Vettel Backs a Beverage Brand 🏁

Author

CPG WIRE
March 21, 2023

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

  • F1 champ invests in a beverage co 🏁

  • Vacation scores funding 🌞

  • Nice Drinks crowdfunds 🍷

  • Little Sesame collabs with Fly By Jing 🍜

  • Boka rolls out at Ulta 🦷

The Big Story 📰

Sebastian Vettel, the four time Formula 1 World Champion, invested in BACX Performance Fuel, a UK-based sports beverage brand. The company raised a total of £1.2m with Sebastian Vettel acting as the lead investor. Bill Ronald, the Chairman of mixers brand Fever-Tree, also participated and will join BACX’s board.


Vettel first became acquainted with BACX Performance Fuel while training for the 2022 F1 season. According to the German driver, “BACX is the first in my 15-year F1 career to have kept me energized right until the end of a Grand Prix, without any stomach problems. This inspired me to get involved, alongside our mutual values of sustainability.”

Founded in 2020 by Jason Baits-Tomlin, BACX Performance Fuel delivers aminos, electrolytes, and carbohydrates to help athletes stay hydrated and perform better. The products are entirely plant-based and free of artificial flavors and the 14 major allergens.

In addition to being an investor, Vettel will also act as a Global Brand Advocate for BACX Performance Fuel. A slam dunk of a partner for the young brand.

Deals 💰

Mergers & Acquisitions 

  • London-based sustainable coffee brand Grind acquired Bottleshot, a RTD coffee brand also based in London. Grind is mainly interested in Bottleshot’s distribution network, so they will wind down the brand, which is a shame because their branding is great. World Coffee Portal

  • Princes, a UK-based food and beverage group owned by Japan’s Mitsubishi Corp., is reportedly generating interest from private equity buyers. Aurelius Group and Valeo Foods are in the mix. Just Food

Fundraising

  • Vacation, the fast-growing sunscreen brand founded by Marty Bell and Lach Hall, secured $6m in Series A funding led by Silas Capital. Silas Capital has backed a number of successful brands like Cake, ILIA, and Makeup by Mario. Vacation has been on a tear — they recently rolled out at Ulta Beauty and launched a new Super Spritz SPF50. Business of Fashion

  • The co-founder of European Wax Center, Joshua Coba, invested in GLOSSLAB, a membership based nail studio with 20 locations. Coba has grown European Wax Center into a nationwide powerhouse with over 900 locations. PR Newswire

  • L’Oreal has invested in a joint venture with Unilever and Kao Corporation. The JV, led by biotech startup Geno, will produce sustainable, plant-based ingredients for use in beauty products. WWD

  • Canned wine brand Nice raised close to $1m on crowdfunding platform Seedrs. Love their boxed wines. Seedrs

  • As mentioned above, F1 champion Sebastian Vettel invested in performance beverage brand BACX Performance Fuel. Vegconomist

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What’s New 🤩

Apparel, Cosmetics, and Wellness

  • Premium oral care brand Boka is launching exclusively at 800 Ulta Beauty stores. Two of Boka’s toothpaste products, Ela Mint and Coco Ginger, will be available at Ulta along with their $75 stainless steel toothbrush. PR Newswire

  • Popular skincare brand BYOMA introduced another stunning product — The Moisturizing Gel-Cream SPF 30. The SPF 30 daily moisturizer is the ultimate blend of sun care, barrier care, and skin care. Happi

Food, Beverage, and Alcohol

  • Hummus brand Little Sesame collaborated with Fly By Jing on a Pumpkin Chili Crisp Hummus. The label is absolutely beautiful and I’m sure the product is great too. Instagram

  • Herbal sparkling water brand Aura Bora unveiled their latest flavor — Guava Eucalyptus. Cannot wait to grab one of these. Instagram

  • Astral Tequila, the tequila brand that Diageo launched last year, unveiled two new offerings, an anejo and a reposado. Both products are aged in American Oak bourbon barrels. PR Newswire 

  • Two of the biggest names in agave spirits are pioneering a new take on infused tequila. VinePair

  • Picadas hits the American RTD market with its original spiked aguas frescas. The Dieline

  • Better-for-you ice cream brand Halo Top launched two new frozen yogurt pops that are made with Icelandic style Skyr. PR Newswire

  • A new entrant in the hard juice category — Philly’s Two Robbers Seltzer Co launched Double Punch Hard Juice. Last week New Belgium introduced their own hard juice brand, Wild Nectar. Brewbound

Data 🖥️

Distribution News 🚚

  • Tito’s Handmake Vodka has appointed new distributors in Germany, Greece, and Hungary to expand their European footprint.

  • As mentioned above, Boka launched at Ulta Beauty.