Tariffs ruled Unconstitutional; Once Upon a Farm Surges Post-IPO & More
Consumer VC Roundup #152 – Latest News in Emerging Consumer Brands, Tech & Commerce Enablement
Hey friends,
Hope you’re having a great start to the weekend. The BIG news is that Donald Trump’s emergency tariffs have been ruled illegal and unconstitutional by the Supreme Court in a 6-3 vote. This will, of course, have major implications across global trade, supply chains, and consumer product businesses. What happens to the $130 billion that’s already been collected since this policy went into effect?
📰 Consumer News 📰
Once Upon a Farm goes public at a $724M valuation, raising $198M in its IPO. The better-for-you kids’ nutrition brand could open a new exit lane for mission-driven CPG companies that have historically leaned on strategic acquirers. Worth watching how this performs in the aftermarket. Forbes
The stock’s IPO price was $18/share and is now trading at $24.05. If the momentum holds, are more consumer brands next in line to go public? Will this become a viable path to exit?
Etsy sells Depop to eBay for $1.2B. The move lets Etsy refocus on its core handmade marketplace while giving eBay a much-needed foothold with younger, fashion-forward consumers. A meaningful signal that the resale market remains hot — just not always with the original acquirer. BBC
McDonald’s is adding energy drinks and craft sodas to McCafe beverage assortment nationwide, a concept it tested through its CosMc’s spinoff. Fast food continues to blur the line with functional beverage. Restaurant Dive
🧃 Consumer 👚
💰 Fundraises 💰
Osmo raised $70M in Series B. The AI-powered scent digitization company is expanding its technology into beauty and fragrance. CEW
Pat McGrath Labs secured $30M in new financing from GDA Luma Capital to recapitalize the business. A new chapter for one of beauty’s most iconic brands. Retail Dive
Willie’s Remedy+ raised $15M to commercialize its hemp-derived THC drinks at retail. DigitalFoodLab
Green Rebel Foods raised $12.5M to scale its Asian-style plant-based alternatives across Southeast Asia. Protein Production
Throne Sport Coffee raised $10M in Series A. The Patrick Mahomes-backed functional coffee brand is launching DSD with Big Geyser in New York. BevNET
Just Ice Tea raised $9M in Series B, backed by Total Wine co-founder Robert Trone. Funds will support a 40% retail expansion. FoodBev
Epetōme secured a multi-million-pound investment led by Active Partners and Redrice Ventures. The gut health brand was founded by nutritionist Emily English. BeautyMatter
💸 M&A 💸
eBay acquires Depop from Etsy for $1.2B in cash. A landmark deal for the resale market — Etsy refocuses on its core, eBay gets a Gen Z fashion audience it’s been chasing for years. TechCrunch
Refresco is acquiring SunOpta for ~$1.1B ($6.50/share), taking the plant-based food and beverage producer private. A significant consolidation in co-manufacturing. ESM Magazine
Investindustrial acquires TreeHouse Foods for $2.9B, taking the largest U.S. private-label manufacturer private. A massive deal for the CPG private label space. FoodNavigator-USA
Beast Industries (MrBeast) acquires Step, the teen-focused banking app with over 7 million users. The creator economy continues to expand its financial services ambitions. TechCrunch
Essity completes acquisition of Edgewell’s Feminine Care business for $340M, picking up Carefree, Stayfree, and o.b. in North America. Essity
FabFitFun acquires Paya Health, the functional wellness and supplements brand. The subscription box giant continues building its multi-brand portfolio. BeautyMatter
Tastee Apple Inc. acquires Art of Sucre, adding gourmet cotton candy to its caramel apple business. Wholesome Goods
🚀 Debuts, Distribution & Expansion 🚀
Crocs plans to open 200–250 new international stores in 2026. Retail Dive
Dutch Bros expanded its CPG at-home product line to Amazon, Walmart, H-E-B, and Albertsons. PR Newswire
Lulus expanded from 60 stores to all Nordstrom locations nationwide. A big step in the DTC-to-wholesale playbook. Retail Dive
Instacart partnered with Lush to offer same-day delivery from 250 Lush stores. PR Newswire
South Forty is now in ~2,600 ALDI stores nationwide. Wholesome Goods
Nurri is launching its protein creamer exclusively at Walmart. Wholesome Goods
Helix Sleep launched a retail partnership with Urban Mattress, extending its DTC brand into physical retail. Bedtimes Magazine
Ernesta opened its sixth showroom, in Dallas. Retail Dive
🚀 Product Launches
Clarins entered the foundation category with its Double Serum Foundation — a major extension of its iconic skincare franchise into a new product type. WWD
Fly By Jing launched the first-ever Hot Pot Bomb, simplifying Sichuan-style hot pot for at-home cooks. FoodBevy
Topo Chico Hard Seltzer debuted new glass bottles and a stronger, Margarita-inspired flavor. Parade
🛍️ Retail, Commerce Tech & Supply Chain
Simile raised $100M in a Growth round led by Index Ventures. The AI platform predicts human behavior — with clear applications across retail and consumer. Lazarev Agency
Credit Key raised $90M in Growth capital from Barings to expand its B2B buy-now-pay-later platform. LA Times
GrubMarket raised $50M in Series H at a $4.5B valuation. The AI-powered food supply chain platform continues to scale. Davis Wright Tremaine
Made With Intent raised £2.4M in Seed. The UK-based ecommerce tech platform takes a ‘Moneyball approach’ to online retail. UK Tech News
🔻 Other Notable News 🔻
Kraft Heinz paused its planned business split and appointed Nicolas Amaya as its new President of North America. Progressive Grocer