TSG Buys Saltair, Cutwater Approaches $1B 📈

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

• LVMH sells SirDavis stake 🥃

• Vaca secures $1.5M 🌽

• Gap relaunches fragrance line 👀

• Free Rein expands into RTDs ☕️

• Protein Candy debuts at Hy-Vee 💪

Isagani Yorke Capital Partners is throwing a 16-team pickleball tournament in Austin, TX on August 6th. CPG entrepreneurs are invited to compete in the March Madness style pickleball tournament which will be held at the historic Millbrook Estate next Thursday. You can register for the event here.

Deals 💰

Mergers & Acquisitions 

• TSG Consumer Partners is acquiring a majority stake in Saltair, the fast-growing bodycare brand co-founded by Iskra Lawrence and The Center. Terms of the deal weren’t disclosed but Saltair’s FY sales are expected to top $150M this year. The Saltair transaction is another big win for Ben Bennett — the founder & CEO of The Center — who has exited three beauty companies in the past three years (Naturium, Phlur, and Saltair). Business Wire

• Spanish brewer Damm has acquired an undisclosed stake in Dalston’s, a UK-based better-for-you soda brand. Dalston’s will leverage Damm UK’s commercial infrastructure to dial up production, distribution, and innovation. The company was founded in 2017 by London-based chef Duncan O’Brien. Dalston’s is available at Asda, Waitrose, Ocado, and thousands of independent stores throughout the UK. Like Molson Coors, Damm is eager to go beyond beer and build a total beverage portfolio. Global Drinks Intel

• Campari Group is selling Cabo Wabo Tequila and Bisquit & Dubouché Cognac to Cobblestone Brands, an Irish spirits company. Cobblestone Brands has acquired several unloved spirits brands over the years, including two from Pernod Ricard last year. Drinks International

• LVMH has sold its minority stake in SirDavis Whisky to its founder, Beyoncé. Beyoncé partnered with LVMH in 2024 to launch SirDavis and now she’s the sole owner of the spirits brand. SirDavis is produced by MGP Ingredients and bottled in Texas. The Spirits Business

Fundraising

• Beef tallow tortilla chip brand Vaca closed a $1.5M seed round led by BAM Ventures. Several strategic angel investors like Brian Lefler, Troy Bonde, Nic Jamett, and Justin Mares also participated in the round. Vaca was co-founded by Brian Gibb and Joshua Haddox in April 2025. The company is on pace to exceed $1M in monthly revenue in August. Instagram

• Epicutis, a science-backed skincare brand focused exclusively on the professional channel, secured $25M in growth funding led by GroundForce Capital. Born from more than 20 years of research through its affiliate Signum Biosciences, Epicutis is available at over 4,000 professional accounts across the country and revenue has grown at a 100% CAGR over the past two years. Business Wire

• Israeli food tech startup Plantopia raised $9M in funding co-led by global dairy producer Schreiber Foods and Siddhi Capital. Founded by Tal Lutzky and Amir Tiroler, Plantopia leverages molecular farming to produce sustainable and affordable dairy protein alternatives. FinSMEs

What’s New 🤩

Apparel, Cosmetics, and Wellness

• Fast-growing fragrance brand Dossier has appointed Stefano Curti as Executive Chairman. Curti spent several decades at Johnson & Johnson before becoming Global Chief Brands Officer at Coty. Earlier this year, PE firm American Pacific Group acquired a significant stake in Dossier which is best known for its dupe fragrances. PR Newswire

• Gap is getting back into beauty by relaunching its 90s fragrance range. Gap Beauty debuted with five scents: Dream, Grass, Heaven, Harmony, and Om. The fragrances retail for $52 and actress Victoria Pedretti is the face of the “Wear What You Feel” launch campaign. Harper’s Bazaar

• Ascent Protein moved into a new category with the launch of its Clean Hydration line. Ascent Clean Hydration delivers 800mg of electrolytes from a combination of sodium and potassium, along with 4g of added cane sugar to support optimal electrolyte absorption. Instagram

• Westman Atelier is launching a skincare-infused foundation line called Suprême Bio-Complex Liquid Foundation. The new line will be available in 30 shades and retail for $69. Westman Atelier is backed by Prelude Growth Partners which recently exited Phlur, Bachan’s, and So Good So You. WWD

Food, Beverage, and Alcohol

• Free Rein Coffee Company just moved into the RTD category with its protein cold brew line. Each can contains 20g of protein, 140 calories, and 8g of real cane sugar. Four flavors are currently available: Straight Vanilla, Texas Pecan, Straight Chocolate, and Sweet Cream. Free Rein also launched a new line of protein K-Cups with four flavors. BevNET

• Former Dots Pretzels CEO Randy Johnson was named the CEO of The Farmer Companies which owns Whisps, the popular cheese snack brand, and several snack licenses for Guinness, Cabot Creamery, and Nathan’s Famous. The Farmer Companies also announced $17M in Series A financing from Raff Ventures and AJAX Capital Partners. Randy Johnson helped scale Dots Pretzels from $19M to $250M in annual sales. PR Newswire

• C4 officially launched its Sparkling Protein line which contains 20g of protein, 0 sugar, and 5 essential vitamins & minerals. Three flavors are currently available at Walmart: Cherry Vanilla (Walmart exclusive), Strawberry Watermelon, and Lemon Lime Fizz. PR Newswire

• Joel Gott Wines announced the launch of Sauvy B, a canned Sauvignon Blanc spritz that’s infused with electrolytes. Their new spritz line is made with California Sauvignon Blanc, sparkling water, electrolytes, and bright citrus flavors. Sauvy B is available at Total Wine & More, Target, and Walmart. FoodBev

• Ni-Howdy, a Dallas-based purveyor of clean Asian pantry staples, unveiled a Squeezable Soy Sauce line. Three varieties are available: Classic Soy Sauce, Tamari Soy Sauce, and Low Sodium Soy Sauce. The labels are cute. Nosh

Data 🖥️

• AB InBev says Cutwater is well on its way to becoming a billion-dollar brand. AB InBev purchased Cutwater in 2019 and the canned cocktail brand delivered triple digit revenue growth in Q2. AB InBev’s Beyond Beer portfolio (Cutwater, NÜTRL Vodka Seltzer, and Mike’s Hard Lemonade) continues to deliver impressive growth. BevNET

Distribution News 🚚

• Protein Candy launched at Hy-Vee.

• Kirra Iced Tea launched at Goop Kitchen.

• SOLLOS Yerba Mate is now available via Gopuff.

• Smood Sweets launched on Misfits Market.