Bachan's Gets Acquired, Oats Overnight Raises $45M & More
Consumer VC Roundup #151 – Latest News in Emerging Consumer Brands, Tech & Commerce Enablement
Hey friends,
I can’t believe Expo is only a few short weeks away. If you’re attending, we’re bringing back “Rise, Roast, & Meet CPG”, our morning event on Thursday, March 5th from 8am-10am. This is our third year doing it, and I’m so grateful for the response. Thus far, we have over 300 RSVPs, with many brand operators and equity investors attending…but don’t worry, we still have room. RSVP Here
On to the news from the week.
This Week In Consumer
📰 Consumer News📰
Retailers are accelerating bets on agentic AI commerce in 2026, partnering with platforms like Google’s Gemini, Microsoft’s Copilot and previously OpenAI’s ChatGPT to make products purchasable through external AI assistants. While companies like Amazon and Walmart are also promoting their own AI tools, experts warn that selling through third-party AI platforms could cost retailers valuable customer data and direct relationships, signaling a potentially game-changing shift for the industry. RD
Aritzia is facing higher costs after the end of the U.S. de minimis exemption and new tariffs, prompting the retailer to shift all U.S. order fulfillment to Ohio. On its Q3 earnings call, CFO Todd Ingledew said trade-related challenges created a 410-basis-point margin headwind, with about one-third tied to de minimis changes and the rest to tariffs. Despite this pressure, gross margin still rose 30 basis points year over year, helped by lower markdowns, freight benefits and better fixed-cost leverage. RD
🧃Consumer👚
💰Fundraises💰
Coco5 has raised $10 million to fuel growth and expand beyond the sports drink category. The athlete-backed coconut water brand will use the funding to hire senior leaders, scale operations, and drive product innovation as it positions itself at the intersection of sports nutrition and mainstream wellness. RM
Simon Property Group revealed it invested $100 million in Saks Global in late 2024 during the retailer’s $2.7 billion acquisition of Neiman Marcus, but Saks filed for bankruptcy this month after a turbulent year of financial struggles and market share losses. Simon also told the court the luxury retailer owes it more than $7 million in unpaid rent. RD
Live Tinted, a community-driven beauty brand by Deepica Mutyala that’s in 1,400 Ulta stores, raised an undisclosed amount in a strategic investment from Curate Capital, L’Oréal’s venture arm. WWD
Oats Overnight, the breakfast oats brand, raised $45M from Astō Consumer Partners. This takes their total funding to roughly $130m – Nosh
Milliways, the plastic-free chewing gum raised $3M from chewing gum veterans for U.S. expansion. Total funding now $10M – Nosh
Bawi raised $6M in Seed/Early Stage. Agua fresca maker closing on $6M round, has raised $4.1M so far – BevNet
Elorea, the Korean-inspired fragrance brand, raised $5M led by Willow Growth Partners with participation from Era VC. Instead of focusing on wholesale channels, Elorea is expanding its own brick-and-mortar stores. Total funding now $7.75M – Beauty Independent
Good Bacteria, the gut health probiotic supplement brand, raised a $3.2M seed round from BAM Ventures, BrandProject, RiverPark Ventures and Listen – Beauty Independent
Topicals raised an undisclosed amount in strategic Investment from WNBA star Angel Reese and Nigerian music star Rema. The Black-led skincare brand receives investment from WNBA star Angel Reese and Nigerian music star Rema. The Business of Fashion
💸M&A💸
The Marzetti Company acquires Bachan’s, the Japanese Barbecue Sauce brand, for $400M. Early investors in Bachan’s include Prelude Growth Partners and Sonoma Brands. BusinessWire
Authentic Brands Group has acquired a majority stake in Guess’ intellectual property in a deal valued at about $1.4 billion including debt, paying $16.75 per share. Existing shareholders, including co-founders Maurice and Paul Marciano, retain a 49% stake in the IP, while current management now owns 100% of the operating company and will continue running the business from Switzerland. With the deal completed, Guess has officially gone private. RD
L Catterton has taken a significant minority stake in Paris-based fragrance house EX Nihilo. Founded in 2013, the niche brand is known for blending modern aesthetics with traditional French craftsmanship, with cult favorites like Fleur Narcotique and Blue Talisman driving its rapid growth in luxury fragrance. BND
Anta Sports is acquiring a 29% stake in Puma for €1.5 billion ($1.8B), becoming the sneaker brand’s largest shareholder. The deal, expected to close by year-end, does not include a full takeover, though Anta may deepen the partnership in the future. RD
Prime Matter Labs, backed by Monogram Capital, has acquired struggling makeup contract manufacturer Mana Products, ending a period of furloughs and operational shutdowns for the company. BI
WHP Global is paying $300 million in cash for a 50% controlling stake in Lands’ End through a new joint venture. The deal transfers Lands’ End’s intellectual property and licensing business to WHP, while the apparel brand will continue running its direct-to-consumer and B2B operations. Lands’ End plans to use the proceeds to pay off about $234 million in debt and for general corporate purposes, including annual royalty payments starting at $50 million in the first year. RD
Saltaire Brewery’s owner has acquired the assets of UK-based Keystone Brewing Group following Keystone’s move to appoint administrators in November. JD
Puratos has acquired US-based Vör Foods, a specialist in clean label nut pastes and fillings, to strengthen its presence in the fast-growing sweet goods segment and expand its US manufacturing footprint. The deal enhances Puratos’ ability to offer traceable, high-quality pistachio, hazelnut, almond and other nut-based ingredients to industrial and artisanal bakers. FBM
After acquiring Skyn Iceland in October 2024, Amerikas has revamped the brand with updated packaging, formulas, and brand architecture, emphasizing its Icelandic inspiration and science-driven approach to appeal to U.S. consumers. BI
Poland’s United Beverages Group has acquired the JJ gin-and-vodka brand from UK-based Halewood Artisanal Spirits, with Halewood remaining the exclusive UK distributor as part of its ongoing brand portfolio refinement. JD
Next has acquired shoe retailer Russell & Bromley in a pre-pack administration deal for £2.5 million, plus £1.3 million for part of its stock, leading to the closure of 33 stores and nine concessions, pending court approval. RG
Inkbox co-founders Tyler and Braden Handley are exploring a buyback of the temporary tattoo brand as BIC plans to shutter it and dismantle its Skin Creative division, four years after acquiring Inkbox for $65 million. BI
HEINEKEN is acquiring FIFCO’s beverage and retail businesses for an undisclosed amount. Some of FIFCO’s brands include Magic Hat, Labatt USA, and Lipton Hard Iced Tea – The Heineken Company
Kimberly-Clark is acquiring Kenvue (Tylenol, Band-Aid maker) for $48.7B. to create consumer health and wellness powerhouse. NJBiz
Rich’s is acquiring pizza establishment Uno Foods for an undisclosed amount. Food Manufacturing
Western Smokehouse Partners is acquiring Junior’s Smokehouse for an undisclosed amount. Better-for-you meat snack maker Western Smokehouse Partners acquires Texas-based hand-crafted jerky producer Junior’s Smokehouse. Nosh
Clorox is acquiring GOJO, makers of Purell hand sanitizer, for $1.9B in order to expand B2C reach. LinkedIn
Suave Brands + Elida Beauty merge to create Evermark, a new global personal care platform for. Some of their brands include Chapstick, Q-tips, and Ponds – Cosmetics Business
MPearlRock is acquiring The Good Crisp Company, the BFY chip company, for an undisclosed amount. Gibson Dunn
Rich Products is acquiring Great Kitchens Food Co., the largest manufacturer of Take & Bake pizzas, for an undisclosed amount. Food Business Network
Tuyyo Foods has acquired Nemi, Tuyyo, Todo Verde for an undisclosed amount. Female-led CPG brands Nemi (cactus snacks), Todo Verde (seasoning blends), and Tuyyo (powdered beverages) merge under Tuyyo Foods name and will be based out of Los Angeles. Nosh
SPINS is acquiring MikMak for an undisclosed amount. SPINS acquires commerce intelligence and omnichannel orchestration platform MikMak to enable measurement across physical, digital, and agentic shelves. BevNet
↪️Rebrands & Relaunches↩️
Ulta Beauty is rebranding its Wellness Shop into the immersive, education-focused Wellness by Ulta Beauty, launching boutiques in three stores on Jan. 26—Columbus, Ohio; Short Pump, Va.; and Peabody, Mass.—with a Naperville, Ill. location opening in April. RTP
🚀Debuts, Distribution & Expansion🚀
Stripes Beauty has launched at Ulta Beauty, expanding nationwide through select Wellness by Ulta boutiques and online. The partnership strengthens Ulta’s focus on wellness while giving Stripes a larger platform for its pro-ageing products designed for women navigating midlife, menopause, and healthy ageing. BND
Ralph Lauren has opened a new 5,829-square-foot store and its first-ever Ralph’s Coffee in California at Fashion Island in Newport Beach. The location features collections including Polo Ralph Lauren, Double RL, women’s Collection, men’s Purple Label and curated accessories, marking the brand’s continued West Coast expansion. WWD
Uniqlo will open its first Miami stores this fall and expand in Texas, entering Austin for the first time and adding a Houston Galleria location, reflecting strong demand since its 2024 Texas launch. RTP
Moleskine has opened a 280-square-foot neighborhood concept store on New York’s Upper East Side, marking a strategic shift in its U.S. retail approach. The boutique is the brand’s sixth in Manhattan and part of plans to expand and renovate additional U.S. locations this year. RD
Men’s grooming brand Viking Revolution, projected to generate $59 million this year, is making its first national mass-market retail debut by entering Walmart after nearly a decade online. BI
De Beers London unveiled its largest store yet, a 5,000-square-foot flagship on Paris’s Rue de la Paix, marking the culmination of its 2025 rebranding. The location, in a renovated 19th-century Haussmann-style building across from Cartier, features the jeweler’s new moniker, tagline, and campaign. WWD
Aldi plans to open over 180 U.S. stores in 2026, including its first in Maine and 10 in Phoenix, bringing its total to nearly 2,800, with further expansion toward 3,200 stores by 2028. RTP
Quince has officially expanded into Canada with the launch of a dedicated website, marking its first international move after a soft launch in November. Canadian customers can shop a curated selection of apparel, accessories, and home essentials online and via the Apple App Store, with Google Play access coming soon. RD
Tractor Supply opened its 2,400th store in Aiken, S.C., kicking off 2026 as part of its plan to add about 100 new stores this year, celebrating with community events and a $2,400 donation for equine rescue. RTP
Target expands beauty assortment with 60 new brands as it winds down Ulta partnership. Retail Dive
Starbucks plans to open hundreds of new stores and add seating capacity at thousands more. Food Manufacturing
Ethique expands to Target. Bansk Group-owned solid haircare brand reenters Target with new look and efficacy focus. Beauty Independent
Dollar General extends reach of rural same-day delivery service to underserved communities. Retail Dive
The Zero Proof lands in Target with a national partnership. BevNet
Odyssey Functional Energy, the functional energy drink brand, partners with Canteen to expand into 8,100 micro-markets nationwide. BevNet
🚀 Product Launches
Mid-Day Squares launched their latest product – No Bread PBJ – that features no chocolate in the hopes of expanding beyond its core chocolate functional snack bars. Nosh
Crocs launched Wonderfully Unordinary Platform, a new global brand narrative with anthem film emphasizing self-expression over algorithmic sameness. PR News Wire
Grüns launched Ü Snacks Platform. Grüns founder Chad Janis launches Ü Snacks, a broader platform encompassing functional gummy brands including Nütrops, Immün, Jüced and additional innovations. Nosh
Lucky Energy launched Energy Gummies as it platforms the brand into new use occasions, formats and value propositions. Nosh
Lundberg Farms launched Sweet Cakes. The regenerative rice brand Lundberg Farms expands into crunchy snackable sweets with new dessert-inspired line Sweet Cakes. Nosh
🪇Collabs🪇
CJ Olive Young, South Korea’s largest beauty and wellness retailer, is partnering with Sephora to expand K-beauty globally. The collaboration will introduce dedicated K-beauty zones in Sephora stores and online, curated by Olive Young using its expertise in trend-driven selection, brand incubation and data-led merchandising — a model that has shaped Korea’s beauty market for over 20 years. BND RD
H&M has partnered with e.l.f. Cosmetics on a limited-edition eau de parfum collection, marking H&M’s first beauty collaboration and e.l.f.’s fragrance debut as well as its first global fashion partnership. BND
🔻Closures, Bankruptcies & Downsizes🔻
Pat McGrath Cosmetics has filed for Chapter 11 bankruptcy, citing an unsustainable capital structure, legacy liabilities, and liquidity constraints, with estimated liabilities between $50 million and $100 million. Court filings also state that a lender began auctioning the brand without founder and CEO Patricia McGrath’s consent, despite ongoing consumer demand. RD
Amazon will close all Amazon Fresh and Amazon Go stores, shifting its physical retail focus to Whole Foods Market. Some locations will convert to Whole Foods as the company plans to open 100+ new stores in the coming years, while expanding its same-day grocery delivery service in 2026. RD
Macy’s is laying off 993 employees as it shuts down its two Cheshire, Connecticut fulfillment center locations, with job eliminations occurring in phases starting March 14. RD
Women’s retailer Francesca’s is reportedly preparing to close all stores and liquidate its inventory, with staff recently let go and liquidation expected to begin around Jan. 16, 2026. RTP
Nike is laying off about 775 employees in Tennessee and Mississippi as it consolidates its U.S. distribution centers. The move aims to streamline operations, boost automation and efficiency, and support its broader turnaround plan to improve long-term profitability and margins. RD
American Eagle Outfitters is closing its Quiet Logistics business, ending operations at its Boston and Dallas fulfillment centers. The third-party logistics provider, acquired in 2021 alongside AirTerra, struggled to attract enough business and will discontinue services in the coming months. RD
Home Depot has cut about 800 jobs at its Atlanta store support center, primarily impacting its technology teams, as the retailer also mandates a full-time, five-days-a-week return to office for corporate employees. RD
Cover FX has announced it is closing after more than 25 years, citing mounting industry pressures including tariffs and a challenging global market. Founded in 1999 by chemist Victor Casale, the brand was created to provide makeup solutions for sensitive, reactive, and post-procedure skin. BND
Pinterest is cutting less than 15% of its workforce and reducing office space as part of a global restructuring to reallocate resources toward AI-focused roles and products. The move, expected to cost $35 million to $45 million, aims to support AI-driven capabilities and a revamped go-to-market strategy, with completion targeted by Sept. 30. RD
GameStop plans to close 475 stores across 43 states by Jan. 31, 2026, significantly expanding its previously reported store reduction of up to 200 locations. RTP
Allbirds will close all of its U.S. full-price stores by the end of February, leaving just two outlet locations domestically and two full-price stores in London. The company, which once operated more than 60 stores at its peak, is shifting focus to e-commerce, wholesale partnerships and international distributors to improve reach and efficiency. RD
AS Beauty has closed Cover FX and Mally Beauty, withdrawing from two legacy makeup brands amid industry competition and rising costs. BI
Amazon is cutting 16,000 more jobs as part of a broader downsizing effort first announced in October, bringing total planned reductions to 30,000 roles. The company says the move is aimed at streamlining operations and reducing bureaucracy, though it continues to hire and invest in select areas. RD
Lactalis will close its South Brisbane milk plant in July 2026, impacting 202 employees and shifting production to its upgraded Nambour facility, as part of efforts to improve efficiency and modernise its Australian operations. FBM
💻Consumer Software💻
Mia Labs, Inc., the company behind Mia, the AI-powered conversational platform for automotive dealerships, today announced it has raised a $20 million Series A, bringing its total capital raised to $29 million. The round was led by Permanent Capital Ventures, with participation from Norwest alongside earlier investors Eniac Ventures, Vine Ventures, Analog Ventures (formerly J Ventures), and Logos Fund, as well as strategic automotive investors and industry leaders, including Yossi Levi of Car Dealership Guy. PRN
Inference startup Inferact, built on the open-source vLLM project, has raised $150 million in seed funding at an $800 million valuation to commercialize its technology, in a round co-led by Andreessen Horowitz and Lightspeed Venture Partners. TC
San Francisco–based startup GIGR (Playad.ai) raised $5.4M in pre-seed funding, led by BRV Capital and Mirae Asset, to develop AI marketing agents that streamline ad creation, testing, and optimization. PRN
Lightning AI and Voltage Park have merged to create an AI-focused cloud platform combining software and on-demand GPU infrastructure, enabling developers and enterprises to build, train, deploy, and run AI models all in one place. BW
Mews has raised $300 million in a Series D round led by EQT Growth, valuing the hospitality operating system at $2.5 billion, reinforcing its position as a leading provider for hotels worldwide after a year of 55% SaaS gross profit growth. PRN
Phia, the AI personal shopping agent, raised $35M in Series A led by Notable Capital, with participation from Khosla Ventures and returning investor Kleiner Perkins at $185M valuation. Business Insider
Zenblen, a tech-enabled kiosk for healthy smoothies, raised $2.5M from undisclosed investors – Silverwood Partners
Commerce Tech
Swap Commerce, the AI-powered platform that helps brands build web storefronts and handle cross-border transactions, inventory management, and returns, raised $100M in Series C from DST Global and Iconiq just six months after $40M Series B. Tech Crunch
Yozo.ai raised $1.7M in Pre-Seed. AI-native revenue engine for e-commerce merchants. Wamda
Consio AI raised $3.3M in Seed. The voice platform automates phone-based engagements for e-commerce brands. The SaaS News
Yellow Wood Partners has merged Suave and Elida Beauty to create Evermark, a new $1.9 billion global beauty platform. BI
Thanks for reading!