Key takeaways
Across the year 2025, this ledger holds 162 deals logged: brand acquisitions, stakes, IP sales and sale processes, each one dated, and 162 of them link to their source. Food & bev is the largest category at 33.3% of the total. 40 carry a disclosed price and 10 a published multiple. Totals reflect how much was found for 2025.
- Prices and multiples appear only where they were disclosed.
- Category mix, prices, buyers and sellers are the reliable reads here.
Source: Taylor Sicard, Taylor Sicard Consulting · Updated
Part of The Index · TSC living data trackers
Live tracker · Generated from the deal store
Last generated September 21, 2026
162 deals logged with a 2025 date.
162
Deals logged
$51.4B
Largest disclosed
40
With a disclosed price
Food & bev
Leading category · 54 items
Window covered: Jan 1, 2025 – Dec 31, 2025. Every figure on this page is computed from the underlying records when the page is built; none is maintained by hand.
01/How to read these counts
PLATE 01 · METHOD
How to read
these counts.
◤
◥
◣
◢
How to read these counts
Read the per-year figures on this page as deals logged. They count the rows that have been sourced into the ledger for that year, and that is a measure of collection effort rather than of what happened in the market. Counting them across years measures how the sourcing improved, so this page does not compare one year's total against another's.
Against Capstone Partners' own apparel count, the share this ledger holds runs from 14% in 2025 (21 rows against a census of 152) to 37% in 2023 (52 against 140). That is the same ledger against the same publisher across 6 years, so most of what a per-year count series would show is our own sourcing moving, not the market.
Against Capstone Partners' own pet count, the share this ledger holds runs from 6% in 2022 (8 rows against a census of 134) to 18% in 2023 (23 against 128). That is the same ledger against the same publisher across 5 years, so most of what a per-year count series would show is our own sourcing moving, not the market.
What the rows do support: composition inside a single year, price levels, disclosed multiples, and who was buying and selling. 40 of 162 rows carry a normalized USD figure and 10 carry a disclosed multiple, so the multiples table below is short by nature and the price bands are shares of the priced rows only, never of all rows.
A month with no table on this page means nothing was sourced for that month, not that nothing happened. Each deal is logged once.
02/Biggest deals
PLATE 02 · LARGEST
The biggest deals
of 2025.
The 10 largest disclosed prices logged for 2025. 40 of 162 rows that year carry a price.
Table 1 · Largest disclosed deals of 2025Top 10
| Brand | Price | Buyer | Category | Source |
|---|---|---|---|---|
KenvueNovember 2025 · Announced acquisition | $51.4B | Kimberly-Clark | Wellness | ionanalytics.com |
KellanovaDec 8, 2025 · Acquisition, completed | $36B | Mars, Incorporated | Food & bev | fooddive.com |
JDE Peet'sAug 25, 2025 · Announced acquisition | $18B | Keurig Dr Pepper | Food & bev | bevnet.com |
Skechers (NYSE:SKX)May 5, 2025 · Announced acquisition | $11.35B · 1.2x revenue, 7.5x EBITDA | 3G Capital | Apparel | capstonepartners.com |
Creed Fragrance and Kering beauty/fragrance licencesNovember 2025 · Announced acquisition | $4.7B | L'Orealfrom Kering | Beauty | capstonepartners.com |
Hanesbrands (NYSE:HBI)Aug 13, 2025 · Announced acquisition | $4.52B · 1.3x revenue, 7.1x EBITDA | Gildan Activewear | Apparel | capstonepartners.com |
PepsiCo (PEP)Sep 2, 2025 · Announced stake | $4B | Elliott Investment Management (Barnes & Noble owner) | Food & bev | fooddive.com |
WK KelloggJul 10, 2025 · Announced acquisition | $3.1B | Ferrero | Food & bev | fooddive.com |
Guess (IP majority)Aug 20, 2025 · Announced acquisition | $2.4B · 0.8x revenue, 4.1x EBITDA | Authentic Brands Group (IP), with Vince Holding Corp taking the operating business | Apparel | capstonepartners.com |
PoppiMar 17, 2025 · Announced acquisition | $1.95B | PepsiCo (PEP) | Food & bev | bevnet.com |
03/2025 month by month
PLATE 03 · 2025 LEDGER
Every deal logged in
2025, by month.
Table M1 · December 20256 deals logged
| Brand | Category | Price | Buyer | Source |
|---|---|---|---|---|
+PeptideDec 31, 2025 · Announced acquisition · Functional coffee brand; the last beverage deal on Capstone's 2025 table. | Food & bev | Undisclosed | Java | capstonepartners.com |
Lululemon (Nasdaq:LULU)Dec 18, 2025 · Announced stake · Activist investor Elliott built a stake in Lululemon. | Apparel | Undisclosed | Elliott Investment Management (Barnes & Noble owner) | retaildive.com |
49% stake in the maker of Rao's pasta sauceDec 9, 2025 · Announced stake · Campbell's took a 49% stake in the manufacturer behind Rao's, deepening control of its fastest-growing brand. Headline-level detail only. | Food & bev | Undisclosed | The Campbell's Company | fooddive.com |
KellanovaDec 8, 2025 · Acquisition, completed · Mars closed its mega-acquisition of Kellanova. The deal was first announced in August 2024; the 2025 date here is the completion. | Food & bev | $36B | Mars, Incorporated | fooddive.com |
BeatBox BeveragesDec 5, 2025 · Announced acquisition · Party-punch RTD brand acquired by Anheuser-Busch. Capstone's beverage comps table dates the transaction 18 November 2025 at a $576.5mm enterprise value, so signing and announcement appear to sit in different months. | Food & bev | $490M | Anheuser-Busch | fooddive.com |
Maple Hill CreameryDec 2, 2025 · Announced acquisition · Grass-fed organic dairy brand acquired by Horizon Organic. | Food & bev | Undisclosed | Horizon Organic | fooddive.com |
Table M2 · November 20256 deals logged
| Brand | Category | Price | Buyer | Source |
|---|---|---|---|---|
Miyoko's CreameryNov 19, 2025 · Announced acquisition · Plant-based creamery acquired by Melt Organic. | Food & bev | Undisclosed | Melt Organic | nosh.com |
Brand portfolio of Chicago DistillingNov 17, 2025 · Announced acquisition · Chicago craft spirits brand portfolio. | Food & bev | Undisclosed | Brella Beverage | capstonepartners.com |
Creed Fragrance and Kering beauty/fragrance licencesNovember 2025 · Announced acquisition · Purchase of Kering Beaute, including Creed and the Gucci, Bottega Veneta and Balenciaga beauty licences. Source dates it November 2025; wider press coverage of the deal ran from around 20 October 2025, so the month may reflect signing/closing rather than first announcement. | Beauty | $4.7B | L'Orealfrom Kering | capstonepartners.com |
KenvueNovember 2025 · Announced acquisition · Kimberly-Clark's agreed acquisition of Kenvue (Tylenol, Band-Aid, Neutrogena, Listerine). Still pending at the time of the source; it single-handedly drove 2025 North American consumer deal value to a ten-year high. BeautyMatter's 2025 review prints the value as $48.7 billion; the difference reflects equity versus total transaction value. | Wellness | $51.4B | Kimberly-Clark | ionanalytics.com |
Glenora Wine CellarsNov 10, 2025 · Announced acquisition · Finger Lakes winery acquired by FLX Family Winery. | Food & bev | $10.8M | FLX Family Winery | capstonepartners.com |
CaulipowerNov 3, 2025 · Announced acquisition · Better-for-you frozen pizza and cauliflower crust brand bought by a private equity firm. | Food & bev | Undisclosed | private equity firm (not named in headline) | fooddive.com |
Table M3 · October 202516 deals logged
| Brand | Category | Price | Buyer | Source |
|---|---|---|---|---|
Brust BeverageOct 30, 2025 · Announced acquisition · High-protein cold brew coffee brand. | Food & bev | Undisclosed | Clearstone Capital | capstonepartners.com |
Justin'sOct 28, 2025 · Announced stake · Hormel sold control of the nut butter brand to Forward Consumer Partners - a clear 2025 carve-out. | Food & bev | Undisclosed | Forward Consumer Partnersfrom Hormel Foods | nosh.com |
CoterieOct 21, 2025 · Announced acquisition · Harry's parent Mammoth Brands bought premium baby care brand Coterie, extending its multi-brand platform. | Wellness | Undisclosed | Mammoth Brands (Harry's) | retaildive.com |
Phunkshun WearOct 21, 2025 · Announced acquisition · Winter outdoor gear and accessories brand. | Apparel | Undisclosed | Lowerleft Designs | capstonepartners.com |
Kate Somerville SkincareOctober 2025 · Announced acquisition · Carve-out from Unilever's Prestige Beauty division as it continues pruning the portfolio. | Beauty | Undisclosed | Rare Beauty Brandsfrom Unilever | capstonepartners.com |
VinrellaOct 13, 2025 · Announced acquisition · Umbrella and water-resistant fashion accessories brand. | Apparel | Undisclosed | Earthly Way | capstonepartners.com |
Western Son VodkaOct 6, 2025 · Announced acquisition · Texas vodka brand acquired by spirits group Sazerac. | Food & bev | Undisclosed | Sazerac (Buffalo Trace owner) | fooddive.com |
Anastasia Beverly HillsQ4 2025 · Announced stake · Founder bought out TPG's position - one of the year's clearest examples of a founder reclaiming a brand from private equity. | Beauty | $225M | Anastasia Soare (founder)from TPG | beautymatter.com |
BodycareQ4 2025 · Announced acquisition · UK body care brand acquired. | Beauty | Undisclosed | investment group led by Charles Denton | beautymatter.com |
Edgewell feminine care businessQ4 2025 · Announced acquisition · Carve-out of Edgewell's feminine care brands (including Playtex and o.b.) to Essity. | Wellness | $340M | Essityfrom Edgewell Personal Care | beautymatter.com |
FolteneQ4 2025 · Announced acquisition · Italian dermatological haircare brand; Joy Group's second beauty acquisition of the year. | Beauty | Undisclosed | Joy Group | beautymatter.com |
MuuchstacQ4 2025 · Announced acquisition · Indian men's grooming brand acquired by Godrej. | Beauty | Undisclosed | Godrej Consumer Products | beautymatter.com |
NADESHIKOQ4 2025 · Announced acquisition · Japanese beauty brand acquired by AnyMind Group. | Beauty | Undisclosed | AnyMind Group | beautymatter.com |
Noted. AromasQ4 2025 · Announced acquisition · Dupe fragrance brand acquired by eComplete. | Beauty | Undisclosed | eComplete; NVM Private Equity | beautymatter.com |
Obagi Japan trademark rightsQ4 2025 · Announced acquisition · Waldencast sold the Japanese trademark rights to Obagi - an IP-only carve-out. | Beauty | $82.5M | Rohto Pharmaceuticalfrom Waldencast plc (SPAC) | beautymatter.com |
The Wella CompanyQ4 2025 · Announced acquisition · KKR took full control of Wella from Coty - the year's largest professional haircare carve-out. | Beauty | $750M | KKRfrom Coty | beautymatter.com |
Table M4 · September 202519 deals logged
| Brand | Category | Price | Buyer | Source |
|---|---|---|---|---|
Lalo TequilaSep 25, 2025 · Announced stake · Tito's took a majority stake in Lalo Tequila, its first big brand investment. | Food & bev | Undisclosed | Tito's Handmade Vodka | fooddive.com |
Love Your MelonSep 18, 2025 · Acquisition, completed · Founder bought the headwear brand back and relaunched it. | Apparel | Undisclosed | founder (reacquisition) | retaildive.com |
SlimFastSep 18, 2025 · Announced acquisition · Weight-management brand SlimFast changed hands again, bought by the owner of Splenda. | Wellness | Undisclosed | Splenda owner (Heartland Food Products Group) | fooddive.com |
Whiny BabySep 17, 2025 · Announced acquisition · Younger-skewing wine brand acquired by E. & J. Gallo. | Food & bev | Undisclosed | E. & J. Gallo Winery | capstonepartners.com |
AVID SportswearSep 16, 2025 · Announced acquisition · Sportswear designer and producer. | Apparel | Undisclosed | Fortified Equity | capstonepartners.com |
Alor InternationalSep 16, 2025 · Announced acquisition · Jewellery brand acquired by Vibhor. | Apparel | Undisclosed | Vibhor | capstonepartners.com |
Child Craft IndustriesSep 16, 2025 · Announced acquisition · Wooden children's furniture brand. | Home | Undisclosed | Halo Dream | capstonepartners.com |
BYOMASeptember 2025 · Announced acquisition · Science-backed omnichannel skincare brand; Bansk took a majority stake from Yellow Wood. | Beauty | Undisclosed | Bansk Groupfrom Yellow Wood Partners | capstonepartners.com |
CrunchiSeptember 2025 · Announced acquisition · Clean-label cosmetics and skincare brand. | Beauty | Undisclosed | Society Brands | capstonepartners.com |
DickiesSep 15, 2025 · Announced acquisition · VF Corp carved out the Dickies workwear brand to brand-management firm Bluestar Alliance as it continued shrinking its portfolio. Enterprise value and multiples from Capstone's apparel comps table; the seller is named in Retail Dive's coverage (https://www.retaildive.com/news/vf-corp-sells-dickies-bluestar-alliance/760092/). | Apparel | $600M · 1.2x revenue, 20x EBITDA | Bluestar Alliancefrom VF Corp. | capstonepartners.com |
GameGuardSep 15, 2025 · Announced acquisition · Hunting, sport fishing and outdoor apparel and accessories brand. | Apparel | Undisclosed | Killara Outdoors | capstonepartners.com |
SimpliSafeSep 15, 2025 · Announced acquisition · Consumer home security and protection systems brand taken on by PE firm GTCR. | Home | Undisclosed | GTCR | capstonepartners.com |
HodoSep 11, 2025 · Announced acquisition · Organic tofu, soymilk, yuba and ready-to-eat soy brand acquired by Japanese snack maker Calbee. | Food & bev | Undisclosed | Calbee (TSE:2229) | capstonepartners.com |
IZ AdaptiveSep 10, 2025 · Announced acquisition · Adaptive ready-to-wear line for adults with physical disabilities. | Apparel | Undisclosed | Silverts Universal Dressing Solutions | capstonepartners.com |
Bloom NutritionSep 9, 2025 · Announced stake · Nutrabolt moved from minority investor to majority owner of the greens-powder and energy brand. | Wellness | Undisclosed | Nutrabolt (C4 Energy) | bevnet.com |
Mont AlpiSep 9, 2025 · Announced acquisition · Modular outdoor kitchen island and grill brand. | Home | Undisclosed | ShoppersChoice.com | capstonepartners.com |
Silver Springs Bottled WaterSep 7, 2025 · Announced acquisition · Bottled spring, distilled and purified water business. | Food & bev | $25.8M | Crocket Bowie & Travis | capstonepartners.com |
Venture HeatSep 4, 2025 · Announced acquisition · Heated apparel and wearable technology brand. | Apparel | Undisclosed | JustBrand | capstonepartners.com |
PepsiCo (PEP)Sep 2, 2025 · Announced stake · Activist investor took a $4 billion position and pushed for a turnaround at the CPG giant. | Food & bev | $4B | Elliott Investment Management (Barnes & Noble owner) | fooddive.com |
Table M5 · August 20259 deals logged
| Brand | Category | Price | Buyer | Source |
|---|---|---|---|---|
CelsiusAug 29, 2025 · Announced stake · PepsiCo increased its stake in Celsius and made it the strategic energy lead for its US portfolio, bringing Celsius, Alani Nu and Rockstar under one umbrella. | Food & bev | $585M | PepsiCo (PEP) | fooddive.com |
Pasta business of 8th Avenue Food & Provisions (Rizoni brand)Aug 29, 2025 · Announced acquisition · Carve-out of the Rizoni retail pasta brand plus three pasta production and milling facilities from Post Holdings' 8th Avenue platform. | Food & bev | $375M | Richardson Holdingsfrom 8th Avenue Food & Provisions | capstonepartners.com |
JDE Peet'sAug 25, 2025 · Announced acquisition · KDP agreed to buy JDE Peet's and then split itself into a coffee pure-play and a refreshment business - the year's biggest beverage transaction. | Food & bev | $18B | Keurig Dr Pepper | bevnet.com |
Guess (IP majority)Aug 20, 2025 · Announced acquisition · Authentic Brands took the contemporary apparel and accessories group private. | Apparel | $2.4B · 0.8x revenue, 4.1x EBITDA | Authentic Brands Group (IP), with Vince Holding Corp taking the operating business | capstonepartners.com |
SOM FootwearAug 19, 2025 · Announced acquisition · Minimalist footwear maker acquired by Softstar Shoes. | Apparel | Undisclosed | Softstar Shoes | capstonepartners.com |
Dennis & LeenAug 18, 2025 · Announced acquisition · Handcrafted high-end furniture brand bought by RH. | Home | Undisclosed | Restoration Hardware (NYSE:RH) | capstonepartners.com |
Michael Taylor DesignsAug 18, 2025 · Announced acquisition · Furniture, outdoor and accessories brand bought by RH alongside Dennis & Leen. | Home | Undisclosed | Restoration Hardware (NYSE:RH) | capstonepartners.com |
Hanesbrands (NYSE:HBI)Aug 13, 2025 · Announced acquisition · Innerwear group acquired by Gildan - the largest apparel transaction of the year by enterprise value. | Apparel | $4.52B · 1.3x revenue, 7.1x EBITDA | Gildan Activewear | capstonepartners.com |
Copper and Kings American BrandyAug 5, 2025 · Announced acquisition · Craft American brandy distiller. | Food & bev | Undisclosed | Bourdon Spirits | capstonepartners.com |
Table M6 · July 202510 deals logged
| Brand | Category | Price | Buyer | Source |
|---|---|---|---|---|
Health-AdeJul 29, 2025 · Announced acquisition · Kombucha brand acquired by Generous Brands. | Food & bev | Undisclosed | Generous Brands | fooddive.com |
Dyla BrandsJul 24, 2025 · Announced acquisition · Drink-mix maker (Forto, Stur) acquired by KDP. | Food & bev | Undisclosed | Keurig Dr Pepper | bevnet.com |
Tia LupitaJul 21, 2025 · Announced acquisition · Mexican-inspired hot sauce and tortilla brand acquired by Jumex distributor Vilore Foods. | Food & bev | Undisclosed | Vilore Foods | nosh.com |
PhlurJuly 2025 · Announced acquisition · Influencer-led fragrance brand; a PE-to-PE exit for Prelude. | Beauty | Undisclosed | TSG Consumer Partnersfrom Prelude Growth Partners (lead), with Willow Growth, Joyance Partners and Able Partners | capstonepartners.com |
Willamette Valley Pie CompanyJul 15, 2025 · Announced acquisition · Pie brand acquired by PE-backed platform Dessert Holdings. | Food & bev | Undisclosed | Dessert Holdings | nosh.com |
WK KelloggJul 10, 2025 · Announced acquisition · The landmark 2025 food deal: Ferrero bought the North American cereal business, taking WK Kellogg private two years after its spin-off from Kellanova. | Food & bev | $3.1B | Ferrero | fooddive.com |
AmalaQ3 2025 · Announced acquisition · Organic luxury skincare brand acquired. | Beauty | Undisclosed | Fundamental Brands Inc. | beautymatter.com |
Biophyto GenesisQ3 2025 · Announced acquisition · Dermatological skincare brand acquired by Joy Group. | Beauty | Undisclosed | Joy Group | beautymatter.com |
Elmer's & Toagosei joint venture (50% stake and U.S. rights to Krazy Glue)Jul 1, 2025 · Stake, completed · Newell sold its 50% JV stake plus U.S. rights to the Krazy Glue brand to its JV partner - a clean example of 2025 carve-out activity. | Home | Undisclosed | Toagosei Americafrom Newell Brands (Nasdaq:NWL) | capstonepartners.com |
KVD BeautyQ3 2025 · Announced acquisition · Vegan colour cosmetics brand carved out of LVMH's Kendo incubator. | Beauty | Undisclosed | Windsong Globalfrom Kendo Brands | beautymatter.com |
Table M7 · June 20258 deals logged
| Brand | Category | Price | Buyer | Source |
|---|---|---|---|---|
Dr. SquatchJun 23, 2025 · Announced acquisition · Men's natural personal care brand. Unilever's release does not state a price; trade and wire coverage the same week put it at about $1.5 billion. Seller was TSG Consumer Partners per press reports, not named in the release. | Beauty | Undisclosed | Unilever | unilever.com |
ColorWowJune 2025 · Announced acquisition · U.S. haircare brand, acquired alongside Medik8 in L'Oreal's June double-play. | Beauty | Undisclosed | L'Oreal | capstonepartners.com |
Juniper PetJune 2025 · Announced acquisition · Pet brand acquisition listed in Peakstone's pet M&A update. Peakstone also notes the Q2 2025 median pet transaction value was $18 million with strategics at 93% of deal count. | Pet | Undisclosed | Quality Media | peakstonegroup.com |
Medik8June 2025 · Announced acquisition · U.K. science-led skincare brand; L'Oreal's largest beauty bolt-on of the year. | Beauty | $1.1B | L'Oreal | capstonepartners.com |
8th Avenue Food & ProvisionsJun 4, 2025 · Announced acquisition · Post bought out the rest of its 8th Avenue platform, then sold the pasta business on within about two months. | Food & bev | $880M | Post Holdings | fooddive.com |
Rowdy MermaidJun 3, 2025 · Announced acquisition · Kombucha and adaptogenic soda brand; second Next In Natural roll-up deal of the year. | Food & bev | Undisclosed | Next In Natural | bevnet.com |
Sports Licensing SolutionsJun 2, 2025 · Announced acquisition · Licensed sports-themed home and automotive decor maker. | Home | Undisclosed | Logo Brands | capstonepartners.com |
Sundrella Outdoor FurnishingsJun 1, 2025 · Announced acquisition · Outdoor furnishings and accessories brand. | Home | Undisclosed | Campania International | capstonepartners.com |
Table M8 · May 202515 deals logged
| Brand | Category | Price | Buyer | Source |
|---|---|---|---|---|
The Creme ShopMay 30, 2025 · Announced acquisition · Korean beauty-inspired colour cosmetics brand acquired by Korean strategic LG Household & Health Care. | Beauty | $190.3M | LG H&H Co., Ltd. (KRX: 051900) | capstonepartners.com |
Faultless BrandsMay 29, 2025 · Announced acquisition · Fabric care, laundry aid, home cleaning and air care brand portfolio. | Home | Undisclosed | Architect Equity | capstonepartners.com |
Vulcan PickleballMay 29, 2025 · Announced acquisition · Pickleball equipment and apparel supplier. | Other | Undisclosed | Chaifetz Group; Stack Athletics | capstonepartners.com |
DormifyMay 28, 2025 · Announced acquisition · Dorm-room decor brand acquired by Williams-Sonoma. | Home | Undisclosed | Williams-Sonoma (NYSE:WSM) | capstonepartners.com |
rhodeMay 28, 2025 · Announced acquisition · Hailey Bieber's multi-category DTC beauty brand; one of the year's landmark indie-to-strategic exits. | Beauty | $1B · 4.7x revenue | e.l.f. Beauty | capstonepartners.com |
Don Pepino and Sclafani brandsMay 27, 2025 · Acquisition, completed · B&G Foods divested its Don Pepino and Sclafani tomato brands as part of a portfolio reshaping; Amphora-backed Violet Foods was the buyer. | Food & bev | Undisclosed | Violet Foodsfrom B&G Foods | fooddive.com |
ModereMay 23, 2025 · Announced acquisition · Direct-selling personal care business (skincare, haircare, nailcare) bought by wellness direct seller Shaklee. | Beauty | Undisclosed | Shaklee | capstonepartners.com |
Richer PoorerMay 20, 2025 · Announced acquisition · DTC swimwear brand Andie bought basics brand Richer Poorer - a rare DTC-buys-DTC deal. | Apparel | Undisclosed | Andie | retaildive.com |
Daily HarvestMay 16, 2025 · Announced acquisition · Frozen ready-to-make meal brand, valued at $1.1 billion in its 2021 round, sold to Chobani for an undisclosed sum - a marker of the DTC reset. | Food & bev | Undisclosed | Chobani, buying back from Keurig Dr Pepper | fooddive.com |
DockersMay 2025 · Announced acquisition · Levi's sold the Dockers intellectual property to Authentic Brands - an asset-light brand-platform deal typical of 2025 apparel M&A. | Apparel | $280.3M | Authentic Brands Group (IP), with Vince Holding Corp taking the operating businessfrom Levi Strauss & Co. | capstonepartners.com |
Kate FarmsMay 12, 2025 · Announced acquisition · Medical and plant-based nutrition shake brand acquired by Danone. | Wellness | Undisclosed | Danone | capstonepartners.com |
TouchlandMay 12, 2025 · Announced acquisition · Premium hand sanitiser brand; among the highest EBITDA multiples printed in consumer in 2025. | Beauty | $880M · 6.8x revenue, 16x EBITDA | Church & Dwight | capstonepartners.com |
Mary's Gone CrackersMay 8, 2025 · Announced acquisition · Gluten-free cracker pioneer sold to a Dare Foods subsidiary. | Food & bev | Undisclosed | Dare Foods subsidiary | nosh.com |
Skechers (NYSE:SKX)May 5, 2025 · Announced acquisition · The largest footwear take-private of the year; 3G Capital bought the whole company. | Apparel | $11.35B · 1.2x revenue, 7.5x EBITDA | 3G Capital | capstonepartners.com |
Chef BoyardeeMay 1, 2025 · Announced acquisition · Canned pasta brand carved out of Conagra. The tracker attributes it to an unnamed private equity buyer. | Food & bev | $600M | private equity buyerfrom Conagra Brands | fooddive.com |
Table M9 · April 202510 deals logged
| Brand | Category | Price | Buyer | Source |
|---|---|---|---|---|
Longevity Health (Nasdaq:XAGE)Apr 14, 2025 · Announced acquisition · Bio-aesthetics company acquired by biotech 20/20 GeneSystems. | Wellness | $50M | 20/20 GeneSystems | capstonepartners.com |
Wine brands and production facilities of Constellation BrandsApr 9, 2025 · Announced acquisition · The year's largest wine carve-out: Constellation sold a large slice of its mainstream wine portfolio, including Woodbridge and Robert Mondavi labels, to The Wine Group. | Food & bev | $900M | The Wine Groupfrom Constellation Brands | capstonepartners.com |
Lobos 1707Apr 7, 2025 · Announced acquisition · Tequila brand; LeBron James-backed, acquired outright by Diageo. | Food & bev | Undisclosed | Diageo | capstonepartners.com |
Peak and ValleyApr 5, 2025 · Announced acquisition · Herbal wellness powder and capsule brand for brain, stress, sleep and skin health. | Wellness | Undisclosed | Wellkasa | capstonepartners.com |
Bread Beauty SupplyApr 3, 2025 · Announced acquisition · Haircare brand for naturally curly and oily hair. | Beauty | Undisclosed | CODB Holdings | capstonepartners.com |
LesserEvilApr 3, 2025 · Announced acquisition · Better-for-you popcorn and puffed snack brand. Hershey later disclosed the price at about $750 million in its own reporting; this source lists no value. | Food & bev | Undisclosed | The Hershey Company | capstonepartners.com |
Mela Watermelon WaterApr 2, 2025 · Announced acquisition · Watermelon water brand acquired by Calypso lemonade owner. | Food & bev | Undisclosed | Calypso (King Juice Company) | bevnet.com |
Freck BeautyQ2 2025 · Announced acquisition · Freckle-makeup brand changed hands. | Beauty | Undisclosed | undisclosed investors | beautymatter.com |
TPH by TarajiQ2 2025 · Announced acquisition · Founder bought her haircare brand back from brand incubator Maesa. | Beauty | Undisclosed | Taraji P. Hensonfrom Maesa | beautymatter.com |
WildApr 1, 2025 · Acquisition, completed · Refillable natural deodorant and personal care brand Wild acquired outright by Unilever. | Beauty | Undisclosed | Unilever | unilever.com |
Table M10 · March 202519 deals logged
| Brand | Category | Price | Buyer | Source |
|---|---|---|---|---|
Collective ProjectMar 31, 2025 · Announced acquisition · Cannabis-infused beverage brand. | Food & bev | $21.1M | Organigram (TSX:OGI) | capstonepartners.com |
Get Raw NutritionMar 31, 2025 · Announced acquisition · Sports nutrition supplement brand. | Wellness | Undisclosed | The Quality Group | capstonepartners.com |
AvolioMar 26, 2025 · Announced stake · Fresh Del Monte took majority control of high-value specialty avocado oil business Avolio. | Food & bev | Undisclosed | Fresh Del Monte Produce | nosh.com |
GeologieMar 25, 2025 · Announced acquisition · Men's tailored skincare brand acquired by Latin American pharma group Megalabs. | Beauty | Undisclosed | Megalabs USA | capstonepartners.com |
Pura VidaMar 21, 2025 · Announced acquisition · Vera Bradley divested the Pura Vida bracelet and accessories brand to Edible Brands. | Apparel | Undisclosed | Edible Brandsfrom Vera Bradley | retaildive.com |
SKNN by KimMar 21, 2025 · Announced acquisition · Kim Kardashian's skincare brand folded into Skims Body. Seller identified as Coty in BeautyMatter's 2025 beauty deal review (https://beautymatter.com/articles/2025-beauty-deals-fewer-bigger-more-strategic). | Beauty | $370M | Skims Bodyfrom Coty | capstonepartners.com |
The Vegetarian ButcherMar 20, 2025 · Announced acquisition · Plant-based meat brand divested by Unilever to Dutch peer Vivera - part of the year's CPG portfolio pruning. | Food & bev | Undisclosed | Viverafrom Unilever | unilever.com |
Look BeautyMar 17, 2025 · Announced acquisition · Animal-print face sheet mask brand. | Beauty | Undisclosed | Upper Canada Soap & Candle Makers | capstonepartners.com |
PoppiMar 17, 2025 · Announced acquisition · Prebiotic soda brand bought by PepsiCo; the defining better-for-you beverage exit of the year. | Food & bev | $1.95B | PepsiCo (PEP) | bevnet.com |
Purple InnovationMar 17, 2025 · Announced sale process · Mattress brand began a review of strategic alternatives including a sale or merger. | Home | Undisclosed | Not named | retaildive.com |
Bauhaus Furniture Group assetsMarch 2025 · Announced acquisition · Upholstered furniture maker's assets acquired by The RW Collective. | Home | Undisclosed | The RW Collective | capstonepartners.com |
SerVaas Laboratories (Bar Keepers Friend)March 2025 · Announced acquisition · Bar Keepers Friend household cleaning brand parent acquired by Forward Consumer Partners. | Home | Undisclosed | Forward Consumer Partners | capstonepartners.com |
Assets of Pruvit VenturesMar 12, 2025 · Announced acquisition · Patented ketone supplement assets bought by Herbalife. | Wellness | $19M | Herbalife | capstonepartners.com |
8GreensMar 11, 2025 · Announced acquisition · Gummy, tablet and powder greens supplement brand. | Wellness | Undisclosed | Grove Collaborative | capstonepartners.com |
BirdiesMar 11, 2025 · Announced acquisition · DTC women's footwear brand acquired by KNS International. | Apparel | Undisclosed | KNS International | retaildive.com |
BIA SkinMar 9, 2025 · Announced acquisition · Body care and skincare brand. | Beauty | Undisclosed | Luxury Brands | capstonepartners.com |
Carol's DaughterMar 3, 2025 · Announced acquisition · Founder Lisa Price bought her natural hair and body care brand back from L'Oreal - a founder buy-back carve-out. | Beauty | Undisclosed | Lisa Price; Joe Wongfrom L'Oreal | capstonepartners.com |
Dutch Gold HoneyMar 3, 2025 · Announced acquisition · Branded honey producer and packer taken on by PE firm New Water Capital. | Food & bev | Undisclosed | New Water Capital | capstonepartners.com |
Howler HeadMar 1, 2025 · Announced acquisition · Banana-flavoured bourbon and whiskey brand. | Food & bev | Undisclosed | Infinium Spirits | capstonepartners.com |
Table M11 · February 202515 deals logged
| Brand | Category | Price | Buyer | Source |
|---|---|---|---|---|
RootineFeb 28, 2025 · Announced acquisition · Branded functional and hydration supplement business. | Wellness | Undisclosed | Rhodium Software | capstonepartners.com |
SIO BeautyFeb 25, 2025 · Announced acquisition · Medical-grade silicone patch brand for face, neck and decollete. | Beauty | Undisclosed | Rhodium | capstonepartners.com |
Prai BeautyFeb 24, 2025 · Announced acquisition · Skincare brand targeting women over 45. | Beauty | Undisclosed | Luxury Brands | capstonepartners.com |
Alani Nutrition (Alani Nu)Feb 20, 2025 · Announced acquisition · Female-focused energy drink and supplement brand. The multiples here are among the most useful datapoints of the 2025 beverage cycle. Press coverage names Congo Brands as the selling shareholder group; this source does not. | Wellness | $1.89B · 3.2x revenue, 13.8x EBITDA | Celsius | capstonepartners.com |
Aura BoraFeb 19, 2025 · Announced acquisition · Herbal sparkling water brand acquired by brand aggregator Next In Natural. | Food & bev | Undisclosed | Next In Natural | bevnet.com |
Helly HansenFeb 19, 2025 · Announced acquisition · Norwegian outerwear brand. A carve-out - press reports name Canadian Tire as the seller, though this source does not. | Apparel | $897M · 1.4x revenue, 12.5x EBITDA | Kontoor Brands (NYSE:KTB) | capstonepartners.com |
Boxed WaterFeb 13, 2025 · Announced acquisition · Carton water brand sold to an unnamed private investment group. | Food & bev | Undisclosed | private investment group | bevnet.com |
Grab GreenFeb 13, 2025 · Announced acquisition · Natural home cleaning brand added to Grove Collaborative's portfolio. | Home | Undisclosed | Grove Collaborative | retaildive.com |
PrimaFeb 12, 2025 · Announced acquisition · Science-backed whole-body wellness brand spanning skincare, body care and supplements. | Beauty | Undisclosed | Sky Marketing | capstonepartners.com |
Artisan BeveragesFeb 10, 2025 · Announced acquisition · RTD cocktail manufacturer. | Food & bev | $63.2M | NFiniTi (OTCPK:NFTN) | capstonepartners.com |
Rich Hair CareFeb 7, 2025 · Announced acquisition · Premium haircare brand. | Beauty | Undisclosed | Catalyst Consult Americas | capstonepartners.com |
RISE Brewing Co.Feb 5, 2025 · Announced acquisition · Nitro cold brew brand acquired by UPTIME Energy. | Food & bev | Undisclosed | UPTIME Energy | bevnet.com |
CanPrev Natural Health ProductsFeb 3, 2025 · Announced acquisition · Canadian vitamins, minerals and natural health brand bought by Apotex. | Wellness | Undisclosed | Apotex | capstonepartners.com |
EyePromiseFeb 3, 2025 · Announced acquisition · Ocular health supplement brand. | Wellness | Undisclosed | PRN | capstonepartners.com |
VitOrganFeb 3, 2025 · Announced acquisition · Biomolecular health products business. | Wellness | $39M | GivBux (OTCPK:GBUX) | capstonepartners.com |
Table M12 · January 202529 deals logged
| Brand | Category | Price | Buyer | Source |
|---|---|---|---|---|
Cloverhill and Big Texas brandsJan 31, 2025 · Announced acquisition · Sweet baked goods brands carved out of J.M. Smucker, along with certain private label products. | Food & bev | $40M · 1.3x revenue | JTM Foodsfrom J.M. Smucker (NYSE:SJM) | capstonepartners.com |
Fever-Tree (LSE:FEVR)Jan 30, 2025 · Announced stake · Molson Coors took an 8.5% equity stake alongside a US distribution agreement for the premium mixer brand. | Food & bev | Undisclosed | Molson Coors | bevnet.com |
Island Abbey FoodsJan 27, 2025 · Announced acquisition · Honibe honey-based supplement maker acquired by Israeli gummy specialist TopGum. | Wellness | $20M | TopGum Industries (TASE:TPGM) | capstonepartners.com |
Tone It UpJan 27, 2025 · Announced acquisition · Fitness and lifestyle brand selling supplements, shakes and protein bars. | Wellness | Undisclosed | GoSaga | capstonepartners.com |
Power CrunchJan 24, 2025 · Announced acquisition · Branded protein bar business - an early 2025 Ferrero U.S. bolt-on ahead of its much larger WK Kellogg deal. | Food & bev | Undisclosed | Ferrero (USA) | capstonepartners.com |
Mammoth Pet Products assetsJan 22, 2025 · Announced acquisition · Pet toy brand assets acquired by SportPet Designs. | Pet | Undisclosed | SportPet Designs | capstonepartners.com |
MinimalistJan 22, 2025 · Announced acquisition · HUL agreed to buy the Indian premium actives-led skincare brand Minimalist, its first big India beauty bolt-on of the year. | Beauty | Undisclosed | Unilever (Hindustan Unilever) | unilever.com |
RuckPackJan 17, 2025 · Announced acquisition · Caffeine-free nutritional supplement and shot brand. | Wellness | Undisclosed | C&H Precision | capstonepartners.com |
SpindriftJan 16, 2025 · Announced stake · Sparkling water brand sold a majority stake to private equity and named a former Boston Beer executive CEO. | Food & bev | Undisclosed | private equity investor | fooddive.com |
Reebok Design Group and U.S. operationsJanuary 2025 · Announced acquisition · Operating side of Reebok moved to licensee Galaxy Universal while Authentic retained the brand IP. | Apparel | Undisclosed | Galaxy Universalfrom Authentic Brands Group (IP), with Vince Holding Corp taking the operating business | capstonepartners.com |
Vertage FoodsJan 15, 2025 · Announced acquisition · Plant-based cheese brand acquired by fellow vegan cheese maker Misha's. | Food & bev | Undisclosed | Misha's | capstonepartners.com |
Metabolic Maintenance ProductsJan 14, 2025 · Announced acquisition · Practitioner-channel supplement maker. | Wellness | Undisclosed | WM Partners; Allergy Research Group | capstonepartners.com |
Simple MillsJan 8, 2025 · Announced acquisition · Better-for-you cracker, cookie, snack bar and baking mix brand - Flowers Foods' largest better-for-you acquisition. | Food & bev | $795M | Flowers Foods | capstonepartners.com |
Yerbae Brands (TSXV:YERB.U)Jan 8, 2025 · Announced acquisition · Plant-based energy beverage brand taken over by Safety Shot in a public-to-public deal. | Food & bev | $22.2M · 3.8x revenue | Safety Shot (Nasdaq:SHOT) | capstonepartners.com |
LaunchlabJan 7, 2025 · Announced acquisition · Maker of pet accessories including beds, acquired by Paw Acquisition I. | Pet | Undisclosed | Paw Acquisition I | capstonepartners.com |
Sauer BrandsJan 6, 2025 · Announced acquisition · Duke's Mayo parent; branded extracts, spices, mixes and sauces business bought by Advent International. | Food & bev | Undisclosed | Advent International | capstonepartners.com |
AmouageQ1 2025 · Announced stake · L'Oreal took a minority stake in the Omani luxury fragrance house. | Beauty | Undisclosed | L'Oreal | beautymatter.com |
ClockworkQ1 2025 · Announced acquisition · Robotic manicure company acquired by nail-tech peer 10Beauty. | Beauty | Undisclosed | 10Beauty | beautymatter.com |
Elevai SkincareQ1 2025 · Announced acquisition · Exosome skincare brand acquired by Carmell. | Beauty | Undisclosed | Carmell Corporation | beautymatter.com |
Huda BeautyQ1 2025 · Announced stake · Founders bought back TSG's stake, taking the brand back into full founder ownership. | Beauty | Undisclosed | Huda Beauty foundersfrom TSG Consumer Partners | beautymatter.com |
Jacquemus (5% stake)Q1 2025 · Announced stake · L'Oreal took a minority stake in the French fashion house, pairing investment with a beauty licence ambition. | Apparel | Undisclosed | L'Oreal | beautymatter.com |
KayaliQ1 2025 · Announced acquisition · Fragrance brand separated from Huda Beauty with General Atlantic backing its co-founder. | Beauty | Undisclosed | General Atlantic; Mona Kattanfrom Huda Beauty | beautymatter.com |
Lake & SkyeQ1 2025 · Announced acquisition · Clean fragrance brand acquired by Tru Fragrance. | Beauty | Undisclosed | Tru Fragrance | beautymatter.com |
Maison GoutalQ1 2025 · Announced acquisition · French perfume house carved out of Amorepacific. | Beauty | Undisclosed | Interparfumsfrom Amorepacific | beautymatter.com |
Sitting Pretty Halo HairQ1 2025 · Announced acquisition · Hair extension brand acquired by Covet & Mane. | Beauty | Undisclosed | Covet & Mane | beautymatter.com |
SolomomoQ1 2025 · Announced acquisition · One of three brands (with SiO Beauty and Rootine) rolled up by Rhodium in Q1. | Beauty | Undisclosed | Rhodium | beautymatter.com |
Urban Skin RxQ1 2025 · Announced acquisition · Melanin-rich skincare brand acquired by American Exchange Group. | Beauty | Undisclosed | American Exchange Group | beautymatter.com |
Wander BeautyQ1 2025 · Announced acquisition · DTC colour and skincare brand acquired by brand aggregator Nameless CPG. | Beauty | Undisclosed | Nameless CPG | beautymatter.com |
Wolf ProjectQ1 2025 · Announced acquisition · Men's skincare brand acquired by Hakkawise. | Beauty | Undisclosed | Hakkawise | beautymatter.com |
Work with Taylor
Talk about your exit
Every row here is a company that either timed it or ran out of time. I have sat on the buy side of deals like these. If an exit is anywhere in your next two years, I can tell you what a buyer will actually pay for, and what is quietly capping it.
04/Category composition
PLATE 04 · MIX
What 2025 was made of,
by category.
162 deals logged in 2025. The rows below sum to that figure.
Table 2 · 2025 composition by categoryShare of the year's rows
| Category | Total items logged | Share of ledger | With a disclosed price | Largest disclosed |
|---|---|---|---|---|
Food & bev | 54 | 33.3% | 18 | $36B |
Beauty | 49 | 30.2% | 9 | $4.7B |
Apparel | 21 | 13.0% | 6 | $11.35B |
Wellness | 20 | 12.3% | 7 | $51.4B |
Home | 14 | 8.6% | 0 | Not disclosed |
Pet | 3 | 1.9% | 0 | Not disclosed |
Other | 1 | 0.6% | 0 | Not disclosed |
05/Price levels
PLATE 05 · PRICE BANDS
Where the disclosed
prices landed in 2025.
Bands over the 40 rows from 2025 that carry a normalized USD figure, never over the whole year.
Table 3 · 2025 disclosed price bandsShare of the 40 priced rows
| Price band | Deals logged | Share of priced rows |
|---|---|---|
$1B and above | 13 | 32.5% |
$250M to $1B | 14 | 35.0% |
$50M to $250M | 5 | 12.5% |
$10M to $50M | 8 | 20.0% |
Under $10M | 0 | 0.0% |
06/Disclosed multiples
PLATE 06 · MULTIPLES
Published multiples,
2025.
10 of the 162 rows from 2025 carry a revenue or EBITDA multiple. Read them as the disclosed cases, not as a distribution.
Table 4 · 2025 rows with a disclosed multiple10 rows
| Brand | Price | Multiple | Buyer | Category | Source |
|---|---|---|---|---|---|
DickiesSep 15, 2025 · Announced acquisition | $600M | 1.2x revenue, 20x EBITDA | Bluestar Alliancefrom VF Corp. | Apparel | capstonepartners.com |
Guess (IP majority)Aug 20, 2025 · Announced acquisition | $2.4B | 0.8x revenue, 4.1x EBITDA | Authentic Brands Group (IP), with Vince Holding Corp taking the operating business | Apparel | capstonepartners.com |
Hanesbrands (NYSE:HBI)Aug 13, 2025 · Announced acquisition | $4.52B | 1.3x revenue, 7.1x EBITDA | Gildan Activewear | Apparel | capstonepartners.com |
rhodeMay 28, 2025 · Announced acquisition | $1B | 4.7x revenue | e.l.f. Beauty | Beauty | capstonepartners.com |
TouchlandMay 12, 2025 · Announced acquisition | $880M | 6.8x revenue, 16x EBITDA | Church & Dwight | Beauty | capstonepartners.com |
Skechers (NYSE:SKX)May 5, 2025 · Announced acquisition | $11.35B | 1.2x revenue, 7.5x EBITDA | 3G Capital | Apparel | capstonepartners.com |
Alani Nutrition (Alani Nu)Feb 20, 2025 · Announced acquisition | $1.89B | 3.2x revenue, 13.8x EBITDA | Celsius | Wellness | capstonepartners.com |
Helly HansenFeb 19, 2025 · Announced acquisition | $897M | 1.4x revenue, 12.5x EBITDA | Kontoor Brands (NYSE:KTB) | Apparel | capstonepartners.com |
Cloverhill and Big Texas brandsJan 31, 2025 · Announced acquisition | $40M | 1.3x revenue | JTM Foodsfrom J.M. Smucker (NYSE:SJM) | Food & bev | capstonepartners.com |
Yerbae Brands (TSXV:YERB.U)Jan 8, 2025 · Announced acquisition | $22.2M | 3.8x revenue | Safety Shot (Nasdaq:SHOT) | Food & bev | capstonepartners.com |
07/Year ledgers
PLATE 07 · BY YEAR
The other years,
and the full ledger.
⊕ Work with Taylor · Consumer Commerce
Reading the tape, or getting ready to be on it?
I've run buy-side diligence and quality-of-earnings work on consumer brands, and built brands sold into a nine-figure portfolio. If you're a year or two from a potential exit, I can tell you where your real number sits, what an acquirer will actually pay, and what's quietly capping it, before a buyer does. The form takes two minutes.
Start a conversation More about Taylor →