Legacy CPG firms are buying challenger brands to modernize and reach younger buyers. Deal value doubled in Q1 2026 versus the prior year. Barilla bought Goodles, Ferrero bought Purely Elizabeth, Unilever bought Grüns. P&G agreed to buy Thorne for $3.8 billion. Constellation Brands bought Hopwtr. Graza is exploring a sale after shaking up olive oil packaging. Challenger brands use AI to move faster in marketing. Liquid Death builds an AI-native marketing organization. Poppi relies on gut instinct for cultural partnerships. Athletic Brewing raised national media spend by 120%.
- deal value doubled in Q1 2026
- $3.8B P&G deal for Thorne
Sources