News Briefs

Coty has entered into a binding letter of intent to sell a portion of its Wella stake to IGF Wealth Management.

The beauty company will sell a 3.6% stake in Wella for $150 million, which is subject to the completion of due diligence and reflects a 4% premium to the book value of the brand as of March 31, 2023.

Following the transaction, Coty will retain a 22.3% stake in Wella with an implied valuation of approximately $900 million.

“Today’s announcement is a milestone for Coty, as the partial monetization of our Wella stake reinforces the strength of our balance sheet, with no debt maturities in the next 2 years and our remaining Wella stake carrying an implied valuation of approximately $900 million,” said Laurent Mercier, chief financial officer of Coty. “The expected transaction is a concrete step in our commitment to both fully divest our retained Wella stake and reach leverage of approximately 2x by end of CY25. Coupling this deleveraging with a best-in-class medium term growth algorithm, an active capital return program, including $400 million in targeted future share buybacks, and the continued momentum in our business, it is clear that we are reinforcing Coty’s position as a beauty powerhouse.”

Precious Mineralz has announced the debut of its Out of Mountains skin care line, which consists of seven products. The brand touts the use of halloysite, a nanotubular clay famous for its tubular shape, to create products designed to enhance skin health naturally.

The company said this invisible ingredient contains anti-aging ingredients delivered to the skin’s cellular level with time-release properties. Unique to the industry, halloysite products are ethically and responsibly formulated (clean), sustainable, vegan, cruelty-free and in recyclable containers. 

Freshie is putting a twist on the ready-to-drink cocktail aisle with the launch of its beverages.

The organic canned tequila seltzers, which are USDA-certified, contain 99 calories per serving and come in three flavors — lime, grapefruit guava and blood orange habanero.

Founded in 2016 by husband and wife duo Ryne and Paige Iseminger, the beverages are made utilizing four ingredients — Blanco tequila, sparkling water, lime and agave nectar, the company said.

Consumers can find Freshie’s caned tequila seltzers available for purchase in Illinois, Atlanta, Florida and Georgia.

Campbell’s is launching two gluten-free cooking soups—cream of mushroom and cream of chicken.

The gluten-free cream of chicken soup contains fresh cream and chicken meat free from antibiotics, while the gluten-free cream of mushroom soup contains mushrooms, garlic, fresh cream and no preservatives, the company said.

“Answering the question of ‘what’s for dinner’ can be challenging for those trying to avoid gluten,” said Gary Mazur, vice president of marketing, soup and broth at Campbell Soup Company. “Through these new offerings, we’re excited to have our iconic soups help address dietary needs and create even more mealtime moments.”

Consumers can find the Campbell’s Condensed Gluten Free soup line available for purchase at retail shelves nationwide for a suggested price of $1.99.

There’s a new flavor joining the Snickers family — butterscotch scoop.

Inspired by the classic butterscotch flavor, the limited-edition bar combines milk chocolate, peanuts and caramel with a butterscotch-flavored nougat.

“At Mars, we are always looking for new ways to excite long-time Snickers fans, especially through innovative new flavors,” said Martin Terwilliger, senior marketing director at Mars Wrigley. “With Snickers butterscotch scoop, we’re offering a new format to enjoy a classic flavor, ushering in the summer season to help fans create moments of everyday happiness.”

Consumers can find Snickers’ limited-edition butterscotch scoop flavor exclusively at Walmart in s single size and stand-up pouch with fun-size bars.

CV Sciences, the makers of +PlusCBD, is debuting Daily Balance Tinctures.

The product is the latest addition to their recently launched wellness line, Daily Balance.

The tinctures provide a daily supplement that contains the benefits of CBD, THC and other cannabinoids in their purest form, CV Sciences said.

With 2000 mg of CBD Oil, the company noted that this is +PlusCBD's most potent formula.