The Consumer VC Roundup #105
The Latest News For the Emerging Consumer Ecosystem
This Past Week In Consumer
🧃Consumer Brands👚
💰Fundraises💰
London-based biotech company Modern Synthesis has raised $5.5 million in an oversubscribed round led by Extantia Capital, with backing from Artesian and Collaborative Fund. The funding will help scale production at its pilot facility to meet fashion brands' growing demand for sustainable biomaterials. Vegconomist
💸M&A💸
UK-based Keystone Brewing Group has acquired North Brewing, which was previously rescued from administration by Kirkstall Brewery owner Steve Holt in January 2023. JustDrinks
Beyond Inc. has acquired the global rights to BuyBuy Baby for $5 million, reuniting the brand with its former parent, Bed Bath & Beyond. The deal includes potential stand-alone store reopenings and revenue-sharing agreements starting in 2026. RetailDive
Walmart has acquired the Monroeville Mall near Pittsburgh for $34 million, marking its first major shopping mall purchase. The retailer is partnering with Cypress Equities to explore redevelopment plans for the 1.2 million-square-foot property. RetailDive
Tempur Sealy has completed its $5 billion acquisition of Mattress Firm, with the transaction funded by cash, borrowings, and shares. The company will rebrand as Somnigroup International on February 18 and operate Tempur Sealy, Dreams, and Mattress Firm as separate business units. Additionally, Tempur Sealy plans to divest 73 Mattress Firm stores and the Sleep Outfitters subsidiary to address antitrust concerns. RetailDive
Ball, the packaging company, has acquired Florida Can Manufacturing for $160 million, gaining a beverage can facility in Winter Haven, Florida. The deal is part of Ball’s strategy to expand its manufacturing presence in the Southeast and Northwest. In addition, the company plans to build a new two-line can plant in Oregon, aiming to better serve the Pacific Northwest market after closing a previous facility in the Seattle area. FoodDive
🚀Debuts, Distribution & Expansion🚀
Sommer Ray’s wellness gummy brand, Imaraïs Beauty, has launched nationwide at Target, marking a major distribution milestone. BeautyIndependent
Allbirds has officially released its zero-carbon "M0.0NSHOT" shoe to the public. The limited 500-unit run is available in select cities, including New York, London, Dubai, Seoul, and Tokyo, priced at $200 in unisex sizes. RetailDive
Janie and Jack has launched a third-party marketplace, expanding beyond children's apparel to categories like home furnishings, toys, and baby gear. The brand partnered with Mirakl to integrate third-party sellers into its e-commerce platform. RetailDive
🪇Collabs🪇
Mall owner Simon has partnered with Shopify and retail platform Leap to help e-commerce brands expand into brick-and-mortar retail. The collaboration offers digital brands solutions to quickly open stores in Simon’s properties and other locations. True Classic and Ring Concierge are among the first brands to participate. RTP
📰 Consumer News📰
President Trump has paused planned tariffs on Canada and Mexico after securing agreements on border security, though a 10% tariff on Chinese imports has been enacted, prompting Beijing to retaliate. While the threat of a trade war remains, Trump continues to push his "America First" agenda, using tariffs as leverage to influence immigration and trade policies. JustDrinks
China is imposing additional tariffs on certain U.S. imports starting Feb. 10 in response to Trump's trade measures. The tariffs include 15% on coal and LNG, 10% on crude oil, agricultural machinery, and some cars, along with new export controls on metals like tungsten and tellurium. RetailDive
💰Funds Raising Funds💰
Ingredion is investing over $100 million in its Indianapolis facility to enhance production capabilities and efficiency. The investment will support the company’s growth in texture-based ingredients and allow for more flexibility in adding new products to its portfolio. Additionally, the facility will undergo equipment modernization, which will boost operational efficiency and help reduce greenhouse gas emissions. FoodDive
🔻Closures & Bankruptcies🔻
United Spirits, the Indian arm of Diageo and maker of Black Dog whisky, will shut down its Hyderabad manufacturing unit in Nacharam, Telangana, as part of a multi-year supply chain agility program announced in January 2023. JustDrinks
Walmart is cutting some corporate jobs and closing its North Carolina office as part of a reshaping of its corporate office footprint. Employees in Hoboken and smaller offices are being asked to relocate to Arkansas or California. Walmart is also opening new office spaces in Sunnyvale, California, and Bellevue, Washington, while upgrading offices in Hoboken and New York City. RetailDive
Bargain Hunt, the Nashville-based discount retailer, has declared bankruptcy and will close all 92 of its stores across 10 states by the end of February. The company is holding going-out-of-business sales with discounts of up to 40% on apparel, toys, home décor, and more. RTP
Liberated Brands has filed for bankruptcy and begun closing sales at all 122 stores, managed by Gordon Brothers. The brands, including RVCA, Volcom, and Billabong, remain owned by Authentic Brands Group and will transition to new wholesale licensees in North America. RTP
Archer-Daniel-Midland (ADM) plans to cut up to 700 jobs and explore asset divestitures to address weaker demand in its nutrition segment and increased competition in the ingredients sector. The layoffs are expected to save up to $750 million over the next three to five years. FoodDive
💻Consumer Software💻
💰Fundraises💰
Wealthon, a Warsaw-based FinTech startup focused on digital financial solutions for SMEs, has secured €126.2 million in funding. The round includes a €116 million debt facility from Fortress Investment Group and €7 million in equity investment from 3TS Capital Partners and angel investors. The funding will support the development of Wealthon’s financial services ecosystem for small and medium-sized enterprises. EUStartups
Mobile Pathways, a leading tech nonprofit ensuring fair access to justice for immigrants, has raised $1 million to advance its AI-based technology platform Pathfinder. Supported by key partners like GitLab Foundation, Firedoll Foundation, AlleyCorp, and Fast Forward, this funding will transform the way immigration attorneys and advocates manage complex immigration cases. PRNewswire
Greyson Clothiers, a Detroit-based premium performance apparel brand, has successfully raised $20 million in a Series A strategic growth round. The funding was led by NewBound Ventures and Chris Koch, CEO of NewEra, with participation from Tom Nolan (CEO of Kendra Scott) and David Chu (Founder of Nautica). Both Nolan and Chu will join the board, along with Michael Hoffman of NewBound. PRNewswire
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