partners earlier this year to explore its deal options. Instagram

• Study Supps is a new student-focused supplement brand. The brand’s debut product is Dialed-In which is a clean nootropic that helps students focus. The product is formulated with Citicoline, Lion’s Mane, Alpha GPC, BriteBloo, and slow-release caffeine. Stack3d

• Former Glossier exec Annie Kreighbaum teased the launch of Kraum, her new beauty brand. Details are scarce but Kraum’s clever tagline is “A Vanity Project.” Kreighbaum also co-founded Soft Services where she served as Chief Creative Officer. Instagram

• KAYALI expanded its fragrance range with a new collection called FREEDOM. The new collection is available online and will hit Sephora shelves later this month. PR Newswire 

• Salt & Stone partnered with popular fitness chain [solidcore] on a 2-year amenities program. The company also created an exclusive Bergamot & Hinoki Hand Wash for the fitness studio. Instagram

• Neutonic expanded into a new category with its Creatine Sticks. Each stick delivers 5g of Creapure creatine monohydrate and three flavors are available: Pineapple, Strawberry Lime, and Unflavored. Neutonic

Food, Beverage, and Alcohol

• Globally-inspired baking mix brand Oh So Easy just opened early access for waitlisters. The company launched with three baking mixes: Miso Caramel Brownie Mix, Ube Blondie Mix, and Spiced Yellow Cake Mix. The branding is fun and nostalgic. Instagram

• Cellular Soda is a new hydrating soda brand from the UK. The company launched with two flavors: Elderberry Peach and Lime Sea Salt. The sparkling beverage delivers electrolytes along with a number of vitamins. Cellular Soda

• Monster Beverage is launching a female-focused energy drink brand called FLRT in 2026. The beverage is formulated with 200mg of caffeine, zero sugar, and no artificial colors. Looks like FLRT will launch with four flavors: Strawberry Fling, Guava Lava, Berry Tempting, and Sunet Squeeze. FLRT

• Diageo appointed Dave Lewis as its next CEO. Lewis spent nearly 30 years at Unilever then served as the CEO of supermarket chain Tesco from 2014 to 2020. Diageo’s share price sits at a 5-year low as consumers spend less on alcohol and trade wars hamper results. WSJ

• ESSPO is a new beverage brand from Brooklyn that’s combining espresso with soda. The company is launching with three flavors: Dirty Chai, Sweet Lemon, and Cherry Vanilla. Excited to try this one. ESSPO 

Data 🖥️

• Perfect Bar continues to deliver for Mondelez. Perfect Bar sales over the last 12 months are up 20% to just over $156M, growing nearly 5x faster than the broader protein bar category. Mondelez acquired a majority stake in Perfect Bar in 2019. LinkedIn

• Laird Superfood had a solid Q3 with net sales rising by 10% to $12.9M. YTD net sales currently sits at $36.5M, up from $31M in the corresponding prior year period. Business Wire

• Willie’s Remedy+, the THC-infused beverage play from JuneShine, hit a $60M run rate in less than 8 months. The company has also sold more than 250,000 bottles. Instagram

Distribution News 🚚

• JAMS launched at 950+ Target stores.

• Dirty Gut is launching at over 50 Raley’s stores.

• Mateina launched nationwide at Whole Foods Market.

• Pecana launched at Walmart, Sprouts, and Natural Grocers.

• FRUGA is now available storewide at Sprouts Farmers Market.

• HY.Q is now available on Amazon.