Start betting on kids products.
+ dairy is back (and lactose-free), David Protein makes headlines, and more...
Hello hello!
Happy post-Super Bowl Monday!
So today, we’re writing about a subject inspired by some other major news that came across our desks last week: Once Upon a Farm’s IPO, and what it says about the booming, better-for-you kids market.
If you’re a parent, you’re likely getting recommendations for your kids’ products from multiple different sources. And let’s be real: one of those sources is likely a really great paid ambassador—a creator who shares their top recs in such a compelling, engaging way, you quickly add them to your cart. That’s a great ambassador program at work.
But the reality is, most affiliate and ambassador programs struggle for boring reasons: The wrong creators. Slow onboarding. No structure. No control. And no real proof it’s working.
But those programs that actually stick? The ones that can make YOUR brand the next add-to-cart? They…
Find the right creators first, not the loudest ones. Start with signals and intent, not cold lists.
Create structure as you scale, with clear tiers that show who actually drives impact.
Stay in control as programs grow, without spreadsheets or inbox chaos.
Prove ROI and pay with confidence, so budgets stay approved and creators stay engaged.
Endlss is how brands put structure, control, and trust behind their ambassador programs.
News From the Week
Once Upon a Farm, the organic baby and kids food brand co-founded by Jennifer Garner, just went public… at a cool $724 million valuation.
Last week, the brand raised nearly $198 million in its IPO, pricing shares at $18 and watching them surge 17% on opening day. Once Upon a Farm has grown from $8 million in sales in 2018 to over $200 million today—a 64.6% compound annual growth rate that has investors betting big on premium kids nutrition.
Some context: Healthy kids’ food brands rarely IPO, because most successful startups in this space are acquired by massive conglomerates (like Nestlé, Danone, or Kraft Heinz) before they reach the public markets—think Plum Organics, Happy Family (Happy Baby), and Annie’s (which actually did IPO, but was acquired by General Mills shortly after).
Seeing Once Upon a Farm finally IPO (after many whispers about this happening) is a massive moment for the better-for-you kids food revolution.
So… how did we get here?
Once Upon a Farm started in 2015 with a simple vision by co-founders Cassandra Curtis and Ari Raz (now running Coconut Cult): a more nutritious, convenient, and delicious baby food option than what was available in grocery. They created the first cold-pressure-protected baby food sold at retail, and later recruited former Annie’s CEO John Foraker and actress Jennifer Garner to join their mission as co-founders.
The product line itself was incredibly innovative, featuring high-pressure processing (HPP) to naturally preserve ingredients, extend refrigerated shelf life, and avoid the use of added preservatives. But what really set the brand up for success was how it physically altered the entire baby/kids aisle at retail, putting coolers in a traditionally ambient (AKA shelf-stable) category:
Research showed that millennial parents were making their own baby food at home, and actively avoiding the conventional, shelf-stable baby food aisle. The brand believed this proved that coolers would “bring consumers back into their aisle” by emphasizing freshness and homemade quality, with the convenience of in-store, made-for-you access.
Starting in 2017, the brand tested coolers with Target and Kroger—initially footing the bill for installations.
And something wild happened: Baby aisles with Once Upon a Farm coolers saw +10% of total category dollar growth, and were 61% incremental—AKA they got more shoppers to enter the category, rather than just stealing share from other brands.
Obviously, retailers loved these results—so as velocity proved out, retailers started paying for the coolers themselves. Today, the brand has over 2,800 coolers deployed nationwide.
Then, a safety crisis accelerated everything. Between 2019-2024, damning reports revealed that 95% of baby foods contained heavy metals like lead and arsenic. Then in 2023, cinnamon applesauce pouches with lead levels 200x above proposed limits sickened 205+ children across 33 states.
The FDA issued voluntary guidance—California stepped in with mandatory QR code disclosures.
This created a massive opportunity for brands willing to lead with transparency. Once Upon a Farm became the first to receive the Clean Label Project Purity Award—leaning into safety at exactly the moment parents were demanding it most.
Once Upon a Farm’s timing was perfect: consumer demand for cleaner food converged with retailer buy-in on refrigerated infrastructure, right as regulatory pressure forced the industry’s hand.The brand didn’t just ride the wave—it helped create it.
Now? The better-for-you baby + kids product gold rush is on. Just look at who’s flooding in:
Little Spoon, the #1 DTC baby and kids’ food brand, went from baby purees to full “birth to backpack” meals and snacks. It recently made its retail debut in Target with 23 products across five aisles—Target’s largest food & bev launch to-date.
Cadootz just launched organic, whole-food protein crackers with 5g protein per serving—no seed oils, Clean Label Project certified, and founded by influencer-turned-investor Rachel Mansfield (we spoke with Rachel on The Curious Consumer podcast last week—listen here).
FoodNerd, a company making nutrient-dense toddler snacks, just raised $7.5M in a Series Seed round led by Selva Ventures to expand its nutritious, shelf-stable products for kids.
And then there are some of our personal favorite kids brands, like Jubilee’s (shelf-stable milk boxes in fun flavors made from fruit + veg), YUMI (organic toddler + kids snacks—we love their bars so much, we eat them ourselves!), and Kekoa Foods (organic baby food pouches that encourage early flavor exploration with diverse global ingredients).
The next frontier? Wellness goes kiddie. It’s not just food brands getting in on the action—the entire wellness category is expanding into kids products, bringing adult health trends to the littles:
First Day has built an entire portfolio of better-for-you gummy vitamins, spanning toddlers (ages 2-3), kids (ages 4-12), teens (ages 13-18), and adults—each with formulations tailored to developmental stages. Their kids’ line includes multivitamins, probiotics, sleep support with calming magnesium, and brain function gummies with ingredients like Cognizin™.
Hiya—zero-sugar, subscription-based multivitamins—has become a millennial parent favorite. The brand just launched Kids Daily Fiber+, a punch-flavored fiber powder in a container designed to “teach kids that gut health is a daily ritual, not a chore.”
Cure Hydration launched pediatrician-formulated electrolyte drink mixes specifically for kids.
Grüns, the viral gummy supplement company, has a line of Superfood Greens Gummies for kids—with wellness ingredients like “super mushrooms” and adaptogens.
Even COCOLAB, the dentist-designed oral care brand, is bringing its wellness spin to kids with COCOLAB Kids products.
Why now? Three forces converging:
Millennial parents (and now, Gen Z parents) demand transparency. They read labels, research everything, and share receipts. According to a 2024 study, 34% of Once Upon a Farm customers discovered the brand through word-of-mouth alone.
Regulatory pressure is mounting. California’s transparency law could go nationwide—and smart brands are getting ahead of it.
Functional ingredients went mainstream. Probiotics, DHA, prebiotics, adaptogens—once boutique wellness territory, now standard. Parents see early nutrition as an investment in long-term development, not just fuel.
The validation. Once Upon a Farm’s successful debut proves you can IPO by refusing to compromise—even in a category historically defined by cost-cutting and convenience. As wellness brands flood into kids products, the message is clear: parents will pay premium prices for brands as obsessed with their children’s health as they are.
CPG & Consumer Goods
Squeezing the middle. PepsiCo is cutting prices on Lay’s, Doritos, Cheetos, and Tostitos to regain customers amid slumping demand. Despite a 4.5% price increase boosting revenue, snack volumes fell 1% and beverage volumes dropped 4%. While there are a few dynamics at play, we’re citing this as a major case of a squeezed middle: consumers are opting for lower-priced private-label OR premium-priced, high-quality products that clearly communicate their value, with little room for the mediocre middle (AKA, convnetinal, BigCo, non-better-for-you brands).
Private label sales in the US hit $282.8 billion in 2025 (up $9 billion YoY), with store brand dollar sales jumping 30% from 2021 to 2025. Private labels saw 3.3% sales growth while national brands’ sales (like a Pepsi) grew just 1.2% and unit sales actually dropped 0.6%. Consumers are increasingly finding that store brands deliver quality at lower prices, with many premium private labels now indistinguishable from national brands.
These price cuts are part of a broader restructuring agreement with Elliott Investment Management, an activist investor that took a $4 billion stake in PepsiCo and has been pushing for changes to address slowing growth.
Against all odds, BetterBrand returned (kinda). Easy Lunches & More, an online marketplace for pre-packed and ready-to-eat meals, entered the low-carb, high-protein bread market with a frozen bagel called The Fit Bagel… that looks a whole lot like the ghost of BetterBrand’s haunted past.
Some context: BetterBrand was a “food tech” startup darling known for its low-carb Better Bagel, launched in 2021 with significant momentum, positioning itself as the Beyond Meat of carbs. By June 2023, the company reached a $170 million valuation after closing a $6 million Series A round, bringing its total funding to nearly $10 million (from high-profile investors like Reddit founder Alexis Ohanian and actress Emmy Rossum).
But—and here’s where things get spicy—the brand’s rapid rise quickly unraveled into controversy involving significant product quality issues, legal battles, and allegations of deceit and fraud. By late 2024, customers reported receiving moldy bagels and unfulfilled orders, while the company reportedly defaulted on a $700,000 loan intended for a bakery partner. The situation grew increasingly dire as a supplier filed a lawsuit claiming founder Aimee Yang could not be located to be served papers, and investors and retailers and partners alleged they were met with total silence. It has been an insane, Elizabeth Holmes-level situation—wild to watch unfold live.
Now, Easy Lunches—which was one of the many retailers ghosted by its predecessor—clearly decided to take matters into its own hands. The brand took its own stab at this BFY bagel—we’re still not sure if it’s the same recipe (and if so, how the retailer got its hands on said recipe), but we’ll be sure to report back once we try it. 🫡
Pour one out for a breakfast staple. Coca-Cola is discontinuing its iconic Minute Maid frozen juice line—an American staple for over 80 years. Shifting consumer preferences, competition from other beverages, plus citrus greening disease devastating Florida orange crops and poor Brazilian harvests ultimately led to this decision.
While the supply chain side of things is certainly playing a role here, this is equally a story of shifting consumer preferences. Consumers have been questioning the sugar content in juice products and instead swapping for bevs that offer more benefits—think: immunity shots, prebiotic sodas, electrolyte RTDs and powders.
Real ones remember frozen orange juice futures from Trading Places :) - Nate
The creatine boom continues. Koia is releasing a plant-based protein shake with 32g of protein and “1000mg of creatine”.
“1000mg of creatine” is a weird—and perhaps strategically deceptive—way of saying 1g, only ~1/5 of the recommended daily serving of creatine. I love Koia products, but this is creeping into something I’m dubbing “functionwashing”—a brand claiming countless “benefits” on its packaging, but containing too low of a dose of the functional ingredients to actually be effective. - Jenna
David Protein had two major headlines this week—one clear L, and one messy W:
Longevity expert and Chief Science Officer Peter Attia stepped down from his role at David Protein after his name appeared over 1,700 times in emails released in a Department of Justice document dump related to Jeffrey Epstein.
A New York federal court dismissed a lawsuit against David Protein brought by other low-calorie food producers. The plaintiffs accused David Protein of monopolizing the magical fat-replacement ingredient (EPG) after buying its only supplier, Epogee back in May 2025. The judge ruled that the plaintiffs failed to properly define the market or show that David’s actions harmed competition.
Rejoice, dairy-sensitive friends! Lactaid is entering the coffee creamer market, debuting in three flavors: French Vanilla, Caramel, and Sweet Cream. The creamers are made from real milk and cream but, of course, no lactose.
Lactaid has clearly been watching Chobani very closely. Chobani launched its coffee creamers just six years ago, and now commands nearly 12% of the US creamer market, responsible for driving most of the 3.6% category growth. If Chobani could carve out that much share in such a short time, Lactaid—with its specialized lactose-free positioning—has a shot at replicating that success.
And like Chobani’s creamers, these have a simple ingredient list: milk, sugar, cream, natural flavor, and lactase enzyme. Many traditional and non-dairy creamers contain a long list of ingredients, including partially hydrogenated oils, sodium aluminosilicate (an anti-caking agent), dipotassium phosphate, and various gums and fillers. These are often viewed as “over-engineered” or chemical-laden by health-conscious consumers.
Plus, dairy is back in a real way. Major players are pouring hundreds of millions into dairy expansion:
Chobani raised $650 million at a $20 billion valuation and is investing $1.2 billion in a new dairy processing plant.
Danone invested $65 million to expand its Florida plant to meet growing demand for its International Delight and STōK coffee and creamer brands, plus millions more to expand its Ohio facility.
Lactalis USA is investing $75 million to expand dairy production.
Even Good Culture, the cottage cheese disruptor, just sold a majority stake to L Catterton for over $500 million and secured an additional $55 million from SEMCAP Food & Nutrition.
After nearly a decade of the industry betting big on dairy alternatives, real dairy products are having a serious moment—and if trend followers developed lactose-intolerance from drinking only oat milk for the last 10 years, Lactaid has a real shot at success.
Move over, seltzer… it’s soda’s time to get buzzed. Owl’s Brew, a RTD brand known for its tea-based cocktails, is rolling out Spiked Pop, a hard soda with 4.8% ABV and seven flavors including Watermelon Lime and Cream Soda.
There are other hard soda brands on the market, but none have really found success like their less-flavorful, lower-cal seltzer counterparts. But now that brands like Olipop and Poppi created the Modern Soda category and brought soda back into the limelight, people are thinking about soda and soda alternatives more than ever. Now is the time for a hard soda to take off.
Retail
A “budget” brand worth a trillion dollars. Walmart officially crossed the $1 trillion market cap threshold, driven by a 27% surge in e-commerce sales and a 53% growth in its advertising business. That places Walmart in the same camp as Meta, Tesla and larger than JP Morgan Chase, Johnson & Johnson, and Oracle.
If you aren’t betting on Walmart… what are you waiting for? Walmart’s stock has climbed more than 28% in the past year, and over 14% so far in 2026.
The brand attributes its insane growth partly to efforts like curbside pickup + improved delivery (like literal drones) and its focus on premium private-label brands. These focuses on convenience and premiumization have attracted higher-income shoppers to the retailer, turning it into a brand that’s truly for everyone.
Funding
Big day for bbq sauce. The Marzetti Company, a manufacturer and marketer of specialty food products, is acquiring Bachan’s, Inc.—a popular Japanese barbecue sauce brand—for $400 million. Bachan’s reported net sales of approximately $87 million for 2025.
Marzetti already manufactures and licenses products for major chains (Chick-fil-A sauces, Buffalo Wild Wings, Olive Garden, Arby’s, Subway, Texas Roadhouse rolls), so they know how to get sauces onto grocery shelves at scale.
This acquisition validates Bachan’s broader vision of building the first iconic Japanese-American flavor brand—with an authentic, multi-generational family recipe no less. Over the past few years, we’ve seen a few brands take their cultural products (and often, family recipes) to the masses and win, including Siete (acquired by PepsiCo), Fly By Jing, Diaspora Co, Brooklyn Delhi, Tia Lupita Foods (acquired by Vilore Foods), A Dozen Cousins (acquired by Verde Valle Foods) and more.
In case you forgot: your dog eats better than you. Fresh dog food maker Ollie (founded in 2016) has been acquired by Spain’s Agrolimen for over $600 million, bolstering Agrolimen’s foothold in the US pet food market. Ollie continues to operate under its current leadership.
This story feels weirdly tied to the Once Upon a Farm story (sans IPO). Pet brands that are winning right now offer fresh, “all-natural” ingredient options for pups—and the real winners like Farmer’s Fridge, FreshPet, and Ollie are found in the refrigerated section. This category, like baby products, was also massively impacted by wide-scale food safety crises and recalls.
By women, for women. SkinnyDipped—a female-founded snack brand—is launching the Female Founder Fund, a grant program offering a $25,000 and six months of mentorship to women-owned food businesses generating over $150K annually. Applications are open until February 25th, with the recipient announced in March.
In case you didn’t know: only 2.4% of venture capital goes to women. That’s it. And that doesn’t even account for the other barriers women face both systematic and otherwise in building their brands. And it’s not just where the money goes to, but also who’s giving out the money. Women make up just 11% of investing partners at these VC firms.
Always bet on CPG. CAVU Consumer Partners closed its fifth fund at $325 million—exceeding its $275 million target. The fund aims to capitalize on the continued growing demand for better-for-you consumer brands, having previously exited notable investments like Poppi and OSEA.
Gummies, you say? Proper Wild, a New York-based, clean energy shot brand founded in 2018, raised $10 million to fuel its expansion into the functional food market with new caffeinated energy gummies—because of course it’s gummies (check out our deep dive on the wild world of gummy supplements in last week’s edition).
Streamlined snacking. Hain Celestial Group is selling its North American Snacks business—including Garden Veggie Snacks and Terra chips—to Snackruptors Inc. for $115 million. As we’ve seen with all the recent CPG acquisitions, this move aims to streamline its portfolio, focusing on higher-margin categories like tea and yogurt.
Cottage cheese, so hot right now! Fresh off half a billion dollar raise from L Catterton, Good Culture is getting even more fresh powder with this $55 million investment from SEMCAP Food & Nutrition, aimed at accelerating growth and more innovation in their high-protein dairy products.
THC bevvies for the masses. Willie Nelson’s beverage company, Willie’s Remedy, secured $15 million in Series A funding to expand its hemp-derived THC beverages nationwide—sales have already exceeded 400,000 bottles within its first year, generating approximately $80 million in revenue. The brand aims for a retail rollout in 2026, featuring 10 products, including more THC-infused spirits and seltzers.
Spare your eyes, listen to us yap.
Check out our recent episode of The Curious Consumer! We interviewed Rachel Mansfield, founder of Cadootz!—a kids snack brand that should definitely be on your radar. We also broke down why gummy supplements are everywhere now, and talked through Oats Overnight’s big raise.
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This is such a sharp breakdown, Jenna. The Once Upon a Farm IPO really does feel like a signal moment for the better for you kids category, especially with transparency and refrigeration becoming table stakes. Also loved the callout on functionwashing and dairy’s comeback, both feel very real right now.