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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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Nissin Foods enters the Korean Snack Market with the Gaemi Food Acquisition
Campbell reaps sales benefits from Sovos Brands but Noosa Yogurt to go
Jones Soda Enters the $19.1B Craft Mixer Category with New Jones Premium Craft Mixers
The Estée Lauder Companies Completes Acquisition of DECIEM
Venture Studio Squared Circles Secures $40 Million Series A Fundraising Round
Nissin Foods Enters the Korean Snack Market with Gaemi Food Acquisition
6 June 2024, Food Bev
🍜 Nissin Foods, the Hong Kong-based instant noodle giant, has acquired Korean snack company Gaemi Food for HK$271.7 million ($34.6 million) to strengthen its presence in Korea and beyond.
The deal gives Nissin full ownership of Gaemi Food, known for its 'Baked Crispy Roll' snacks and other kid-focused lines. "This acquisition is a strategic milestone for Nissin Foods," said CEO Kiyotaka Ando. Gaemi Food, a top brand in Korea's crispy roll segment, generated 20.15 billion won ($15.5 million) in revenue in 2023.
Nissin aims to leverage Gaemi's strong brand recognition and sales networks to expand its non-noodle business. Ando noted that this move will help diversify Nissin's revenue streams and enhance its understanding of local markets.
The acquisition, which includes the 'Kemy' confectionery brand, will complement Nissin's existing product lines. Nissin plans to use its distribution capabilities in China and Southeast Asia to boost Gaemi's snack brands globally. 🌏🍫
Campbell Reaps Sales Benefits From Sovos Brands But Noosa Yogurt To Go
6 June 2024, Just Food
Campbell Soup Co. is set to sell the Noosa yogurt business, part of its recent acquisition of Sovos Brands. CEO Mark Clouse announced that while Noosa has been a pleasant surprise and continues to perform well, yogurt does not align with Campbell’s core strategy.
The broader Sovos Brands portfolio, including Rao’s Italian pasta sauces, ready meals, soups, and frozen pizzas, bolstered Campbell’s third-quarter organic growth, which otherwise remained flat year-over-year.
Though Clouse did not specify potential buyers or a timeline for Noosa’s sale, he highlighted the brand’s excellent performance. The Sovos acquisition added 200 basis points to Campbell’s third-quarter sales and volume/mix growth, contributing for roughly seven weeks due to a delayed closure caused by an antitrust review, finalized on March 12.
Jones Soda Enters the $19.1B Craft Mixer Category with New Jones Premium Craft Mixers
4 June 2024, PR Newswire
Jones Soda Co. announces the launch of its new Jones Premium Craft Mixers! 🎉 Known for leading the craft soda market, Jones is expanding its high-growth beverage portfolio with these mixers, available nationwide starting Fall 2024.
The 7.5-ounce single-size mixers come in four-packs and six delightful flavors: Tantalizing Tonic Water with Cucumber, Fizzical Club Soda with Lemon, Crisp Ginger Beer with Lime, Glorious Margarita Mix with Jalapeno, Sparkling Pink Grapefruit with Lavender, and Cosmo Cranberry with Rosemary. Each flavor boasts a touch of botanicals for an elevated taste experience. A mixed six-pack featuring Sparkling Pink Grapefruit, Cosmo Cranberry, and Crisp Ginger Beer, perfect for vodka cocktails, will also be available.
"Jones Premium Craft Mixers reflect our commitment to flavor mastery," said David Knight, CEO of Jones Soda. "Our fans can now enjoy mixologist-level cocktails effortlessly!"
This new line taps into the $19.1B craft mixer category, highlighting Jones' growth from a craft soda company to a comprehensive beverage solution. 🍹
The Estée Lauder Companies Completes Acquisition of DECIEM
3 May 2024, Business Wire
The Estée Lauder Companies Inc. (NYSE: EL) has finalized its acquisition of DECIEM Beauty Group Inc., a vertically integrated, multi-brand Canadian company, known as "The Abnormal Beauty Company." ELC first invested in DECIEM in 2017 and became the majority owner in 2021. On May 31, 2024, ELC completed the purchase of the remaining interests for approximately $860 million, making the total investment around $1.7 billion. 💸
DECIEM, famed for its flagship brand The Ordinary, excels in ingredient transparency and innovative skin care. The Ordinary ranks highly in markets like Canada, the U.S., France, Germany, and the U.K. 🇨🇦🇺🇸🇫🇷🇩🇪🇬🇧
ELC CEO Fabrizio Freda lauded DECIEM's growth and dedication to high-quality skin care, highlighting their strong millennial and Gen Z following. DECIEM CEO Nicola Kilner expressed excitement about joining ELC, emphasizing their shared values of transparency and authenticity. 🌍✨
The partnership promises to enhance ELC's skincare portfolio and drive global expansion. 🌟
Venture Studio Squared Circles Secures $40 Million Series A Fundraising Round
30 May 2024, Business of Fashion
Squared Circles, known for investing in Nutrafol and creating brands like Magic Molecule and Kelly Slater’s Freaks of Nature, has secured $40 million in a Series A round led by L Catterton 💰. Their diverse portfolio spans the health, beauty, wellness, food, and fashion sectors. With this new funding, Squared Circles plans to launch and scale five more brands over the next three years 🚀.
Exciting projects in stealth mode include a children’s functional medicine brand, a sperm health brand, and a food brand designed for the GLP-1 generation 🍽️. Jon Owsley, managing partner of L Catterton’s Growth Fund, praised Squared Circles' strategic approach to consumables and their blend of science and culture, highlighting their unique position in the market 🌟.
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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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