CPG Co-Founder Drama
Rumor has it the Fishwives got divorced
Good morning! Hope you all enjoyed a lovely weekend. Let’s get into it.
Why Are Celebs Posing in Front of Cold Stone Logo at the Critic’s Choice Awards?
For the second year in a row, Cold Stone Creamery has snagged some prime real estate on the red carpet at the Critic’s Choice Awards. The meme account run by Caroline Goldfarb, one of Fish Wife’s co-founders, posted about this puzzling phenomenon pointing out that the backdrop of red and white roses in ice cream cones is giving “wedding/funeral at a local community center” which is a rather apt description.
Did the Fishwives Quietly Divorce?
Speaking of Caroline Goldfarb, rumor has it that she and Fishwife co-founder Becca Millstein are not on the best terms. The two founded the brand together in 2020 and Caroline made a lot of press appearances promoting the brand since she was arguably the one who was a bit more recognizable, thanks to her beauty podcast “Glowing Up”. After Fishwife recently went on Shark Tank,
, author of substack-hosted newsletter , found it odd that Becca was representing the brand without Caroline. So she did some sleuthing and found a lawsuit filed by Becca against Caroline for trademark infringement, discovered Caroline no longer follows Becca on Instagram, and built a compelling case as to why she thinks the co-founders broke up. We love some good CPG drama.
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Sanzo Raised $5M in New Investment Round
Asian-inspired sparkling water brand Sanzo raised $5M in funding according to a recent SEC filing. The total offering is for $8M and there were two investors in the close. This brings the brand’s total reported equity funding to $16.3M. I tried Sanzo for the first time this past week and was not expecting it to pair so well with my burrito, but it hit better than a Jarritos. Maybe it was the fact that this burrito was made by the same chef who has worked at Michelin-starred restaurants and private cheffed for Apple CEO Tim Cook, or it was the fact that the guac was so fresh it even rivalled my own (a high bar, let me tell you), but this Pomelo Sanzo HIT THE SPOT.
Nutpods Sells to Kroger-Backed MPearlRock
MPearlRock, an investing vehicle recently formed between Kroger’s PearlRock Partners and alternative asset manager MidOcean Partners, has made its first acquisition of dairy-free coffee creamer Nutpods from VMG Partners for an undisclosed sum. Nutpods, founded by Madeline Haydon in 2013, offers a variety of plant-based creamers, including almond-flavored options and barista oat milk. During their four-year partnership with VMG, Nutpods tripled top-line revenue, experienced a 30% CAGR, and their total distribution points across multi-outlet saw a 5X increase. The brand’s new partner, MPearlRock, sees significant growth potential for Nutpods and considers itself a strategic fit.
Caribou Coffee Makes a Deal with Peet’s
Caribou Coffee has signed a $260 million licensing agreement with JDE Peet's for its brand in consumer packaged goods and foodservice channels. The deal includes the transfer of Caribou Coffee's roasting operations in Minnesota and foodservice contracts. Caribou Coffee aims to focus on its retail coffeehouse business, while JDE Peet's gains a platform to expand its premium coffee portfolio in North America through the licensing agreement.
Daily Harvest Wants to Feed Your Child
For those that need a refresher, Daily Harvest faced criticism for its recall policy when it delayed the recall of its French Lentil + Leek Crumbles for seven weeks after customers reported severe symptoms (133 of which ended up hospitalized). The adverse reactions, caused by the inclusion of tara flour, led to a decline in subscribers, revenue, layoffs, and lawsuits exceeding $75 million. The brand recently launched fruit-and-veggie-packed ice pops for kids, which seems an odd choice. After endangering hundreds of adults, I’m unsure targeting children seems like the wisest move from a brand currently re-building its reputation.
Fly By Jing and Our Place Lunar New Year Collab
Our Place must have a full-time employee dedicated to brand partnerships because it seems like they’re always churning out collabs. The most recent is with Fly By Jing in celebration of Lunar New Year. Hot.
Deux’s Ready for Valentine’s Day
The better-for-you cookie dough brand already released their Valentine’s Day flavor. Queue the tidal wave of red and pink colored packaging we’re about to see.
That’s all for today. Happy Monday!