Issue #12 | January 19, 2026
Proudly seasoned by Trophy Wife - The Official Finishing Salt of The Deeter Digest. Because you are the prize, and so is this salt.
🥄 FIRST BITE
The appetizer before we dive in
Welcome back to The Deeter Digest. This week was M&A mayhem, with $110M+ in deals; SpikedAde raised $10M to alcoholify sports drinks; and Beyond Meat pivoted to beverages (again). Plus, Tom Brady’s launching protein powder, Cheez-It went gluten-free, and New Primal is about to hit $100M by focusing on kids who won’t eat vegetables.
The message is clear: Category walls are crumbling. Everyone’s expanding into everyone else’s lane. Let’s feast on the chaos.
🍊 THE MAIN COURSE
This week’s biggest CPG moves
The Great CPG Land Grab
This week proved we’re in peak category convergence. NOBULL makes clothes but launched protein powder. Beyond Meat makes fake burgers but launched beverages. Prime makes energy drinks but launched protein shakes. Koia makes protein drinks but launched protein sodas.
The winners aren’t defending categories – they’re following customers wherever they go. NOBULL understands their audience wants performance nutrition, not just performance clothing. When Mike Repole (BodyArmor, Glaceau) and Tom Brady control your brand, you don’t stay in one lane.
SpikedAde’s Sports Drink Cocktail Thesis
Jason Cohen raised $10 million for SpikedAde, vodka-based RTDs that taste like sports drinks. Expanding from New Jersey to 15-30 markets by Q1’s end with operators from OWYN, Bai, and Diageo leading the charge.
This isn’t hard seltzer 2.0. This is betting on Gatorade nostalgia meeting adult consumption occasions. When you can make sports drinks, people drink at bars instead of gyms, you’ve found legitimate white space. The RTD cocktail category keeps finding new angles.
Beyond Meat’s Beverage Hail Mary
Beyond launched Beyond Immerse, a plant-based protein beverage with fiber, antioxidants, and electrolytes. Only available through their DTC test kitchen, which tells you everything about confidence levels.
The move makes sense strategically. Core business struggling, retail relationships strained, plant-based meat category stalled. Beverages offer better margins, easier innovation, and a chance to rebuild brand equity. Whether consumers want protein drinks from a fake meat company remains the billion-dollar question.
💰 THE FUNDING FRENZY
Big checks being written
Bansk Group’s $1.45B Fund II
The consumer investment firm led by former JAB Chairman Bart Becht officially closed with $5B now under management. Portfolio includes BYOMA, Amika, Eva NYC, No Man’s Land Beef Jerky, and PetIQ.
When JAB alumni raise billion-dollar funds, the entire CPG ecosystem pays attention. Bansk’s betting big on beauty and wellness convergence while traditional CPG gets disrupted from every angle.
SEMCAP’s $125M Food Fund
The firm behind Good Culture, Aloha, and Purely Elizabeth secured $125 million for their debut Food & Nutrition fund. After Good Culture’s $500M+ exit to L Catterton last week, SEMCAP’s track record speaks volumes.
This is smart money following smart money. When a fund that literally just minted a unicorn raises another fund, you know food tech investing isn’t cooling off. SEMCAP’s doubling down on the same playbook: find broken categories, back great operators, scale through superior execution.
International Expansion Capital
Gutology raised £1.8M from Active Partners and Mercia Ventures for microbiome-friendly oral care. Wild Society Nutrition (founded by former UFC champ TJ Dillashaw) raised $530K+ according to SEC filings.
The wellness economy is global, and investors are backing expansion plays across every geography and category vertical.
🤝 MERGER MANIA
Everyone’s buying everyone
The Kroger Connection
MPearlRock (MidOcean Partners + Kroger partnership) is acquiring The Good Crisp Company for undisclosed sum. Matt Parry’s better-for-you chip brand retails at 20,000+ doors across U.S., Canada, Australia, and UK.
When grocery giants partner with private equity to acquire brands already on their shelves, you know retail consolidation is accelerating. Kroger’s essentially acquiring customer data and margin control simultaneously.
Platform Building Continues
Todo Verde, Nemi Snacks, and TUYYO are merging to form a Latina-founded food & beverage platform. Chef-crafted seasonings, Mexican-inspired snacks, and agua fresca drink mixes under one roof.
Meanwhile, Explorer Cold Brew acquired Savorista (decaf/half-caf specialist) in their first acquisition. Founder Cason Crane teased more deals coming as Explorer builds a coffee platform.
Distressed Asset Plays
B&G Foods is paying $110M cash for Kitchen Basics and College Inn from Del Monte’s bankruptcy proceedings. Bone broth and cooking stocks at distressed valuations.
Juggernaut Capital Partners sold GoRaw to Indian family office USK Capital after more than doubling revenue since 2017. When private equity exits to family offices, it signals category maturation.
🏪 DISTRIBUTION DOMINATION
Everyone’s everywhere
AG1’s Specialty Retail Victory
After conquering Costco in May, the premium greens powder launched nationwide at 640+ Vitamin Shoppe locations. From DTC darling to mass market dominance in record time.
This is textbook channel progression. Build brand equity through DTC, prove velocity at Costco, expand through specialty, dominate grocery. AG1’s showing how premium supplements scale when you nail each channel sequentially.
Target’s Premium Food Acceleration
Misfits snacks landed 1,900 Target doors. ButcherBox hit 1,600+ locations with five SKUs. FitJoy launched nine products nationwide. Target’s doubled down on premium food brands, proving velocity beats margin in today’s retail environment.
Specialty Retail Strategic Moves
Arrae launched at Ulta Beauty online and in-store. Athletic Brewing hit American Airlines flights. When beauty retailers embrace functional supplements and airlines stock NA beer, mainstream acceptance follows.
Regional Power Players
Grüns hit Hy-Vee, H-E-B, and Wegmans simultaneously. SMÁLÀ Sauce launched at H-E-B. B.T.R. Nation went storewide at Whole Foods Market. Regional expansion remains the fastest path to national velocity.
🆕 PRODUCT LAUNCHES & PIVOTS
This week’s innovation circus
The Protein Evolution
Koia launched protein sodas with 10g protein and 4g fiber. Prime dropped Ultra-Filtered Protein Shakes with 32g protein. Clear protein, protein sodas, protein everything – the category’s having an identity crisis and consumers are loving it.
Frank launched savory protein bars in the UK (Rosemary Sea Salt, Chili Lime). Even snack bars need protein now.
Celebrity Partnerships Scale
Momentous announced a multi-year deal with Arnold Schwarzenegger, launching The Arnold Stack (protein, creatine, vitamin D3). When supplement brands land Hollywood legends, mainstream credibility follows.
Guillermo Rodriguez (Jimmy Kimmel’s sidekick) teamed with Ithaca Hummus founder Chris Kirby for Guillermo’s Salsa, exclusive to Northeast Costcos. Celebrity food brands work when authenticity meets distribution power.
Legacy Innovation
Cheez-It launched their first-ever gluten-free cracker, hitting shelves in February. When 70-year-old snack brands embrace dietary restrictions, it signals mainstream acceptance of niche becoming normal.
Horizon Organic launched clean creamers with only four ingredients. Lifeway Foods dropped Probiotic Kefir Butters in 8oz tubs. Even legacy dairy brands are chasing clean label premiumization.
Functional Everything
Joyburst is launching Creatine Soda in May with 2g creatine per can. Sleep or Die launched dissolvable sleep strips for people who forget supplements until bedtime.
LesserEvil and Primal Kitchen collaborated on buffalo wing popcorn. When popcorn needs sauce partnerships to stand out, innovation desperation is real.
Beauty Chaos
E.l.f. Cosmetics and Liquid Death collaborated again on “Lip Embalms.” Personal Day (Lili Reinhart’s skincare brand) hired Amanda Domaleczny as CEO after she scaled Lived Tinted, Too Faced, and TULA.
California Naturals expanded into body lotions. Elm Biosciences unveiled A3O Elemental Night Cream. Beauty brands are expanding faster than CPG founders can track categories.
📊 THE DATA DIGEST
Numbers that actually matter
New Primal’s $100M Niche Domination
Jason Burke’s company is set to eclipse $100 million in annual sales in 2026. The secret weapon? Snack Mates line targeting families and kids, growing at 92% CAGR while broader meat stick category grows steadily.
This is category disruption through segmentation. Instead of competing in crowded adult meat stick space, New Primal found underserved families. They added Aldi and Sam’s Club this week. When you own a niche, expansion accelerates exponentially. Backed by Manna Tree, which just exited Good Culture for $500M+.
Gratsi’s Boxed Wine Breakthrough
The
brand finished 2025 as America’s fastest-growing boxed wine, selling 350,000 nine-liter cases. Expanding into new markets in 2026 as premium boxed wine sheds stigma.
When quality meets convenience at scale, traditional categories get disrupted. Gratsi’s proving packaging innovation plus better liquid transforms established categories.
Numerator’s Growth Leaders
The research firm released fastest-growing brands of 2025. Familiar names dominated, but surprises like Amos Sweets and Drizzilicious made the list. Apparently Drizzilicious is “doing alarming numbers at Target.”
When candy brands you’ve never heard of crack growth lists, it means distribution velocity can overcome awareness gaps. Target’s algorithm-driven buying creates overnight winners.
🌍 INTERNATIONAL INTEL
Global moves worth watching
Neutonic launched at 500 Morrisons locations in the UK. Frank debuted savory protein bars across Britain. TRIP secured TTV investment after £40M round at £300M valuation.
The wellness economy is borderless. Innovation in London influences Los Angeles. British functional foods become American unicorns. Global expansion isn’t optional anymore – it’s inevitable.
🔥 THE HOT TAKE
My unfiltered opinion on this week’s madness
We’re witnessing the death of category purity, and honestly? Good riddance.
NOBULL makes clothes and protein powder. Beyond Meat makes fake burgers and real beverages. Prime makes energy drinks and protein shakes. Everyone’s expanding into everyone else’s territory because consumer behavior doesn’t respect arbitrary boundaries.
People don’t think “I need a protein supplement.” They think “I want to hit my protein goals.” Whether that comes from powder, soda, bars, or jam doesn’t matter to them.
The brands still defending single categories are going to get steamrolled by platforms that meet customers wherever they are. Your job isn’t to own a category. Your job is to own a customer need across every relevant moment.
This week proved that successful expansion isn’t about finding new customers – it’s about serving existing customers better. New Primal didn’t create kids’ snacks; they made meat sticks kids actually want. AG1 didn’t invent greens powders; they made them premium and accessible.
The opportunity isn’t in white space. It’s in serving your core customer across every moment they might need you.
Build customer companies, not product companies. Then follow them wherever they want you to go.
🎙️ COMING TUESDAY
Unpackaged Goods Episode 13
Breaking down the category convergence economy, why Tom Brady’s protein powder makes perfect sense, and whether Beyond Meat can beverage their way out of trouble. Plus: The New Primal playbook for niche domination.
🥫 ONE MORE THING...
Before you close this tab
Cove Soda just hired three beverage industry veterans: Bryan Crowley (ex-G FUEL CEO) as CEO, Craig Olikiewicz (ex-Nutrabolt) as CCO, and Joe Lee (ex-Liquid Death COO) as COO. When functional soda brands recruit Liquid Death’s operating team, the beverage wars are about to get interesting.
Also worth noting: Motif launched naturally flavored syrups for coffee with flavors like Cinnamon Babka and Pistachio. Founded by Michael Zabar, proving coffee innovation still has room to run.
Until next Sunday, Jonathan Deeter Your CPG-Obsessed Friend
P.S. Spotted Arnold Schwarzenegger’s face on Momentous protein at my gym yesterday. When the Terminator endorses your creatine, you’ve officially made it in wellness.
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