Phil Mero’s Post

🚀 Exciting News in the Beverage World! 🚀 We're thrilled to have read that Spindrift Beverage Co, Inc., the innovative brand known for its real squeezed fruit juice sparkling waters, is reportedly in advanced talks for a $650M acquisition by Gryphon Investors, as per The Wall Street Journal. This potential deal highlights the incredible growth and premium positioning Spindrift has achieved in the CPG space. With a 22.5% increase in dollar sales, reaching $263.3 million over the past year, Spindrift's commitment to quality and authenticity continues to resonate with consumers. This acquisition could mark a significant milestone, not just for Spindrift, but for the entire beverage industry. At #Makeena, we celebrate such achievements and are excited about the opportunities this presents for investors and CPG brands looking to align with innovative and high-growth companies. Let's raise a glass to Spindrift's success and the bright future ahead! 🥂 #Spindrift #CPG #InvestmentOpportunities #BeverageIndustry #Growth

Alimentation Couche-Tard is set to acquire Giant Eagle, Inc.'s GetGo c-store business • Approximately 270 GetGo locations across 5 states included in the deal • Acquisition covers convenience retail and fueling locations • Couche-Tard and Giant Eagle to partner on myPerks loyalty program • Deal expected to close next year, pending regulatory approval • Financial terms not disclosed What this means: ✅ Couche-Tard expands its network of 16,700+ stores ✅ Giant Eagle to focus on core supermarket and pharmacy businesses ✅ Potential for price reductions and store improvements at Giant Eagle Brian Hannasch, Couche-Tard CEO, expressed excitement about welcoming GetGo's talented team and innovative approach. Giant Eagle CEO Bill Artman sees this as a win-win, allowing strategic investments in their core business while partnering GetGo with an industry leader. Progressive Grocer https://lnkd.in/gdKziStk #retail #conveniencestores #supermarkets #acquisition #cstores #strategy

Sometimes saying NO to more stores is a long term winning strategy 🚀 This summer Whole Foods Market gave Mate Maker co. a shot and we requested to not go full footprint in SOCAL... Instead we hand picked a number of stores. Why? Because new distribution can be gained fast, but it can be taken away even faster 🙅♂️ When we launched in May, we were placed in the wrong section of the cooler, no pricing tags and getting lost in a sea of different products. So we got to work, made pivots and executed like our life depended on it... Very quickly we saw the rate of sale turn around with some stores hitting over 9-10 cases per store per month! Here are the key pillars we focussed on this summer to drive strong rate of sale: 1. Trial in store: having our team execute tastings in store to break people out of their normal choices and try something different. 2. Pricing: how is it priced vs the competition? 3. Placement on shelf: is the product at eye level and easy to find? 4. Packaging: Is the packaging exciting and does it communicate flavor and fruit? Simple right? Many times these are the key elements that get overlooked and have a massive impact to performance. Keen to join our crew? We're building the future of drinks and now opening the doors to new investors who want to join us in this journey. Invest now: https://lnkd.in/gqUihTjX

Justin Medcraft shares his experience launching into Whole Foods Market by reminding drinks founders of 4 key pillars to drive his Mate Maker co. products across a manageable footprint, before broadening distribution with the retailer. This is sage advice for Australian drinks founders exploring the same retail distribution expansions here. Congratulations and well done to Justin and his team - I can literally feel the sweat on my brow when reading the phrase "so we got to work, made pivots and executed like our life depended on it".

Foxtrot is closing down and GoodGood in Canada met the same fate last year. Is there no room for Strategic Renewal in grocery? Both concepts sought to combine a local neighbourhood retailer and eatery with fast delivery. Both took on substantial investment. Who doesn't want a local eatery with retail and fast delivery? How did they fail? Prior to Faculty of Change, I spent a decade as a VC, primarily focused on consumer brands. The only businesses that can scale rapidly are those that have strong sales and generate high profit margins. I can list 20 names you won't remember or haven't heard of that failed making the same mistakes. You don't want to find yourself reliant on external capital to fund your growth. When that capital runs out, so does your business. The truth of retail is it takes YEARS for a store to be fully productive. And that is assuming it has a clear value proposition that resonates with customers. Beyond the financing story, what can we learn about Strategic Renewal from this? Foxtrot, Doms and GoodGood were more akin to specialty coffee retailers than they were grocery stores. They tapped into the rising habit of "sweetie treaties." These are quick spending urges, usually satisfied by a snack or beverage. McDonalds is capitalizing on this growth with Cosmos. The writer Kyle Chayka described it as "Honestly, I’ll miss it. In a city that doesn’t have nearly enough corner stores, it was a place where you could spend $10-20 on a bag of little treats that felt tuned to your life." I miss many businesses that had unsustainable business models that subsidized my life with VC money. But there is more to learn here. These companies offered opportunities for self expression and self development through consumption. The packaging was important because you wanted to be seen with it. The treasure hunt and discovery was a part of the experience. You are putting into the work of growing and learning (and expressing your taste). Grocery, and food retail in particular, solves for a whole range of human needs - from sustenance to status and beyond. These millennial grocery chains just met a different need set than was traditional. It doesn't mean they were wrong in concept, they were wrong in execution. https://lnkd.in/gJhA3nK2

Wakefern Food Corp. has acquired Di Bruno Bros., a Philadelphia-based maker of specialty products, including crackers, cheeses and cured meats. https://ow.ly/mQZp50UxrjP #acquisition #corporatestrategy

Anderson & Campbell 👉 Campbell's Soup 👉 Campbell's Company (i.e. Founder 👉 Descriptive 👉 Founder) The Camden, N.J.,-based food giant said changing its name to The Campbell’s Company is "part of its evolution" as it adopts a "new strategy [and] new mission." 🔍A clue about the timing? Just a few months ago, the Campbell's Soup CEO was calming investor concerns about financial performance by assuring them that their snacks division was poised for outsized growth. Have you been picking up some extra Milano cookies lately? I certainly have 🍪 It's a smart move - Campbell's Soup was too limiting, and they are smartly using the rebrand to remind customers that they have snacks, which is where the growth is. If you want to read up on brand naming, check out my blog! https://lnkd.in/gk3fXWdB

🚨 Breaking news 🚨 Foxtrot and Dom's Kitchen & Market are ceasing operations, effective today, just months after they merged to form Outfox Hospitality. Read more here 👇🏻 #retail #grocery #delivery #foxtrot

As someone who hadn't experienced Foxtrot and Dom's Kitchen & Market firsthand, the sudden closure of these businesses prompts reflection on what customers truly seek from their grocery experiences. This article sheds light on the challenges that innovative retailers face amidst the dominance of larger competitors and the demand for efficiency. Despite their ambitious growth plans, both Foxtrot and Dom's ceased operations abruptly, leaving the industry reeling with shock and frustration. Foxtrot revolutionized convenience by offering a multifaceted experience encompassing a café, grocery, and delivery services, while Dom’s distinguished itself through culinary excellence with its foodservice stations. The demise of these retailers sparks speculation about the viability of their business models and the effectiveness of their financial management. In an era where cost-cutting and essential-focused strategies reign supreme, retailers struggle to sustain imaginative concepts in the face of industry giants. Foxtrot's labor-intensive model and Dom’s experiential focus encountered significant pressure to deliver consistent returns. The relentless competition driven by efficiency and evolving consumer spending habits poses challenges for startups, while established players like Aldi thrive with their lean operations. However, amidst these challenges, there remains opportunity for innovation, albeit in a more focused and selective manner. Retailers must strike a delicate balance between cost-cutting measures and providing unique experiences to stay competitive in today's landscape. Whole Foods serves as a prime example, maintaining customer excitement through innovative store designs, emphasis on local sourcing, and meticulous brand development. In conclusion, the abrupt closure of Foxtrot and Dom’s serves as a reminder of the imperative for retailers to pilot innovative concepts while nurturing strong connections with customers, even within an environment demanding utmost efficiency. #RetailInnovation #CustomerExperience #GroceryTrends

Packaged #grocery brands know they have to consistently innovate to be able to compete with the large players. However, there are challenges to entering new categories that go beyond investing capital. In this piece by Gabriela Barkho, we speak to Nona Lim of Nona Lim, and Daniel Goetz of GoodPop.