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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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Above Food Corp. to Acquire GoodWheat Brand from Arcadia Biosciences for $4M 🌾
Lululemon to Acquire Mexico Franchisee, Retail Locations ✨
Revolutionizing Cyclist Performance: WHOOP & ASSOS Unveil Cutting-Edge Cycling Shorts
All Things Butter Secures £2.2M Funding! 🧈
Pernod Ricard in Talks to Sell Australian Wine Division to Accolade 🍷
🚀 Above Food Corp. to Acquire GoodWheat Brand from Arcadia Biosciences for $4M 🌾
17 May 2024, Just Food
Canada-based Above Food Corp. will acquire the GoodWheat brand from Arcadia Biosciences for $4 million. GoodWheat, launched in 2018, offers fiber-rich pasta, pancake mixes, and instant pancakes, available on over 3,500 shelves and Amazon. This acquisition supports Above Food’s focus on nutrient-dense, plant-based products.
Arcadia's CEO, Stan Jacot, highlighted the partnership's potential to scale Arcadia’s wheat IP. Above Food CEO, Lionel Kambeitz, emphasized the move aligns with consumer demand for healthier, non-GMO foods. This marks Above Food’s second major acquisition in a year, following its purchase of Atlantic Natural Foods.
Arcadia, undergoing strategic reviews to maximize shareholder value, reported a 2.4% revenue increase to $1.26 million in Q1 2024, despite an increased net loss.
🔗 Highlights:
Acquisition Value: $4M
Products: Pasta, pancake mixes, instant pancakes
Availability: 3,500+ shelves, Amazon
Strategic Fit: Nutrient-dense, plant-based portfolio
Previous Acquisition: Atlantic Natural Foods
📈 Arcadia's Financials:
Revenue: $1.26M (Q1 2024)
Net Loss: $2.42M
The transaction facilitates early monetization of Arcadia's IP while exploring other licensing opportunities.
Lululemon to Acquire Mexico Franchisee, Retail Locations ✨
16 May 2024, Bloomberg
Lululemon is taking full control of its operations in Mexico! They recently acquired their franchise partner, Lululemon Mexico, which means they now directly own all 15 stores in the country.
This is a big move for Lululemon, showing their confidence in the Mexican market. They entered the market in 2017 and have apparently been doing well. They haven't released details about the acquisition cost, but all employees from the franchise will be transitioned to Lululemon. This is a positive sign for both the company and the employees.
🚴♂️ Revolutionizing Cyclist Performance: WHOOP & ASSOS Unveil Cutting-Edge Cycling Shorts
16 May 2024, PR Newswire
WHOOP and ASSOS of Switzerland have teamed up to launch the Mille GT WHOOP Bib Shorts C2 and UMA GT WHOOP Bib Shorts C2, combining top-tier cycling apparel with advanced performance-tracking technology. After nearly two years of development and testing, these innovative shorts integrate WHOOP's data collection seamlessly, enhancing comfort and performance for cyclists.
Key Features:
Lightweight, breathable materials
Enhanced flexibility and comfort
Accurate data collection from a strategically placed pocket
Available now for $190 at WHOOP and ASSOS websites and select stores. Special offers include $20 off an annual WHOOP membership or a one-month free trial.
🧈 All Things Butter Secures £2.2M Funding! 🧈
15 May 2024, FoodBev Media
New UK dairy brand All Things Butter has raised £2.2 million in a seed funding round, just six months after launching. With nearly 250,000 blocks sold, the brand plans to expand into more national retailers and establish an international supply chain 🌍.
The funding, led by Access Industries with support from Active Partners and Hollywood producers Josey McNamara and Thomas Ackerley, aims to help All Things Butter reach US and Middle Eastern markets. The brand will also expand its product range, currently featuring Salted, Unsalted, Garlic & Herb, and Chilli butters 🌶️.
Co-founder Toby Hopkinson said, “We are delighted to close our second round of investment to continue fuelling the growth of All Things Butter.”
Pernod Ricard in Talks to Sell Australian Wine Division to Accolade 🍷
13 May 2024, The Drink Business
Pernod Ricard is negotiating to sell its Australian wine business to Accolade for AU$500 million (£265m), as reported by the Australian Financial Review. Accolade, recently rescued by Bain-led AWL, is Australia's second-largest wine producer.
Key Points:
Accolade's Challenges: Debt issues worsened by COVID-19 and Chinese tariffs.
Australian Wine Industry: Facing surplus, financial strain, and restructuring.
Australian Vintage (AV): Also in merger talks with Accolade; recently fired its CEO.
Pernod Ricard aims to offload low-performing assets, with the future of its Jacob’s Creek brand uncertain. Neither company has commented on the deal yet.
Grower Impact:
Accolade proposes a new contract to South Australian growers, who will vote on it soon.
Treasury Wine Estates, the largest producer, is also restructuring and may split its luxury and commodity divisions.
The Australian wine sector is undergoing significant changes as major players adapt to market challenges.
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As we wrap up this edition of our newsletter, we hope you found the blend of news and insights as invigorating as we did. The world of DTC and beyond continues to evolve, and staying informed is the key to success. Keep those entrepreneurial spirits high, and remember, we're here to keep you ahead of the game. 🚀🌟📰
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