Kamaal Jarrett

Constellation Brands Inc. saw its stock climb during premarket trading on Thursday following an upward revision of its adjusted fiscal 2025 profit forecast, surpassing analyst predictions. The company also reported a robust fourth-quarter profit, driven by the stronger-than-anticipated performance of its beer division. CEO Bill Newlands highlighted the beer business's consistent volume growth over 56 quarters, coupled with impressive margins, although wine and spirits sales experienced a decline. https://lnkd.in/ggNU_G9r Constellation Brands Bill Newlands Branded Hospitality Ventures #Technology #Business #Innovation #AI #investing #venturecapital MarketWatch

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Keurig Dr Pepper to acquire GHOST lifestyle for $1.6 BILLION 🤑 Ghost sales have quadrupled over the last 3 years after launching a joint venture with ZX ventures (Anheuser Busch) to launch the brand into energy in 2020. Let's break down the deal👇👇 1/ First, a brief history on GHOST Founded in 2016 by Dan Lourenco & Ryan Hughes & based in Chicago (shoutout!), GHOST was the original ‘label transparency’ pioneer that differentiated it. I think of the brand as somewhere between gym shark & liquid death. GHOST did not raise much money until 2020 when it launched a joint venture with ZX ventures (AB-Inbev). The partnership with AB was a joint venture, and purposeful to launch GHOST into the energy category. Unclear the valuation at that point but my checks say 10 figures. 2/ Deal Structure There are two bites here. First, KDP will buy 60% for $990m in cash - a $1.6B valuation / 3x FY24 sales In the second part of the transaction, KDP will buy the remaining 40% in 2028 at a valuation that has already been decided depending on 2027 financials 3/ Comps Valuation - this is the largest private bev M&A in recent history. I've been tracking headline M&A in a database since 1/1/2023, and this one dwarfs the rest in beverage: 👻 Ghost - $1.6B ☕ La Colombe - $900m ⚡ Bang Energy - $362m 💪 OWYN - $280m Revenue - Ghost is the most scaled private & independent asset in energy outisde Red Bull. KDP told us the valuation was 3x FY24 sales, imputing ghost has $530m. I describe a 3x sales multiple in the category as 'good not great' as there are a handful of recent precedent transactions that have a higher multiple: 🥜 Nutpods - 4x 🏺 Humm Kombucha - 3.75x 🌡 Celsius currently trading around 4.4x The 'good' sales multiple leads me to believe that Ghost also commanded a 'good' ebitda multiple - which would be around 13x in my comp set. This would imply that Ghost had very strong EBITDA margins in excess of 20% after KDP accounted for synergies/addbacks 4/ Time to Value (IRR) 1 thing that has stood out recently is the age of the businesses being acquired. GHOST was founded in 2016, 8 years ago - this is an outlier for a transaction of this size. HUGE time to value. OWYN was around the same age and was acquired for $280m - a huge success in its own right that gives you some reference for just how well Ghost has done. 🛀 Aesop - $2.5B / 36 yrs 🚬 NJOY - $2.7B / 17 yrs ☕ La Colombe - $900m / 29 yrs -- I'll be going deeper into the deal & providing the data/comps I used to make this analysis, + my notes from the earnings call in my newsletter going out tm Yes I woke up to listen to the earnings call, so please subscribe to my newsletter at the link pinned to my profile 🙂

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Check out this insightful interview with Richard Schenkel in the latest Food Service Director Online podcast episode. A quick and interesting listen!

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The moderation trend is continuing to accelerate! The NA segment of on-premise beer sales in the U.S. jumped 33.7% over the last 52 weeks with broad-based gains in all 50 states! 💪 📈 🍻 At Partake Brewing we are seeing on-premise operators move from offering 1 NA beer option to now several with macros and craft represented in addition to house mocktails. 🍺 🍷 🍹 This is an exciting time for the non-drinker and moderator alike! Gone are the days of water, juice, milk, and soda as the non-alcoholic options. 🤩 https://lnkd.in/gibbdbPB

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As someone deeply immersed in the CPG industry for nearly two decades, I’ve seen firsthand the challenges that come with managing data and driving growth. We’ve taken those years of learning and closely observed the solutions currently in the market as we’ve been building out the subscription offering of Pitchable – our game-changing software tailor-made for CPG operators:  🔍 Data Synthesis: Pitchable seamlessly consolidates data from industry giants like UNFI, KeHE, Whole Foods, and SPINS, providing you with a unified platform for comprehensive insights.  📊 Actionable Dashboards: Developed by CPG operators, for CPG operators, our intuitive dashboards simplify complex data, empowering you to make informed decisions effortlessly.  🚀 Powerful Tracking Capabilities: From promo tracking to sales forecasting, Pitchable equips you with the tools needed to optimize every aspect of your business – all in one place. ✅  Optimized Inventory Management: Align purchase orders with actual sell-through to optimize inventory levels.  ✅ Seamless New Item Roll-outs: Monitor new item roll-outs to ensure flawless execution every time.  ✅ Unlock Volume Opportunities: Identify volume opportunities with independents and alternate channel customers effortlessly. Check out Pitchable – developed by CPG operators, for CPG operators. DM me to get a demo on the books. Here is the link for booking a demo with Kevin Mannering:  https://lnkd.in/gq4wMxhj Pitchable Demo

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Ending the week high on optimistic skepticism for the better-for-you CPG landscape. Big acquisition news leaves me optimistic that more money will start to flow back into BFY CPG companies, helping to further drive impact and food systems change. Anytime there is a big acquisition, investor FOMO reaches an all-time high. Skeptical though since the reality is that most of the money that will flow back into CPG because of this will come with similar exit and growth expectations. I truly believe that if we are going to make lasting, meaningful changes within our food system, then we need more independent companies invested in impact-centered long-term growth, and we need more investors willing to invest in companies like these. Creating further consolidation within a food system that has so much already is not the path to meaningful change. Creating a system in which Big Food gets bigger and uses acquisition to bandage over their core business that is destroying consumer health and planetary health is not the path to meaningful change. Creating short-term wins for shareholders while ignoring the impact that independent, evergreen, mission-driven companies can have on the world as they scale is not the path to meaningful change.   I get it. There’s an allure to big numbers– big returns. Money has allure, it has status, it has power. We love money. We praise it. We’re driven by it. But all of that money, status, power, ego, and praise really arent going to mean much if we continue to invest in short-term gains and shareholder value at the expense of investing in a better future. There are many ways to invest in mission-driven companies in which return is not predicated on an exit and companies can stay truly independent and impact-focused to drive long-term change. For the sake of our food future– we need more of those investors. Always happy to chat about those investment models for those curious.

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Standing out in today’s crowded CPG market? It’s tough. Here are my top 5 tips to shine: 1. Know Your UVP ↳ Define what sets you apart. Example: Dollar Shave Club – “High-quality razors delivered for a low price.” 2. Leverage Consumer Insights ↳ Use data to understand your audience. Example: PepsiCo’s success with Lay’s “Do Us a Flavor” campaign was driven by consumer feedback, resulting in new, crowd-sourced chip flavors. 3. Focus on Quality & Consistency ↳ Build trust through quality. Example: Apple’s unwavering commitment to product quality and user experience has built a fiercely loyal customer base. 4. Innovate Continuously ↳Innovation isn’t just about new products; it’s about continuously improving and adapting your existing ones. Example: Coca-Cola’s introduction of Coca-Cola Zero Sugar and constant recipe tweaking keeps the brand relevant and aligned with health trends. 5. Build Authentic Relationships ↳ Engage genuinely with your audience. Example: Jake Karls and the team at Mid-Day Squares have created a strong, authentic connection with its audience, reinforcing brand loyalty. Competing isn’t just about being different; it’s about being better. What strategies help you stand out? Share below! #CPG #MarketingStrategy #Innovation #ConsumerInsights #QualityControl #Authenticity

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"I haven't seen you this excited since Wander!!" 👆 It's true - that's how PUMPED I am...and think you will be too! Since joining the CPG industry, two topics come up more than any other: 1) driving trial and sampling AND 2) in-store velocity Makes sense as these are critical to the success of any CPG brand. The challenge is the levers to accomplish these are often very expensive and/or logistically challenging. I've long wondered: Is there an affordable, easy solution that addresses both? YES - now there is for brands big and small! Introducing Caddle's Market Share Accelerator solution: On a monthly basis, we engage 500+ consumers buying the competition or new to the category to go in-store to buy your products. AND 250+ will complete a 10-question post purchase survey AND 200+ will opt-in to your CRM. Both the survey and campaign results also have demographic & retailer filters for comprehensive analysis. Best part? All you need to provide is the UPC and the # of units - we take care of the rest all for an affordable, easy-to-quote price. This solution is perfect to: - drive sales at key retailers - support product launches with initial sales - increase awareness in new markets - gain insights on the consumer journey and preferences This fills in so many gaps and needs I had both for brands at The Think Tank (TTT) and when I was running Wander... it pack so much value into a single solution, I'm SO excited to start helping brands gain market share and grow faster! Campaigns will start on AUGUST 1 - perfect for a late summer push BUT 69% of consumers have started back-to-school shopping by the end of July AND over half of consumers are willing to switch brands, particularly for price. Makes it a great time to become part of the back-to-school routine and get a spot in the lunch box or after school snack! If in-store velocity and gaining new consumers are objectives for your brand... let's talk and get units moving! #shoppermarketing #brandmarketing #retailmarketing #marketingstrategy #sampling #promotions #startups #emergingbrands #foodandbeverage

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🗞️What’s new this week with CPG brands? Let’s celebrate the wins from emerging brands! Here are news stories you have to read: 🛒 𝐑𝐄𝐓𝐀𝐈𝐋 𝐑𝐎𝐋𝐋𝐎𝐔𝐓𝐒 🥭 Jack & Friends, founded by Jessica Kwong, is now available at the Whole Foods Daily Shop in Lennox Hill, NYC, with plans to expand to all Whole Foods Northeast locations next month. 🌾 Chasin' Dreams Farm, founded by Sydney Chasin, has launched its regeneratively farmed sorghum snacks at Whole Foods South Pacific. 🌿 SEEDLY, founded by Mateen Pouyafar, has launched its low-sugar Seed Bark in MOM's Organic Market, bringing three delicious seed-packed flavors to health-conscious shoppers. 🍛 Lentiful, founded by Ben Bacon, is now available in Wegmans Food Markets, 370 Walmart stores, and on Misfits Market, solidifying its presence in key grocery chains across the Northeast. 🌶️ Maazah, founded by Sheilla and Yasameen Sajady, MBA, is gearing up for major retail expansion with upcoming partnerships with Costco, Whole Foods, and Target. 🚀 𝐍𝐄𝐖 𝐏𝐑𝐎𝐃𝐔𝐂𝐓 𝐋𝐀𝐔𝐍𝐂𝐇𝐄𝐒 ☕ BAUER'S BREW, founded by Mike Bauer, has debuted COLDSPRESSO, crafted using a proprietary Cold'Xtraction process to elevate coffee from a commodity to an art form. 🤝 𝐁𝐑𝐀𝐍𝐃 𝐏𝐀𝐑𝐓𝐍𝐄𝐑𝐒𝐇𝐈𝐏𝐒 🧃 MIZO, co-founded by Holly Paul and Chris Tran, secured a Walmart Open Call Golden Ticket, paving the way for its hard juice pouches to hit Sam’s Club shelves nationwide in 2025. 💸 𝐈𝐍𝐕𝐄𝐒𝐓𝐌𝐄𝐍𝐓𝐒 𝐀𝐍𝐃 𝐀𝐂𝐐𝐔𝐈𝐒𝐈𝐓𝐈𝐎𝐍𝐒 🥣 Lil Bucks, founded by Emily Griffith, closed a $3M Series A round led by Proterra Investment Partners. 🎉 𝐍𝐄𝐖𝐒 𝐓𝐎 𝐂𝐄𝐋𝐄𝐁𝐑𝐀𝐓𝐄 🥄 Little Spoon, co-founded by Ben Lewis and Angela Vranich, became the first baby food company in the U.S. to test every batch for 500+ toxins, setting a new industry safety standard. 🌱 Wild Bay, founded by Sid Sharma, was honored to be featured at Ignite Capital's Baltimore showcase, spotlighting its current fundraising efforts. In collaboration with Amber Caro from Marketbite. Read more about each story here: https://lnkd.in/g4pbia-E Have your own news to share? Submit here: Foodbevy.com/submit #CPG #FoodandBeverage

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