This Week in CPG - Pernod Stays Busy

Happy Wednesday, folks. Hope your week is off to a great start. Let's dive in...

The Big Story

French spirits firm Pernod Ricard has been keeping their bankers busy lately. What started off as a slow year for Pernod is ending with frenetic, acquisitive energy. Over the last few weeks they've made some key bets on the future:

• Acquired a majority stake in Codigo 1530, an ultra-premium tequila brand founded in 2016.

• Launched a new sotol brand, Nocheluna, in conjunction with Casa Lumbre and Lenny Kravitz.

• Significantly increased their stake in Sovereign Brands, a US-based portfolio of premium wine & spirits brands that includes Bumbu Rum and Luc Belaire.

• Pared their portfolio, selling off brands like Tormore Scotch Whisky.

None of this should come as a major surprise. Pernod's playbook — an emphasis on premium brands and agave-based products while selling off underperforming brands — has been Diageo's for some time now. Pernod was asleep but now they're awake and competing.

Deals

• LA-based superfoods brand Your Super was acquired by The Healing Company, a fairly new acquirer & operator of wellness brands. Link 

• Credo Beauty, a clean beauty retailer, acquired an East Coast competitor, Follain. Follain was founded by Tara Foley in 2013. Link

• Natura — the Brazilian beauty company that owns Avon, The Body Shop, and Aesop — is considering an IPO or spin-off of Aesop. The luxury skincare brand is its fastest-growing brand by a good margin while its others are languishing. Link

• Singaporean fashion brand Love, Bonito acquired Singapore-based activewear brand butter. It will be rebranded and relaunched as cheak. Link 

• As mentioned above, Pernod Ricard acquired ultra-premium tequila brand Codigo 1530. Link

• Japanese investment giant SoftBank sold its stake in The Hut Group to founder Matthew Moulding and Qatar Investment Authority. Link 

• Tinned seafood brand Scout raised $4m in funding. The round was led by Semillero Partners and Export Development Canada. Link

• Mubadala Capital acquired TruFood Manufacturing, a Pittsburgh-based formulator and co-packer of nutrition & protein bars. Link 

• Flash Coffee, the Singapore-based coffee chain that operates throughout Southeast Asia, raised an additional $5m in funding from Citadel International Holdings. The company closed on $32m earlier this year too. Link

Distribution Quickfire

• ZOA Energy, the energy drink brand founded by The Rock, launched in its first international market, Canada.

• Gut-friendly snack bar brand BelliWelli launched nationwide at Sprouts.

• Allergy-friendly cookie brand Partake Foods launched two seasonal flavors at Target.

• Cove Kombucha's variety pack hit shelves at Costco.

• Gut-healthy iced tea brand Halfday is now available at Whole Foods in the Mid-Atlantic and Florida.

• Diaper and baby care brand Freestyle rolled out at Gelson's and Harmons.

• Non-alc beer brand Partake Brewing launched at select Target stores.

What's New...

• Sommelier Andre Mack introduced his new rye whiskey brand, Rye & Sons. Looks great. Link

• Chamberlain Coffee, Emma Chamberlain's coffee brand that has been absolutely killing it, unveiled their latest product, Chai Tea. Link

• A really stunning brand refresh for snack brand munchrooms. Link

• Chubby Snacks partnered with TBH on a Peanut Butter & Hazelnut treat. Looks great. Link

• Cove Kombucha unveiled an excellent rebrand as well. Link

• Willow, a startup known for their popular breast pumps, launched a baby-safe skincare line for new mothers. Link

• Personalized hair care brand Function of Beauty launched its first styling product. Link

• Delivery giant DoorDash unveiled a self-serve ad platform for CPG brands. Link

Thanks for reading along, y'all. See you again Saturday morning.

Robbie @ CPG Wire