Shows
Unpackaged Goods$10M for Alcoholic Gatorade + Michael Zabar's Coffee Shop RevolutionThis week in CPG was absolute chaos. Tom Brady's selling protein powder, Beyond Meat launched beverages, and someone raised $10 million for alcoholic sports drinks that taste like Gatorade. Categories officially don't exist anymore.In this episode:[0:00-25:00] This Week's CPG MadnessSpikedAde's brilliant $10M sports drink cocktail thesisTom Brady and Mike Repole's NOBULL nutrition expansionBeyond Meat's desperate beverage pivot$110M+ in M&A deals including Kroger's strategic acquisitionsAG1's Vitamin Shoppe conquest and Target's premium food accelerationWhy category convergence is accelerating exponentially[25:00-60:00] Michael Zabar Interview - Building...
2026-01-2258 min
Unpackaged GoodsWhy Cottage Cheese Is Worth More Than Your Startup & THC Infiltrates Grocery StoresEpisode 12: The $500 Million Cottage Cheese EconomyL Catterton just valued cottage cheese at half a billion dollars. Sprouts put THC drinks next to kombucha. Parents paid $15M to hide vegetables in waffles. And someone put mushrooms in fake martinis. Welcome to CPG in 2026.IN THIS EPISODE:[2:30] - Why Good Culture's $500M+ valuation actually makes sense [10:30] - How Sprouts just legitimized the entire THC beverage category [17:30] - The hidden vegetable economy and why parents will pay anything [23:30] - Zero-proof cocktails get functional (because of course they do) [28:30] - Rapid fire...
2026-01-1324 minUnpackaged GoodsAustralia Buys California & Other 2026 CPG ShockersUnpackaged Goods Episode 11: The $200 Frying Pan EconomyWelcome 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 why Tyson should be terrified)🌏 Australia Buys California: The $173.5M Cobram Estate acquisition that just changed your olive oil forever - and what it signals about agricultural imperialism💊
2026-01-0725 min
Unpackaged GoodsWhy $490M Is Better Than $700M + L'Oreal's Billion Euro License ProblemIn 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 €1.5 billion business they already operate under license until 2050. Why buy what you already run? Because ownership beats renting, even with 25 years left on the lease.We also celebrate Borough Broth's £7.5 million raise after 9 years of bootstrapping to £10 million...
2025-12-0922 min
Unpackaged GoodsBeatBox's $700M Exit, Suja's IPO Gamble & Why Every Fund Just Raised Hundreds of MillionsIn 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 bonanza of 2025:Monogram Capital: $350M for Fund III ($1.75B AUM)Prelude Growth: $600M after scoring exits from PHLUR and 8GreensWhy every fund is suddenly flush with LP capital againWhat this means for CPG valuations going forwardOther st...
2025-11-2515 min
Unpackaged Goods$49B for Band-Aids + Dirty Gut's No-BS Approach to Digestive HealthIn 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 brand "Dirty Gut" instead of something safeBuilding an education-first supplement brand that actually talks about poopThe Gut Reset Kit system approach vs. single supplementsCompeting with $100M-funded wellness brands on a bootstrap budgetMaking digestive health conversations mainstream (and...
2025-11-0837 min
Unpackaged GoodsDjokovic Makes Popcorn, Recess Raises $30M & Stesh Founders on Taking Pistachio Butter LuxuryIn 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. We explore:Building a luxury brand in a commodity categoryThe challenges of pistachio sourcing and productionConverting consumers at premium price pointsTheir vision for expanding beyond traditional nut buttersPlus: A critical segment on t...
2025-11-0336 min
Unpackaged GoodsIs Your Protein Powder Toxic? Plus LVMH Exits Fenty & GrĂĽns Hits $300MIn 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)GrĂĽns crosses $300M in revenue while staying profitableAdvent seeks $2B for luxury fragrance brandsUnilever's $9B ice cream spinoff delayed by shutdownCarbone Fine Food expands to simmer sauces near $100M markPlus: A fact-based breakdown of the protein powder controversy. We compare actual heavy metal levels to everyday foods, explain why California Prop 65 i...
2025-10-2429 min
Unpackaged GoodsTrelli Health: Reimagining Medicine Cabinets & Why Protein Pop-Tarts ExistIn 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 reliefWhy the OTC medicine aisle hasn't innovated in decadesThe challenges of competing with pharmaceutical giantsCreating trust in a category dominated by legacy brandsTheir vision for the future of wellness medicinePlus: Pop-Tarts adds protein, someone put creatine in a candy...
2025-10-1741 min
Unpackaged GoodsPRIME Drops 77%, Flow Water Dies & Whole Foods 2026 Trends (Solo Episode)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 troublesPRIME's 77% sales collapse (what happens when hype dies)Alec's Ice Cream raises $11M for A2 dairy expansionDeath Wish Coffee vs. Liquid Death legal battleMars/Kellanova's $36B merger gets EU approvalPlus: I break down Whole Foods' 2026 trend predictions (beef fat is trendy now?) and share my...
2025-10-1036 min
Unpackaged GoodsByte'm Brownie Bites: College Roommates to CPG Success & Once Upon a Farm's IPOIn 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 nostalgiaWhy they refused to make "healthy" browniesScaling from dorm room to retail shelvesThe power of friendship in businessTheir advice for college students with CPG dreamsPlus: Joyride beats Skittles at Target, PRIME sales collapse 50%, and someone made kratom beer (yes, really).
2025-10-0351 min
Unpackaged GoodsGrace Finerman (Date Smarter): From TV News to Date Powder Chocolates & Tito's Historic First BuyIn 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 her to discover date powderBuilding a better-for-you candy brand that actually tastes goodCreating chocolate caramels with natural ingredientsThe challenges of launching in the crowded healthy candy spaceHer transition from telling stories on TV to building a brand story
2025-09-261h 24Unpackaged GoodsUnpackaged Goods Ep 1: The Lucky OX: It wasn't just luck. Meet Kyle and Fane and hear about their journey from Zero to over 500 storesIn 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.
2025-09-2045 min
Private Equity 360Corporate Transparency ActThe Corporate Transparency Act (CTA) will have a significant reporting and compliance impact on the private equity industry and their portfolio companies and it's a good bet that most private equity firms are not fully aware and certainly not prepared for the impact of this law and the significant penalties for non-compliances. In this episode of Private Equity 360, National Practice Leader Bob Woosley discusses the impact of the CTA on private equity firms with attorney Jonathan Wilson. We encourage our private equity firm clients and friends to become educated on the CTA and get prepared in 2023.
2023-01-1218 min
Hymn Talk24. Justin Deeter on Edwards and the Means of Grace – “My Worth is Not in What I Own”By general consensus, Jonathan Edwards is the greatest theologian in American history. Edwards’ reflections and insights on the Christian life remain just as keen today as they were in the 18th century. Time would fail to tell of all the ways he has impacted the church for good. In this episode, Zack welcomes Justin Deeter to discuss Jonathan Edwards’ life and legacy. They consider Edwards’ thoughts and impact on the First Great Awakening, Christian joy, and corporate worship. They also discuss the Getty hymn “My Worth is Not in What I Own.”
Justin Deeter is the Lead Pastor of...
2021-01-2020 min
Culture of ComplianceGlobal Mobility: What are the Compliance Risks?With employees working remotely as the norm, many have opted to shift their work location to a place far from the office. This could have tax implications for both the employer and employee. Sabrina Serafin interviews Jonathan Clark and Kristin Popp, tax experts with Frazier & Deeter. Our experts explain what is global mobility and how to comply with tax rules when working remotely.
2020-12-1514 minPrivate Equity 360Lift Out Strategy: A Case StudyAs previewed at the 2020 Institutional Limited Partners Association (ILPA) Annual Summit, this case study delves into the strategy of "lifting out" a private equity firm's back office and bringing that team into a third-party administrator. National Practice Leader, Bob Woosley discusses this strategy with FD Fund Administration CEO, Thomas DiEgidio, and FD fund Administration Principals, Andrew Huss and Jonathan Haidet who successfully joined the firm as a result of a lift out. Watch now: https://www.fd-fa.com/videos/private-equity-360-lift-out/Â
2020-11-1721 min
Untangling the TechnicalUK COVID-19 Update – Changes to Furlough Arrangements and Wage Cost ClaimsThe UK Government has released further guidance on how employers should prepare for changes to the UK Job Retention Scheme from 1 July 2020. In this podcast, Mike Whitacre interviews Jonathan Clark, a Tax Director in Frazier & Deeter’s London office, who discusses the new flexible furlough arrangement and how employers will need to calculate their monthly wage cost claims in conjunction with the tapering of the furlough scheme. Learn More: https://www.gov.uk/government/collections/coronavirus-job-retention-scheme Â
2020-06-1715 minUntangling the TechnicalUK COVID-19 Relief: Employment Tax and Global MobilityContinuing our discussion of COVID-19 relief for UK businesses, Mike Whitacre interviews Jonathan Clark, Director in Frazier & Deeter’s London office. Listen now for information on UK employee tax assistance and issues regarding global mobility. Frazier & Deeter UK: https://www.frazierdeeter.co.uk/ Frazier & Deeter US: https://www.frazierdeeter.com/
2020-04-1319 minUntangling the TechnicalUK COVID-19 Relief MeasuresThe UK Government has announced relief measures to help both individuals and business impacted by COVID-19. In this episode, Mike Whitacre interviews Jonathan Clark, a Tax Director in Frazier & Deeter’s London office. Listen now for an overview of the measures and steps you or your business can take now. Frazier & Deeter UK: https://www.frazierdeeter.co.uk/ Frazier & Deeter US: https://www.frazierdeeter.com/
2020-04-0616 min