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Weekly Round Off With HTE 🔙✨
🌟 Hey there, dear readers! It's that time of the week again when we gather around to catch up on the latest and greatest in the Direct-to-Consumer (DTC) world. 🚀
So, let's get this party started! 🎉
Welcome back to another exciting edition of our DTC (Direct-to-Consumer) Insider newsletter. 📰 Our mission: to serve you the freshest news and insights straight from the heart of the DTC universe. 💡 With every update, we're arming you with the knowledge to be the smartest one in the room. 🤓
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JuneShine RTDs Secures Seven-figure Funding 🚀💰
Bubs’ Revenue Surges Amid Ongoing US Momentum 📈💥
Bansk Group Acquires Majority Interest in No Man's Land Foods, a Premium, Authentic Meat Snacks Brand 🥩🏹
Our Home to Acquire Several Utz Brands and Facilities 🏡🛍️
Shopify Launches Store Fulfillment Option for Brick-and-Mortar Merchants 🛒📦
JuneShine RTDs Secures Seven-figure Funding 🚀💰
31 January, 2024, The Spirit Business
InvestBev, a private equity firm, strategically invests in JuneShine, a brand known for its ready-to-drink (RTD) and hard kombucha products. Since its launch in 2018, JuneShine has expanded its offerings to include canned cocktails alongside its hard kombucha line. 🍹🥂 These cocktails feature a variety of flavors, including vodka Espresso Martini and Tequila Margarita, while the kombuchas boast flavors like Watermelon Razz and Strawberry Kiwi Crush, with a 6% ABV and no added sweeteners or artificial flavors. With InvestBev's support, JuneShine aims to further its position in the better-for-you alcohol market. Greg Serrao, JuneShine's CEO, expresses gratitude for InvestBev's involvement, citing plans for growth. InvestBev, impressed by JuneShine's products and ethos, sees the brand as a valuable addition to its portfolio. 🚀💼
Bubs’ Revenue Surges Amid Ongoing US Momentum 📈💥
31 January 2024, Inside FMCG
Bubs Australia, known for its goat’s milk infant formula, experienced a remarkable surge in revenue during the second quarter of the fiscal year, particularly fueled by its growth in the US market. Gross revenue soared by 79.7% to $25.7 million, with net revenue climbing even higher by 92.1% to $20.2 million, attributing 53% to the US segment which witnessed an impressive 498% revenue jump to $13.7 million. The company, prioritizing the US market strategically, has initiated a second production shift at its Deloraine factory to meet the surging American demand, aiming to double the daily production capacity and mitigate stock shortages. Despite minor fluctuations in other segments, Bubs remains confident in surpassing its $80 million net revenue forecast for FY24. 🐐🍼📈
Bansk Group Acquires Majority Interest in No Man's Land Foods, a Premium, Authentic Meat Snacks Brand 🥩🏹
1 Feb 2024, PR Newswire
Bansk Group, a consumer-focused private investment firm, has acquired No Man's Land Foods LLC, a premium meat snacks brand known for its exceptional beef jerky and meat sticks primarily sold in convenience stores. Founded in 1997, No Man's Land has seen rapid growth thanks to its unique slow drying production process, resulting in distinct taste and texture. Bansk sees potential to expand distribution and reach more consumers nationwide. No Man's Land's leadership remains intact, with plans to leverage Bansk's expertise for further growth. This marks Bansk's second investment in the food and beverage sector, following its acquisition of Red's All Natural. Legal counsel was provided by Kirkland & Ellis LLP for Bansk Group and Koley Jessen P.C., L.L.O for No Man's Land. 🥩🏹💼📈
Our Home to Acquire Several Utz Brands and Facilities 🏡🛍️
31 January 2024, The Food Business
Our Home is expanding its snack portfolio by acquiring R.W. Garcia and Good Health brands, along with three manufacturing plants from Utz Brands, Inc., for about $182.5 million. 🏡🛍️ R.W. Garcia specializes in tortilla chips, while Good Health offers a variety of snacks like pretzels, vegetable chips, popcorn, and fries. This move aims to diversify Our Home's offerings in the better-for-you snacking sector. Aaron Greenwald, CEO of Our Home, highlights the importance of building a strong team dedicated to delivering quality products. 💪👩🍳 The deal includes a co-manufacturing arrangement, optimizing the supply chain for both companies and accelerating Utz's deleveraging timeline. 💼💰 Overall, the transaction is expected to enhance Utz's financial position and drive growth in the US market. 📈
Shopify Launches Store Fulfillment Option for Brick-and-Mortar Merchants 🛒📦
1 February 2024, Modern Retail
Shopify is innovating its services with a new 'ship from store' feature, aiming to bridge online and offline retail for brick-and-mortar merchants. This update, part of the Shopify Editions release, enables store associates to fulfill orders directly from their POS systems, addressing inventory challenges and enhancing fulfillment efficiency. Notable customers like Allbirds see potential in this feature to transform stores into fulfillment hubs, optimizing inventory management and unlocking revenue opportunities.
This move aligns with Shopify's strategy to streamline business operations and support merchants in navigating the complexities of logistics. While challenges persist, including inventory management and fulfillment costs, Shopify's commitment to empowering merchants with flexible solutions underscores its dedication to driving retail innovation. Other updates in Shopify Editions include financial services expansion and developer-side enhancements, reinforcing Shopify's comprehensive approach to supporting merchants' growth. 🛒🏢💻
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