CPG Weekly Roundup: May 23 - May 29

This week in consumer packaged goods, we’re seeing bold moves across the board—from billion-dollar acquisitions and retail expansions to innovative product launches and strategic investments. Brands are not only adapting to current market demands but also setting the stage for future growth. Here’s a concise overview of the latest developments shaping the CPG landscape.

e.l.f. Beauty Acquires Hailey Bieber’s Rhode for $1 Billion

e.l.f. Beauty has announced the acquisition of Hailey Bieber’s skincare brand, Rhode, in a deal valued at $1 billion. The transaction comprises $600 million in cash, $200 million in newly issued e.l.f. Beauty shares, and a potential $200 million earn-out over three years based on future performance. Rhode, launched in June 2022, has gained popularity with younger consumers, offering skincare products and makeup items like blushes and lip products. Although it has been an online-only brand, Rhode plans to expand into Sephora stores in North America and the U.K. by the end of 2025. Hailey Bieber will continue to play a pivotal role as Chief Creative Officer, Head of Innovation, and Strategic Advisor for the unified companies.

Nuts.com Enters Retail with Pop & Sol Launch

Nuts.com, a direct-to-consumer snack company, is making its first foray into brick-and-mortar retail with the introduction of Pop & Sol, a new brand featuring a range of sweet and savory nut mixes. The products are now available at ShopRite, The Fresh Market, and Target, marking a significant shift from the company’s traditional online-only model.

IQBAR Partners with Chef Thomas Keller

IQBAR has announced its first-ever partnership with Michelin-starred chef Thomas Keller. The collaboration introduces two exclusive products: Salted Caramel Chip IQBAR protein bars and Yuzu Mango IQMIX hydration sticks. This partnership aims to blend culinary excellence with functional nutrition, offering consumers innovative and flavorful options.

Anheuser-Busch Launches Phorm Energy Drink

Anheuser-Busch has unveiled Phorm Energy, a new energy drink line developed in collaboration with 1st Phorm. The beverages are designed to provide energy, hydration, and focus, catering to consumers seeking functional performance drinks. Phorm Energy is debuting in four varieties: Blue Blitz, Orange Fury, Screamin’ Freedom, and Grape Smash, all available in 16-ounce cans.

One Trick Pony Reinvents Peanut Butter Packaging

One Trick Pony has introduced a redesigned jar for its natural peanut butter, addressing the common issue of oil separation. The new inverted jar system features an extra-thick, leak-proof lid that allows the product to be stored upside down, letting natural oil separation occur at what becomes the bottom of the container. This innovative packaging aims to enhance the consumer experience without altering the product’s natural composition. 

AMASS Botanics Team Launches Afterdream

The team behind AMASS Botanics has launched Afterdream, a new brand of microdosed, non-alcoholic cannabis beverages. Afterdream is designed to enhance perception and connection without dulling the senses, offering a sophisticated alternative to traditional alcoholic drinks. The beverages are available in convenient, ready-to-drink cans, catering to the modern, wellness-minded consumer.

Legendary Foods Introduces Protein Donuts

Legendary Foods is set to launch Protein Donuts, a new high-protein, zero-sugar snack available in four flavors. Each donut contains 10 grams of protein, with two per pack, totaling 20 grams. The donuts have a low net carbohydrate count of 4 to 5 grams and an impressive calorie amount well below the 200 mark, at 160 calories.

Kraft Heinz Announces $3 Billion Investment in U.S. Manufacturing

Kraft Heinz has confirmed plans to invest $3 billion in upgrading its U.S. manufacturing facilities, marking the company’s largest investment in its plants in a decade. The initiative aims to offset the impact of tariffs and weak consumer spending, as well as to increase efficiency at 30 of the company’s U.S. manufacturing facilities.

Hop Wtr Expands Product Line with Iced Tea & Lemonade

Hop Wtr, known for its hop-infused sparkling waters, is expanding its product line with the introduction of Iced Tea & Lemonade. This marks the brand’s first foray beyond hop water, aiming to reach more consumers seeking flavorful, alcohol-free options.

Wynk Launches Limited-Edition Mandarin Pomelo Flavor

Wynk has introduced Mandarin Pomelo, a limited-edition flavor designed for summer socializing. This launch reflects seasonal innovation in the cannabis-infused drink space, offering consumers new and exciting flavor profiles.

Loch Lomond Group Acquires New York Distilling Co.

Loch Lomond Group has acquired New York Distilling Co., marking a transatlantic expansion into the American spirits scene. The deal adds a heritage-rich brand to Loch Lomond’s growing global portfolio, enhancing its presence in the U.S. market.

What This Means for the CPG Industry

These stories reflect a broader shift across the CPG sector—a balancing act between honoring legacy strengths and embracing new consumer priorities. Strategic acquisitions, like e.l.f. Beauty’s $1 billion purchase of Rhode, show that established brands aren’t just looking for incremental growth—they’re leveraging the credibility and cultural cachet of celebrity-led brands to unlock entirely new audiences. It’s a signal that the line between influencer-driven branding and traditional CPG is blurring even further.

Retail expansion is another thread weaving through this week’s headlines. Nuts.com’s pivot to brick-and-mortar with Pop & Sol illustrates how even long-standing e-commerce players are realizing the enduring power of physical shelf space. Online presence alone isn’t enough—consumers want to touch and feel these products, and brands that show up where their shoppers already are can capture deeper loyalty.

Meanwhile, the product innovation on display speaks to the shifting definition of wellness and indulgence. Legendary Foods’ protein donuts are a classic example of “better-for-you” snacks that deliver on both taste and nutrition, while Afterdream’s microdosed cannabis beverages cater to a growing demographic that values nuanced, measured experiences over blunt intoxication. Even traditional giants like Anheuser-Busch are finding new ways to compete in functional beverage categories with products like Phorm Energy, underscoring that the wellness wave is no longer niche, it’s reshaping entire portfolios.

Kraft Heinz’s $3 billion bet on U.S. manufacturing is another sign of the times. It’s a hedge against global uncertainty and an investment in local agility. Domestic manufacturing not only shields companies from tariff and supply chain shocks but also speaks to a growing consumer interest in provenance and local sourcing.

Finally, the rise of design-focused packaging like One Trick Pony’s peanut butter jar reminds us that small touches can drive real competitive advantage. Consumers want convenience, functionality, and even a little joy from the products they buy, and smart packaging can tip the scale in a crowded category.

Taken together, these stories paint a picture of an industry in transition. The growth playbook is no longer just about getting bigger—it’s about getting smarter. M&A, design, product development, and manufacturing aren’t isolated functions; they’re part of a holistic approach to building brands that resonate with today’s consumer. For CPG leaders and talent in the space, the takeaway is clear: you need to be nimble, innovative, and willing to rethink your approach to keep up.