Episode 12: The $500 Million Cottage Cheese Economy

L 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: Clear protein, Honey Mama's at Costco, AB InBev dominance [36:30] - The Optimization Economy: Have we gone too far? [41:30] - Predictions for 2026 and what this means for your brand

KEY TOPICS:

• Good Culture's path from farmers market to $500M valuation
• Why forgotten categories hide billion-dollar opportunities
• Sprouts' 120-store THC rollout and what happens next
• The psychology of hiding vegetables in kids' food
• How AB InBev is winning the RTD cocktail wars
• Why everything needs protein and adaptogens now
• The blueprint for modern CPG success

MENTIONED BRANDS: Good Culture, L Catterton, Manna Tree Partners, Sprouts Farmers Market, Cann, Jeng, Evergreen, Dry & Dirty, Bloom Nutrition, Honey Mama's, AB InBev, Cutwater, BeatBox, MUD\WTR, RYZE, Ritual, Target, Costco, Whole Foods

EPISODE HIGHLIGHTS:

• "They're not buying cottage cheese. They're buying the ability to convince millennials that forgotten foods are cool again."
• "When Sprouts says cannabis is groceries, the regulatory moat just disappeared."
• "We've turned eating into a complex optimization problem. And somehow, it's working."
• "The next billion-dollar brand is probably in your grandma's pantry right now."

ABOUT THE SHOW: Unpackaged Goods is the CPG industry's source for unfiltered analysis, founder stories, and insights into what's really selling. Hosted by Jonathan Deeter, founder of Pickle Advisors and Deets Eats Media.

CONNECT WITH JONATHAN: 📧 Newsletter: The Deeter Digest (subscribe at [https://substack.com/@deetseatsnyc]) 📱 Instagram/TikTok: @deetseatsnyc 💼 Advisory: pickleadvisors.com ✉️ Email: jonathan@pickleadvisors.com

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Unpackaged Goods Episode 11: The $200 Frying Pan Economy

Welcome 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

💊 100 Million Gummies: How First Day quietly built a vitamin empire without celebrities, viral marketing, or VC hype

🛒 Private Label's Hostile Takeover: Store brands hit 21.2% market share with 74% quality perception - why national brands are officially on defense

🍳 The PFAS Apocalypse: January 1st bans in Maine, Connecticut, and Vermont just made "clean" products a luxury category (yes, your non-stick pan really costs $200 now)

📦 The Infrastructure Wars: Walmart's $152M Arizona play, Amazon's grocery panic, and why supply chain excellence is the new brand differentiation

Plus: Jonathan's 2026 predictions, why ceramic coating technology is actually fascinating, and which CPG categories are ripe for disruption this year.

Whether you're a founder, investor, or just someone who shops for groceries, this episode explains why everything about consumer packaged goods just changed overnight.

Listen now on Apple Podcasts, Spotify, or wherever you get your podcasts.

Follow @unpackagedgoodspod and @deetseatsnyc for daily CPG insights

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 syrup
• REI invests in Dune Suncare through Path Ahead Ventures
• LVMH backs BDK Parfums at 45% growth
• Snif launches Notewrks cologne line at $40M revenue run rate
• Everyone adds protein to everything – peak supplementation achieved

From 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.