Unpackaged Goods

Unpackaged Goods Episode 11: The $200 Frying Pan Economy Welcome to 2026, where your cookware costs more than your groceries and the Poppi founder is already building his next billion-dollar brand. In this week's episode, we break down: 🚀 The Poppi Playbook 2.0 : Why Stephen Ellsworth immediately joined DropOut Companies after his $2B PepsiCo exit to launch Bronco breakfast sandwiches (and w...

In Episode 10 of Unpackaged Goods, we correct last week's mistake: Reuters revised the BeatBox acquisition to $490 million for 85% (not $700 million outright). The real numbers tell an even better story about discipline returning to CPG M&A – AB InBev paying just 1.4x retail sales with a smart earnout structure. Then we explore L'Oreal's interest in acquiring Armani Beauty – a €...

In Episode 9 of Unpackaged Goods, we unpack Anheuser-Busch's $700 million acquisition of BeatBox Beverages – a surprisingly rational 2.8x revenue multiple that signals discipline returning to CPG M&A. Plus, Suja Life's bold IPO filing tests whether Wall Street is ready for another juice story (spoiler: they better have a platform pitch). Then we dive into the great fund raising bonan...

In Episode 8 of Unpackaged Goods, we unpack the biggest CPG deal of the decade: Kimberly-Clark's $49 billion acquisition of Kenvue (Tylenol, Band-Aid, Neutrogena). Plus, Mid-Day Squares proves you don't need venture capital to scale, announcing plans to triple manufacturing capacity using cash flow and debt. Then, Daniel from Dirty Gut joins us to discuss: Why he named his gut health bra...

In Episode 7 of Unpackaged Goods, we cover the biggest moves in CPG this week, including Recess's $30M Series B as they expand beyond CBD, Fruitist's $150M raise at $400M revenue, and Target's aggressive push into wellness shots. Then, we sit down with the founders of Stesh to discuss how they're revolutionizing the nut butter category with premium California pistachio butter. ...

In Episode 6 of Unpackaged Goods, Jonathan tackles this week's viral Consumer Reports article about heavy metals in protein powder - and explains why the fear-mongering doesn't match the science. This week's major moves: LVMH explores exit from Fenty Beauty ($450M in sales) Grüns crosses $300M in revenue while staying profitable Advent seeks $2B for luxury fragrance brands Unilever&...

In Episode 5 of Unpackaged Goods, Jonathan covers the week's biggest CPG moves including BUILT Bar's potential sale, Sprinter Spirits' $4M raise, and why luxury butter needs venture funding. Then, the founder of Trelli Health shares their mission to create cleaner alternatives to everyday medicines. We discuss: Building plant-based alternatives to Tylenol, cold medicine, and IBS rel...

In this solo episode of Unpackaged Goods, Jonathan breaks down the week's biggest CPG collapses, comebacks, and contradictions. We analyze PRIME's staggering fall from $1.3B to $300M, Flow Water's receivership, and why DUDE Wipes is somehow crushing it at $130M. This week's stories: Flow Water and Uncle Nearest's financial troubles PRIME's 77% sales collapse (what hap...

In Episode 3 of Unpackaged Goods, Jonathan breaks down Once Upon a Farm's IPO filing, Smucker's protein-powered PB&J launch, and why everyone's putting weird stuff in non-alcoholic beer. Then, the founders of Byte'm Brownie Bites share their journey from college best friends to CPG entrepreneurs. We discuss: Building a brownie brand on pure nostalgia Why they refused to mak...

In Episode 2 of Unpackaged Goods, Jonathan breaks down the week's biggest CPG moves including Tito's historic first acquisition (LALO Tequila), Heineken's $3.2B infrastructure play, and why an NFL quarterback is investing in jumbo blueberries. Then, Grace Finerman, founder of Date Smarter, shares her journey from TV news anchor to CPG founder. We discuss: How 3 AM wake-up calls led...

In our premiere episode, The Lucky Ox reveals how they transformed nostalgic Asian flavors into a premium Asian beverage brand. We discuss their journey from working together at Nike, and Jonathan breaks down this week's biggest CPG news, including the founders of Ben & Jerry's stepping down and Alice mushroom chocolates raising $ 8 million.