Unpackaged Goods

Jonathan Deeter

5.0 (4)
INVESTING

Spilling the real stories behind CPG brands. Host Jonathan Deeter unpacks founder journeys, industry news, and what it really takes to build consumer brands. Presented by Deet's Eats Media, a Pickle Advisors company.

DEC 9

Why $490M Is Better Than $700M + L'Oreal's Billion Euro License Problem

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 €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 revenue. Started with just £6K, this is what patient building looks like in an impatient industry. Other stories this week: AMASS launches sparkling protein water (because water needs gains?)Mike's Hot Honey enters beverages with barista syrupREI invests in Dune Suncare through Path Ahead VenturesLVMH backs BDK Parfums at 45% growthSnif launches Notewrks cologne line at $40M revenue run rateEveryone adds protein to everything – peak supplementation achievedFrom corrected valuations to patient capital to protein water absurdity, this episode explores what happens when discipline meets desperation in modern CPG. Listen on Apple Podcasts, Spotify, YouTube, or wherever you get your podcasts.

22 min
NOV 25

BeatBox's $700M Exit, Suja's IPO Gamble & Why Every Fund Just Raised Hundreds of Millions

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 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 stories this week: Perelel raises $27M from Prelude for women's health expansionBUILT opens second Utah factory, creating 500 jobsBUM Energy's 800% growth and talent raid from Liquid DeathYETI's puzzling $38M acquisition of Helimix shaker bottlesOddity launches telehealth dermatology platform MethodiqBellRing Brands delivers 16% growth in Q4From rational exits to loaded funds to actual factory construction, this episode explores why CPG's adults are finally back in charge. Listen on Apple Podcasts, Spotify, YouTube, or wherever you get your podcasts.

16 min
NOV 8

$49B for Band-Aids + Dirty Gut's No-BS Approach to Digestive Health

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 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 profitable)Other stories this week: Cymbiotika raises $25M at $150M revenue (Post Malone, Daymond John invest)Dua Lipa launches skincare with Augustinus BaderWELD introduces 18g protein energy drinksVital Farms delivers 37% growth in Q3Celebrity CPG continues with Alex Cooper's energy playFrom $49B acquisitions to brands tackling taboo topics, this episode explores the different paths to CPG success - and why the uncomfortable conversations might be the best opportunities. Listen on Apple Podcasts, Spotify, YouTube, or wherever you get your podcasts.

37 min
NOV 3

Djokovic Makes Popcorn, Recess Raises $30M & Stesh Founders on Taking Pistachio Butter Luxury

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. 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 the SNAP benefits crisis affecting 42 million Americans. As the government shutdown threatens food assistance, we discuss how CPG brands can help make their products accessible to everyone - because premium doesn't have to mean exclusive. Other stories this week: Novak Djokovic joins Cob as co-founder (sorghum popcorn)Chomps opens second manufacturing facilityMan Cereal launches with creatine-infused breakfastMagic Mind, Supergut, and more score major distribution winsListen on Apple Podcasts, Spotify, YouTube, or wherever you get your podcasts. #CPG #Entrepreneurship #FoodJustice #UnpackagedGoods #ConsumerGoods

37 min
OCT 24

Is Your Protein Powder Toxic? Plus LVMH Exits Fenty & Grüns Hits $300M

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 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 is meaningless, and share what consumers should really focus on when buying supplements. The truth? Your spinach has more lead than your protein powder. But fear sells better than facts. Available on Apple Podcasts, Spotify, YouTube, and everywhere you get podcasts.

29 min
OCT 17

Trelli Health: Reimagining Medicine Cabinets & Why Protein Pop-Tarts Exist

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 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 bar, and mac & cheese now comes with 47 grams of protein. We've officially reached peak protein absurdity. Available on Apple Podcasts, Spotify, YouTube, and everywhere you get podcasts. #CPG #HealthTech #Wellness #Entrepreneurship #UnpackagedGoods

42 min
OCT 10

PRIME 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 super early 2027 predictions including "The Great Creator Crash" and why AI-personalized CPG might actually happen. No guest this week - just unfiltered takes on why the fake money era is ending and real businesses are finally winning. Available on Apple Podcasts, Spotify, YouTube, and everywhere you get podcasts. #CPG #BusinessNews #FoodTrends #Entrepreneurship #UnpackagedGoods

36 min
OCT 3

Byte'm Brownie Bites: College Roommates to CPG Success & Once Upon a Farm's IPO

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 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). Available on Apple Podcasts, Spotify, YouTube, and everywhere you get podcasts.

52 min
SEP 26

Grace Finerman (Date Smarter): From TV News to Date Powder Chocolates & Tito's Historic First Buy

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 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 storyPlus: Ben Stiller makes soda, Charlie Sheen goes non-alcoholic, and we debate whether the world needs sperm performance supplements. Available on Apple Podcasts, Spotify, YouTube, and everywhere you get podcasts.

1h 24m
SEP 20

Unpackaged 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 stores

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.

46 min

10 Episodes

5

out of 5

4 Ratings

Great podcast

Sep 28

GinaMoore1986

I love Jonathan’s new podcast and following him on @deetseatsnyc. Hearing about the CPG news is so fun and I really love how he is doing a different take on the founder interview while going on field trips with them! Can’t wait for another episode!

Spilling the real stories behind CPG brands. Host Jonathan Deeter unpacks founder journeys, industry news, and what it really takes to build consumer brands. Presented by Deet's Eats Media, a Pickle Advisors company.

Creator

Jonathan Deeter
Years Active

2K
Episodes

10
Rating

Clean
Copyright

© 2025 Unpackaged Goods
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Unpackaged Goods