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| | In this issue of Daily Briefing | - Simply Good Foods Sued Over Integration of OWYN Brand
- Fave’Wich Acquired By JSB Industries
- Mid-Day Squares Secures $8M in Debt Financing
- Errol Schweizer Dishes on NYC’s Public Grocery Playbook
- Taste Radio: A Front-Row Seat To One Of CPG’s Hottest Cities
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| 📰 First Up In Food | | | | Gummies might be the optimal format for pre-alcohol recovery products. They’re portable, more convenient to consume than a liquid or powder, and not as pharmaceutical as a pill. UNDO saw the need and launched its dihydromyricetin (DHM) laced product at a pool party at the Wynn Casino last October. With a $1M seed round investment, the brand is moving into nearly 900 Target stores as it strategizes around the social occasion. What’s New: There are a lot of alcohol recovery products these days. Many use DHM, derived from Japanese Raisin Tree roots, which has been used for years in Korea and Japan to help alleviate the negative effects of tying one on the night before. Behind The Strategy: Seizing on that identity, the brand launched in Las Vegas, establishing itself in casino resort c-stores and liquor stores, while branching into grocery stores like Raley’s earlier this summer. Initially, the brand was built as a DTC product that could build visibility and discovery on social platforms like TikTok. Yet, the early success in retail led the brand to prioritize growth in brick-and-mortar, especially in party cities like Miami or Nashville.
What They Said: “If we can prove ourselves [in Las Vegas] as an effective drinking hack, then that should translate well into other places.” - Kevin Mai, UNDO co-founder Read the full story on Nosh |
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| | ✨ The News You Need ✨ | | Less than two years after its acquisition of OWYN, Simply Good Foods Company is facing a proposed class action suit from investors alleging the integration of the brand has been “an abject failure.” Read the story. |
| | | Crustless sandwich brand Fave’Wich has been acquired by bakery business JSB Industries for an undisclosed amount. Read the story. |
| | | Mid-Day Squares has secured $8 million in debt financing to significantly expand production capacity ahead of major U.S. launches with Walmart and Costco. Read the story. |
| | | Errol Schweizer liked publicly owned grocery stores before it was cool. The industry veteran has been an advocate for tax dollar-backed grocery stores for nearly a decade, well before New York City mayor Zohran Mamdani made it a part of his winning platform. Now he's part of a team advising the mayor on how to make the idea a reality. Read the story. |
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| | 🎙️ Taste Radio: A Front-Row Seat To One Of CPG’s Hottest Cities | | Chicago’s CPG scene is thriving, and we got a taste of it firsthand. Fresh off our latest Taste Radio meetup, we spotlight the city’s vibrant brand community and sample a fascinating lineup of products discovered at the highly touted, unceremoniously shuttered and ultimately resurrected Foxtrot Market. Listen now. Also available on Spotify and Apple Podcasts. |
| | That's all for today's Daily Briefing: Lite Edition. We'll be back in your inbox tomorrow.
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