I just spent three days at the Summer Fancy Food Show at the Javits Center. Then I sat down with Jess Haghani, founder of Lucille Health, the senior nutrition brand building for a consumer most CPG brands completely ignore. Then I break down Danone spending $2.55 billion on functional nutrition in a single quarter, and three companies bidding $4 billion for Thorne.
This week on Unpackaged Goods:
SUMMER FANCY FOOD SHOW RECAP
I walked the floor at Javits and came back with four patterns every founder and investor should be watching:
→ Protein is everywhere — protein soda, protein candy, protein oatmeal, protein ice cream. If your product doesn't have a protein story, you're starting the shelf conversation at a disadvantage. It's the new baseline.
→ Founder quality has gone up dramatically — serial founders with nine-figure exits are back for round two. The caliber entering CPG right now is higher than I've ever seen.
→ Packaging has leveled up across the board — the days of ugly packaging getting a pass are over. Turner Duckworth, LAND, Interact Brands. The design investment is real.
→ International brands are coming for U.S. retail — Korean beauty through Olive Young, French fragrance through Fascent, UK matcha through PerfectTed. They're not waiting to be found. They're coming directly.
INTERVIEW: Jess Haghani, Founder & CEO of Lucille Health
→ Building a better-for-you nutrition company specifically for older adults
→ Why 20% of the population gets less than 1% of food and beverage innovation
→ The aha moment with her grandmother Lucille's hospital experience
→ From KKR to HBS to launching a senior nutrition brand
→ How they worked with Harvard Chan School of Public Health on formulation
→ Out of 10 core ingredients, Lucille only overlaps with Ensure on water and salt
→ Taste as the North Star — sweetness level, texture, aftertaste, chalky finish
→ Pull-tab straw packaging designed for accessibility — inspired by her fiancé's grandmother Mary Lou
→ Sales strategy: e-commerce, Amazon, senior living communities, and McKesson partnership
→ The vision to transform the entire adult nutrition category, not just replace Ensure
→ 95% of older men and 83% of older women are chronically under-hydrated — and nobody is building for them
→ The brand name, cursive handwriting, and flower on the logo all come from grandmother Lucille
WEEKLY BREAKDOWN:
→ Danone acquires MADE Group for a reported $1.4B — Cocobella, Rokeby, Impressed across Australia, NZ, and Southeast Asia. Three months after buying Huel for $1.15B. That's $2.55B on functional nutrition in one quarter.
→ European food giants scorecard: Danone ($2.55B), Nestlé (€450M for yfood), Lactalis (Protein Works), Unilever ($1.2B for Grüns). Over $4.25B in disclosed functional nutrition acquisitions in six months. Thorne at $4B would nearly double it.
→ Thorne bidding war: P&G and Haleon join Unilever at $4B. Revenue pacing for $650M. Three bidders means L Catterton has leverage. Could be the largest supplement acquisition in history.
→ Sazerac launches three RTD brands from scratch — Endless Afternoon, Buckhorn, Lovebug. Stops just acquiring, starts building brands it owns 100%.
→ Bacardi takes full ownership of Teeling Irish Whiskey — nine years from minority to full control. Patient capital playbook.
→ Coconut Cult $12.5M for a 300,000-square-foot factory — the largest emerging brand manufacturing investment this year. Equipment financing, not equity.
→ Pat McAfee invests in Jams — media empire becomes a distribution channel. The Pat McAfee jams effect is already viral.
→ L Catterton invests in RŌZ haircare — deploying across skincare (Remedy), supplements (Thorne), athletes (CHAMP), and now haircare.
→ Los Sundays lands investment from NÜTRL founders (sold to AB InBev) — helping launch in Canada.
→ Maxine's Heavenly raises $3M — tripling revenue, acquiring manufacturing.
→ Fascent raises $1.5M for French fragrance in the U.S.
→ Myota closes $4.5M for UK gut health — supplying Joe & The Juice.
→ McCormick Q2 net sales up 16.7%.
→ k2o by sprinter: $4.3M since pivoting to beauty supplements in April.
→ Distribution: Stars + Honey at Target, Cuso's at 216 Sam's Club, DryWater at Vitamin Shoppe, Smearcase at Safeway, 'ndulge at five major chains day one.
Every story this week is about control. Danone is buying full ownership. Bacardi is taking full control. Sazerac building brands it owns outright. Coconut Cult is building a factory that it will completely control. Minority positions are stepping stones. Full ownership is the destination.
Build what you own. Own what you build.
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