the Joshua Schall Audio Experience

The tragic death of a Texas teen allegedly from an energy drink is heartbreaking (full stop). But when government officials (like Texas Attorney General) attempt to connect the dots between “bright packaging aesthetics” and energy drink brands deceptively marketing to minors…it ends up sounding downright silly. As a parent, I'm totally onboard with protecting children…but banning colorful cans won't fix a lack of consumer awareness on safe caffeine limits for developing bodies. And I don't want to get into the energy drinks versus coffee debate, but what I will say is that at least energy drinks labeling (especially Alani Nu and CELSIUS) voluntarily lists the caffeine amount clear as day…along with carrying specific statements on age (and maturity) of the user. These serve as an example of the corporate responsibility from these beverage companies that provide a clear statement that the products aren't to be used by children. Now, if there are specific issues, supported by data, like the need for font size to be larger than currently required by Federal Law on some areas of energy drinks so that they are easier to see, as that would be more beneficial to inform consumers, I'm confident any industry stakeholder would be happy to explore those conversations with the FDA (or any government official) and find ways of working together for the benefit of all concerned parties. But I'm curious…would you support an age-restriction law on energy drinks in the United States?

Target is secretly turning into a scaled-up Trader Joe's, executing the largest transition of its grocery department layout in more than a decade. Almost half of its grocery assortment has been overhauled, not to mention a huge expansion of health and wellness items. Also, Target just slashed prices on over ten thousand everyday grocery items. Plus, they spent BIG on new high-tech mega-warehouses…just to get fresh food to shelves two days faster than before. The result? In Target's latest financial results, the retailer disclosed that food and beverage sales surged just over 7% YoY, approaching $6 billion for the quarter. And more than half of all Target shoppers now leave with groceries. So, have you purchased groceries at Target lately?

Let's just hope the MyProtein packaging I just saw was some mistake or they've got some explaining to do! THG (aka the company formerly known as The Hut Group) recently updated the public markets by releasing its H1 2026 results. I'll be utilizing all available publicly disclosed information to obviously update you on the recent performance of THG Nutrition division, which includes the world's largest online sports nutrition brand MyProtein. Additionally, due to the THG Ingenuity demerger action occurring at the end of 2024, the up-to-date THG portfolio configuration now would be described as a global, cash generative, health and wellness consumer brands group. During the first half of 2026, THG Nutrition revenue was approximately $444 million, which increased 9.2% YoY. THG Nutrition delivered its sixth consecutive quarter of revenue growth. Moreover, momentum was said to be broad-based across sales channels and categories (especially outside of the core protein range like creatine). But I'll dive into several strategic decisions impacting MyProtein including its global digital sales channel strategy, offline retail expansion efforts, product licensing strategy, and let's just say A LOT is riding on the success of the MyProtein global rebrand that delivered across 2023 and 2024. But within this earnings presentation deck there was this picture of MyProtein products that had a very different visual identity, which are an 180-degree turnback in the other direction. THG Nutrition still mainly deploys a global digital-first commerce strategy, with around 84% of its total revenue coming from direct-to-consumer, online marketplaces, and social commerce…but MyProtein has continued to invest in offline retail partnerships where it places a limited (or exclusive) SKU range as part of a bigger demand generation strategy. Although the most highlighted commercial strategy (utilized for offline retail expansion) continues to surround the development of MyProtein products that are sold under licensing arrangements. When done correctly, these types of retail partnerships boost customer touchpoints and broaden brand appeal. Nonetheless, this ambitious level of offline retail expansion globally will undoubtedly help drive a more diversified retail mix over the next few years. Equally, MyProtein continues to lean heavily into international product collaborations. THG Nutrition recently expanded the successful partnership with global confectionary giant Mars Incorporated. But since those MyProtein and Mars co-branded products are whey protein, I'll outlook how THG Nutrition attempts to mitigate elevated whey protein input prices. Lastly, I'll discuss if MyProtein or any of THG Nutrition is an M&A target.

What if the most famous bodybuilding supplement in history was actually meant for your brain? For over 30 years, we've lived in a reality where creatine belongs exclusively to plastic shaker bottles, gym bro subculture, and building big muscles. But behind the scientific shadows, a parallel market universe has existed since the very beginning. In this episode, I'll dive deep into the collapsing walls between sports nutrition and cognitive longevity. From early 1990s constraints that commercially suppressed "cognitive creatine" to the modern epidemic of burnout, stress, and sleep deprivation...the macro dynamics have completely flipped. Discover how forward-thinking wellness CPG brands are leveraging new ingredient technology to charge premium prices for creatine, why combining creatine with nootropics creates a "dual-engine" for focus, and how food scientists are racing to solve the "golden goose" stability puzzle. Once unlocked, creatine is escaping the pharmacy aisle to become a baseline upgrade in mainstream functional drinks and the global food matrix. The "gym bro" era was just a temporary detour. Welcome to the future of cognitive health.

How does a small, struggling hemp company pull off the "heist of the year" in the supplement industry? In this video, I'm breaking down the mind-blowing M&A transaction between cbdMD and the legendary legacy supplement brand Twinlab. Drowning in a staggering $148 million of debt, Twinlab was completely insolvent. But instead of entering a standard federal Chapter 11 bankruptcy, they used a rare, state-level legal maneuver called an Assignment for the Benefit of Creditors (ABC). Enter cbdMD. Facing its own regulatory existential crisis in the hemp industry, cbdMD used this legal shield to scoop up Twinlab's entire $30 million operating business for less than $4 million (completely leaving behind that massive mountain of liability). Is this a textbook distressed corporate raid masterclass that will save cbdMD, or will the cost of digesting a broken giant drag them under? Let's look under the hood of the deal.

I generally hate overreaching regulations that unfairly target consumer choice. As an example, if you're spending your own money, you should have absolute freedom to choose what you eat (or drink). But here's my semi-controversial take…when it's the taxpayer's dime, the rules change. If you're receiving federal nutrition assistance (like SNAP), it's hardly “overreach” to require that funds be spent on actual health-promoting foods and beverages. And you can stay ignorant, claiming I'm obviously whatever political party…yet I'm primarily focused on the double whammy of fiscal waste created by intersection between SNAP and Medicaid. If you weren't aware, slightly over 75 percent of SNAP recipients are also enrolled in Medicaid. Also, over 40 cents of every American tax dollar collected is now spent on treating diet-related chronic diseases. Therefore, why are American taxpayers funding the purchase of chronic disease-linked foods with one hand, then funding the Medicaid treatments for those same diseases with the other?

From an early bet on Liquid Death to co-owning JAMS, here is why Pat McAfee needs to go all-in on investing into CPG brands. I mean this in the most endearing way possible, but Pat McAfee looks like the type of dude that has “elite grocery store knowledge.” And this is why I think he really needs to stop dabbling and start investing extensively in food and beverage CPG brands. If you weren't aware, Pat McAfee was an early investor in Liquid Death…and more recently became a co-owner of JAMS (the frozen PB&J sandwich brand attempting to dethrone Uncrustables). Why would this work? Because Pat McAfee is the king of the everyday consumer. He's relatable, authentic, and doesn't shy away from indulging a bit. So, when Pat McAfee says a snack (or beverage) is elite…his massive, loyal audience would clear the grocery shelves. Thus, he should be backing brands like Yough frozen pizza, JaJu frozen perogies (since I'm sure he ate many perogies growing up in Alleghany County), and maybe whoever's building a cool Jell-O shots brand. What CPG brand do you think he should target next?

Today, we are pulling back the curtain on CPG venture capital with Nathan Cooper, Founder and Managing Partner at Barrel Ventures. As an early backer of category-defining brands like OLIPOP, Nate shares his unique "Rules" of CPG investing in an era defined by rapid disruption. We kick things off by exploring how macroeconomic shifts, from GLP-1 lifestyle changes to wearables feedback loops, are redefining consumer habits. Nate and I explore the "Great Soda U-Turn," explaining how brands like OLIPOP successfully flipped the narrative to turn fizzy drinks from digestive villains into gut-health heroes. Although modern soda is just the beginning. In fact, we dive deep into the world of precision fermentation with pioneering companies like Helaina, analyzing how bioidentical lactoferrin bypasses traditional supply limits to disrupt the massive infant formula market (and beyond). Finally, Nate and I shed light on the explosive, high-stakes sectors of "Modern Oral" mouth pouches and the complex regulatory maze of hemp-derived functional beverages. Whether you're an ambitious founder trying to build CPG brands that master the daily consumer ritual, an investor managing early-stage long-horizon fund economics, or industry stakeholder seeking fresh market insights, this conversation delivers!

Why did Nestlé just walk away from a massive dietary supplement empire generating $1.2 billion in annual revenue? In this episode, I'm breaking down the major corporate shakeup in the global dietary supplements market: Nestlé's decision to divest its mainstream "Holistic Health" vitamin platform to private equity firm Yellow Wood Partners for $1.0 billion.If you have brands like Nature's Bounty, Osteo Bi-Flex, Puritan's Pride, or Nuun in your medicine cabinet, their parent company is about to change completely. I'll dive deep into the strategic playbooks of both giants to explain why this "corporate orphan" deal is a textbook win-win for everyone involved.What I'm Covering In This Episode:$1 Billion Carve-Out: The scope of the massive transaction closing in the first half of 2027.Why Nestlé Walked Away: How commoditization, fierce retail price wars, and logistics pushed Nestlé to drop its mainstream volume lines to focus entirely on premium, science-led nutrition.Yellow Wood's Superpower: How the PE firm behind Suave, Q-Tips, and ChapStick nurses neglected consumer brands back to hyper-profitable health.3-Step Growth Strategy: How Yellow Wood plans to turn this massive bet into a giant payout using radical autonomy, extreme retail leverage, and emerging health micro-trends.What do you think about Nestlé's decision to sell off these household vitamin brands? Let me know your thoughts in the comments below!

Why did Walmart spend a staggering $3.3 billion on a 13-month-old startup, only to shut it down four years later? In this video, we uncover the incredible untold story of Jet.com. While many critics on Wall Street called the massive acquisition a desperate, overpriced Hail Mary, Walmart wasn't just buying an e-commerce website. They were acquiring a radical, highly proprietary tech stack and a startup brain trust that completely transformed the retail giant's culture forever. We break down the 10 forgotten proprietary inventions and strategies pioneered by Jet.com that changed online shopping...and explain why its digital DNA still lives on in the retail apps you use every single day.What you'll learn in this video:How founder Marc Lore inverted Walmart's corporate culture.The math behind the "Smart Cart" dynamic pricing engine.Why "Basket-Level Logistic Transparency" changed per-item margins.How Jet.com let shoppers bypass credit card interchange fees.The genius trick behind waiving returns for direct discounts.Why pausing your orders in a "digital waiting room" saves millions.

Think the next massive CPG boom only centers around protein? Think again! Type “postpartum snacks” into the magical Google machine right now…and you'll get tons of results that are total bullshit. My wife is a few weeks postpartum with our second child…and I was literally LOL'ing at these blogs providing exhausted moms with recipes that endless require scratch cooking. So instead, new moms generally survive on whatever easily accessible snacks can be eaten with one hand. And as someone with 15+ years of high-level experience within the CPG industry, it makes no sense how the “Age of the Endless Aisle” hasn't fully reached postpartum healing. Although the “women's health” market overall has been surging lately…which tells me that one day relatively soon, functional snacks designed to specifically support specific women's health stages will mainstream.

Breaking news: Politicians have officially found a way to tax your muscle gains. Because of course they did! The U.S. and Canada just nuked their trade talks, and Trump slapped a massive 50% tariff on Canadian whey and milk protein. Then, not to be outdone in the competition of economic self-sabotage, Canada clapped back with their own 50% retaliatory measures on American dairy. So, while they play their high-stakes game of trade-war chicken, dairy supply chains are getting completely shredded. U.S. suppliers were already completely sold out for the year. But hey, who needs logic when you have politics? Sorry gym bros, but it's time you got ready to pay mortgage-level prices for a basic tub of vanilla whey.

Welcome to another episode where Scott Dicker (Senior Director, Head of Research and Insights at SPINS) and I unpack shifting market dynamics impacting active nutrition. So, what's on today's program? We're providing exclusive insights regarding two industry heavyweights: protein and creatine. During the first part, Scott and I discuss how underlying economics of whey protein have shifted meaningfully…as commodity inputs, supply chain capacity, and consumer demand converge to create structural disconnects that flow through to shelf price changes. Additionally, we analyze how a consumer shift toward mid-tier brands and single-serve options is transforming shelf dynamics…and whether the risk of "innovation slop" could push consumer demand to a breaking point. Then, we dive into the massive evolution of creatine. Once localized to bodybuilding circles, creatine average retail price is now surging…driven by larger pack sizes and a rapidly broadening demographic. Scott and I look at how new innovation is attempting to break down previous barriers, moving beyond muscle performance into cognitive health, women's health, and healthy aging. From the supply chain vulnerabilities to the explosive opportunities of "creatinification," we map out the future of this functional ingredient.

It was just announced that the Best Selling Protein Brand in the UK market, Grenade, is expanding into America with Indulgent Flavors (Including Oreo). Back in August 2024, I made the following comments about the Grenade Oreo protein bars. I'd expect more resources allocated to geographic expansion. Grenade is sold in more than 80 countries worldwide, but almost 90 percent of its total net sales come from its home market of the UK. And the key to geographic expansion might come from leaning further into its cross-pollinated product innovation. At one point in the late-2010s, Grenade had been ramping up sales activity in the U.S. market, but then seemed to almost disappear in the early-2020s. The Grenade Oreo protein bars would almost certainly do great in the U.S. market, but my guesses are that the previous successful Mondelez licensing relationship with GHOST Lifestyle might be holding up that geographic expansion right now. While I'm not certain of the licensing deal length (GHOST Oreo Whey launched just over three years ago), or if GHOST even has negotiated “food rights” with the Oreo brand team…any U.S. market availability of the Grenade Oreo protein bar likely doubles the brand's total revenue in 12 to 18 months with a proper strategic go-to-market execution. You can call it happenstance if you want, but the U.S. market launch timing of these Grenade Oreo protein bars certainly lines up with GHOST and Mondelez completely winding down their long-term licensing partnership. Now, we wait patiently to see if Grenade revenue doubles in the next 12-18 months like I predicted!

Did a few M&A deals change the energy drinks market forever? Between the start of Q1 2025 and the end of Q3 2025, three massive M&A transactions completely rocked the beverage industry. Keurig Dr Pepper (KDP) bought a majority stake in GHOST, Celsius Holdings acquired Alani Nu for $1.8 billion, and Nutrabolt secured a majority stake in Bloom Nutrition. On the surface, these look like standard beverage cooler land grabs, but if you look deeper, you'll find three entirely different corporate philosophies playing out.In this video, I'm breaking down...Why Alani Nu is a "breathtaking" retail juggernaut, generating $2.5 billion in annual sales.How Celsius is stripping away Alani Nu's legacy supplement lines to focus purely on RTD beverages, and why that might cap their long-term growth.How Bloom Sparkling energy drinks became an absolute rocket ship for Nutrabolt, paving the way for an upcoming IPO.Why Keurig Dr Pepper leaving GHOST completely autonomous to launch lifestyle products like protein cereal giving them the highest long-term strategic ceiling.Which of these three recent M&A transactions do you think was the most valuable, and who wins the long game over the next five years?

Great news! The government wants you to eat “real food.” The bad news? Your bank account didn't get the memo. According to research by consumer insights and data firm Numerator, following the new food pyramid costs an extra $1,012 per person, per year. Essentially, that's a 32 percent “healthy eating tax.” Cut the ultra-processed junk and sugar. Eat more protein, whole fruits, and full-fat dairy. It's pretty simple, right? Expect quality animal protein and fresh produce appear are officially the new luxury goods. In fact, almost half of shoppers say price is the only thing standing between them and that “real food” life. And it's obviously amazing how these updated dietary guidelines are quietly reshaping what we think is healthy, but we cannot totally overlook that “eating real” is going to feel like a side hustle for most Americans until supply chains can be rebuilt around supporting a shifted demand curve. So, are the new dietary guidelines a health plan or a wealth test?

In this episode, I'm sitting down with Blake Mitchell of Interact Brands to dissect the modern realities of CPG packaging design and strategic brand building. Rooted in old-school Rust Belt Ohio principles from our entrepreneurial fathers, Blake and I champion the timeless rule of constructing brands that solve real problems for real people. And while we've both eventually left Ohio, our upbringing continually provides a unique foundational perspective on bridging the gap between coastal elite trends and everyday consumers…balancing the needs of "Erewhon Moms" and "Toledo Dads" without falling into cultural echo chambers. Additionally, Blake and I explore how today's economic landscape has created a K-shaped world, forcing consumers to constantly trade up or down. Value is no longer a demographic. Instead, it's a rapid-fire habit requiring instant recognition on retail shelves. We also chart the evolution of product categories (like protein bars) from strict functionality to lifestyle-driven emotion, examining how to design for mature consumer markets. Finally, we dive into the Grüns blueprint to see how supplements can break out of sterile pharmacy aisles, and discuss the massive, untapped opportunity in making men's reproductive health approachable and engaging.

Why is one of the world's largest legacy beer companies quietly buying up the global dietary supplement market? In this video, I'm breaking down the radical corporate transformation of Kirin Holdings. Facing a terminal decline in Japan's domestic beer market due to an aging population, Kirin is executing a masterful multibillion-dollar M&A playbook to pivot heavily into preventative health and functional ingredients. Discover how Kirin built its global "Health Science Triad" by acquiring dominant regional anchors like Blackmores, FANCL, and most recently, Jamieson Wellness for $1.4 billion. I'll dive into their 4-pillar corporate M&A blueprint, how they avoid rigid bureaucracy, and how they use consumer brands as a pipeline for their proprietary, high-margin ingredients like Cognizin and IMMUSE. Lastly, I'll explore if functional beverages and functional foods could be next, along with a future European expansion that would Kirin past their $3 billion Kirin Health Science International segment revenue goal by 2035? Let's get into the strategy.

Has the government finally admitted that feeling like you need a second mortgage just to afford the fancy cheese isn't a vibe? Although instead of sending you a coupon, they're launching the “Grocery Guarantee,” a strategic "risk-shifter" designed to crack the credit bottleneck for the U.S. food supply chain. By boosting federal loan guarantees, the U.S. Small Business Administration is effectively daring local banks to say "yes" to small producers, manufacturers, grocers, and associated support layers who were previously deemed too risky. And this isn't some handout…we're talking about a “modernization play” with 25-year terms for newer technology, smarter equipment, and bigger facilities. So, what's the catch? While the “Grocery Guarantee” bridges the collateral gap, it doesn't erase today's high-interest rate environment. If your small business is already underwater, a bigger debt might just be a heavier anchor. Therefore, this program will be most effective for businesses actively pivoting from "survival mode" to "expansion mode."

FitLife Brands just dropped its Q2 2026 earnings report, showing a massive 65% year-over-year revenue spike to $26.5 million. But behind that explosive headline number lies a much more complicated story of acquisition padding, falling legacy brand sales, and major strategic hurdles. Does FitLife Brands need a "strategic cleanse" to restore true balance? In this comprehensive breakdown, I'll dig deep past the surface-level numbers of the FitLife Brands portfolio. Based on Q2 2026 financial documents and my exclusive notes from the earnings call, I'm analyzing exactly how the company is performing after its massive August 2025 acquisition of Irwin Naturals. I divide the portfolio into Legacy FitLife and Irwin Naturals to uncover the real operational health of the business. While consolidated growth looks stellar on paper due to M&A activity, a sequential quarter-over-quarter growth rate of just 4.8% tells a very different story. Key Topics Covered:Sales Channel Shift: How FitLife has successfully lowered its historic "key customer risk" with retail giant GNC, moving from a digital-first strategy back into heavy wholesale distribution.Legacy FitLife Troubles: Why Legacy FitLife segment revenue plummeted 23% YoY, and how company leadership is using "muddy waters" to obscure individual brand declines.Amazon Algorithm Slump: A look into Mimi's Rock Corporation's low-20s percent YoY decline and FitLife's unexpected partnership with competitive eating champion Joey Chestnut to drive off-Amazon awareness.MusclePharm Misstep: Why attempting to aggressively raise prices on MusclePharm whey protein products backfired, leaving them highly exposed to inflationary commodity cycles without true brand pricing power.Irwin Naturals Silver Lining: Breaking down Irwin's $14.1 million quarter, its rapid 35% sequential expansion into e-commerce, and whether upcoming cost-saving synergies can rescue FitLife's dilutive profit margins.If you are a CPG industry professional, retail investor, or supplement brand builder, this deep dive into functional CPG market dynamics and execution strategy is a must-watch!

“One day, everyone will take creatine.” Maybe that sounds crazy to you. Or maybe you're like me and more recently came to that conclusion. But for a very (very) small group of people, that bold visionary prediction became obvious more than three decades ago. Joining us is industry pioneer Steve Jennings, one of those rare individuals…who famously helped fuel British Olympic gold medalists with creatine in secret during the 1992 Barcelona games. In this episode, we explore the enormous structural shift driving creatine from “gym culture” to household staple. However, crossing the chasm towards the mainstream brings substantial friction. Therefore, we shed light on the serious risks of a market (potentially) growing too fast, from severe supply chain vulnerabilities and concentrated chemical precursor sourcing to an imminent pricing squeeze on raw materials (which might ultimately be a good thing as Steve outlines). Furthermore, driven by a surge in consumer demand for convenient, great-tasting formats…we discuss how "Creatinification" (and the category's defining decade ahead) hinges on solving a fundamental biochemical challenge that has long eluded the supplement industry. Tune in as we discuss how the sector is engineering around this stability barrier, tackling immense demand growth, and unlocking preventative health solutions to build a creatine market poised to reach every consumer, everywhere. But without any further delay…here is the recent conversation I had with my good friend and the founder of Jenerise (a creatine technology company) Steve Jennings.

Procter & Gamble just dropped a staggering $3.8 billion to acquire Thorne, leaving mainstream financial commentators and health enthusiasts completely shocked. Why would a consumer packaged goods (CPG) titan known for Pampers, Tide, and Crest buy a premium dietary supplement brand? In this video, I'll pull back the curtain on the financial architecture and the radical corporate strategy driving this massive M&A transaction. This is far from just selling vitamins...creating a massive strategic paradigm shift into AI-powered predictive health, longevity, and data-rich consumer ecosystems. I'm breaking down the private equity wins for L Catterton, Thorne's massive manufacturing and testing moats, and how P&G completely outmaneuvered rivals like Unilever and Haleon to dominate the healthcare practitioner market. Plus, we address the biggest question on every consumer's mind: Will P&G dilute Thorne's ingredients and destroy its scientific integrity? If you want to understand the future of proactive, personalized, and integrative consumer healthcare, this deep dive is for you.

Nestlé just dropped $523 million dollars to fully acquire the German complete nutrition brand Yfood. But don't totally overlook this as just another simple brand acquisition. And that's because it could become an important part of Nestle's (mostly still disguised) global strategy to conquer the “Age of Ozempic” marketplace. Obviously, increasing household penetration of weight-loss drugs mean less food overall is being eaten, which has driven demand for hyper-concentrated, nutrient-dense meals, snacks, and liquids instead. But let's see if Nestle begins to utilize Yfood as a gateway to drive GLP-1 patients into their new companion frozen food line…and eventually into personalized health platforms. Nevertheless, this isn't a one-off, as Danone and Lactalis are buying up competitors too…further strengthening my long-held thesis that in the modern CPG business landscape, true power belongs to those not just feeding consumers (but fueling them).

Is your favorite tub of protein powder starting to break the bank? In this video, I'm breaking down why your protein supplements are getting "whey" more expensive...and it could all tie back to global nutrition giant Glanbia, the powerhouse owner of Optimum Nutrition (ON). Following their first-half 2026 earnings release on August 6, 2026, I'll dive deep into the financial numbers, provide my exclusive earnings call notes, and explain the supply-side shifts hitting the sports nutrition industry. From massive volume growth to the reality of commodity inflation, we explore exactly what is driving these changes and whether the market is reaching its pricing breaking point.Additionally, I'll provide insights on the following topics:Glanbia's massive $2.08 billion in group revenues and what it means for consumersHow Optimum Nutrition continues to pull in nearly $1.5 billion in trailing twelve-month revenue despite mandatory global price hikesWhy "protein mania" is clashing with dairy commodity inflation, and what Optimum Nutrition's upcoming Q3 price increases mean for youWill competitors cut corners on formulation, and why ON's iconic Gold Standard Whey refuses to change its recipeThe shift toward alternative protein sources (collagen, plant, and milk) and the desperate need for affordable, single-serve pack optionsSo, are you willing to pay more for your favorite protein, or are you looking for cheaper alternatives?

Has the CELSIUS growth story gone “stone cold” or are temperatures about to heat up once again? Celsius Holdings (NASDAQ: CELH) had quarterly revenue of $817.9 million, which was up 11% YoY. Excluding the Rockstar Energy acquisition-related financial impact, Celsius Holdings revenue would've only increased 1.6% YoY. CELSIUS had revenue of $387 million, which was down 11.6% YoY. Alani Nu had revenue of $364.4 million, which was up 20.9% YoY. And then lastly, Rockstar Energy had revenue of approximately $66.5 million. According to recent 13-week retail sales data, CELSIUS decreased by 2% YoY...remaining the third-largest energy drink brand in the category with a dollar share of 9.5%. Alani Nu increased retail sales 55.7% YoY and is now the dominant fourth brand in the U.S. energy drinks market with dollar share of 8.7%. And Rockstar Energy retail sales decreased 13% YoY and is still a Top-10 largest U.S. energy drink with dollar share of 1.9%. If we look at Celsius Holdings combined brand portfolio, it reached 20% of dollar share...ranking it third and trailing only Red Bull and the combined Monster Beverage portfolio. Additionally, while Celsius Holdings has a large lead on the combined Keurig Dr Pepper (controlled) brand portfolio of GHOST, C4, and Bloom…that lead is shrinking relatively quickly due to the extreme growth of Bloom. Things drastically shifted for CELSIUS because of the August 2022 distribution and investment deal with PepsiCo. Additionally, when Celsius Holdings took ownership of the Rockstar Energy brand last quarter, it designated them the PepsiCo strategic energy drink captain. Also, another major aspect of “Celsius Holdings and PepsiCo strengthening its long-term strategic partnership” was the transition of Alani Nu distribution into the PepsiCo DSD system starting December 2025. So then, in my latest first principles thinking content piece, I'll explore several key factors surrounding why the next 12-18 months will define the future of the Celsius Holdings brand portfolio.

Remember Saturday mornings watching cartoons with a giant, sugary bowl of cereal? For most of us, that childhood staple vanished the second we got serious about fitness. But what if you didn't need to trade your favorite childhood tradition for your macro goals? Well, today's guest did exactly that. After cutting his teeth in the sports nutrition trenches with Nutrabolt (owners of C4 Energy), Eoin Carroll took the ultimate "cereal kid" dream and turned it into a high-protein reality by co-founding TRUELY Cereal, a brand challenging the previous market expectation that all high-protein cereals include an unappealing chalky aftertaste or soggy texture. In this episode, we discuss everything from the brutal realities of self-manufacturing to scaling into retail giants like Sprouts and Costco Canada. Also, Eoin and I break down the major consumer demand drivers reshaping grocery shelves like the surging "protein-ification" of every product category and the massive market impact of GLP-1 users. Oh, and one last thing…about two-thirds of the way into our conversation, Eoin had a minor technology failure. So, while I've done my best to keep our natural conversation flowing, you might notice a slight sound adjustment from Eoin swapping microphones that required me to stitch together clips.

With “protein mania” pushing the macronutrient into top-of-mind status (arguably creating more purchasing impulsivity), is it finally time for Premier Protein to embrace the “single life”? BellRing Brands (NYSE: BRBR) is a portfolio that owns a collection of convenient nutrition brands like Premier Protein and Dymatize Nutrition, which was previously wholly-owned by Post Holdings. A fast-paced and busy lifestyle is pushing consumers to switch to quick and healthy meal options. This has resulted in above average categorical growth rates and increased household penetration of RTD protein shakes that promote active lifestyles. Additionally, powders are becoming more mainstream, and category proliferation has created an environment where more consumers are purchasing both every day and performance nutrition positioned protein products at grocery stores and mass retailers. Bellring Brands reported 2026 Q3 net sales of $570.4 million, which was up 4.2% YoY. Premier Protein (~85% of BellRing Brands total revenue) increased by 0.7% YoY, driven by volume growth but partially offset by a decrease in price/product mix. Dymatize Nutrition was up 26.7% YoY, driven by higher average net selling prices. Moreover, I provide deep dives into Premier Protein RTD protein shakes business activity, along with examining similar metrics surrounding the protein powders from Premier Protein and Dymatize Nutrition. But then, Michael Axelrod officially took over as the new CEO of BellRing Brands. And you might be asking yourself, who is Michael Axelrod…and can he help improve performance and better translate category leadership into more consistent, profitable growth over time. In all honesty, since he only started a handful of days ago…and hasn't laid out his strategic initiatives yet, I'm not totally sure. But here's what I'll say, Michael Axelrod has extensive up- and downstream CPG industry experience…and trust he'll strengthen execution and improve operational discipline (most notably involving Premier Protein's regionally diverse contract manufacturing network). However, here's my biggest concern…can he effectively transition Premier Protein into this “full-fledged beverage company,” a much-needed strategic reality that previous leadership seemed hellbent on not embracing. And in a market where “singles” are quickly becoming a larger share of the total RTD protein shakes market, Premier Protein must think more deeply about not only its DSD distribution strategy but organizational structure. Right now, the RTD protein shakes category is more dynamic and competitive than ever, thus for Premier Protein to remain the market leader it will require not only greater operational discipline but new capabilities.

Everyone has been focused (and rightfully so) on the Electrolit growth story, but there's another trending Mexican beverage company you shouldn't be overlooking! For decades, Jumex was stuck in the “ethnic aisle” as a nostalgia brand for immigrants. But then, they teamed up with AriZona Beverages and went completely rogue…launching a Hard Nectar lineup that absolutely blew up on social media. Now, that iconic blue can is quietly conquering the United States…and the company is sponsoring college football, dropping energy drinks and functional hydration beverages. Grupo Jumex even revived the legacy premium juice brand Odwalla last year, proving its no longer some hidden small bodega beverage company.

Much like golf, which Arnold Palmer once said, “is deceptively simple and endlessly complicated,” launching a beverage brand looks easy from the outside, but day-to-day execution is deeply complex. But then, what happens when you combine both? Well, in this episode, we sit down with Luc Bohunicky, the first-time CPG founder behind COURSE RECORD, a functional beverage custom-built to combat the dreaded "back-nine fade." In this conversation, Luc shares his firsthand experiences navigating fragmented alternative sales channels (like golf courses and country clubs), fighting the "category curse" of large retailers, and managing diverse expansion opportunities as RTD beverage with less than two years in-market. Plus, we're talking through how a generation of YouTube content creators is giving the sport an enthusiastic facelift and how golf-focused functional nutrition brands (like COURSE RECORD) should be thanking the “Tiger Effect” for successfully helping move the needle from mere “snacking” to intentional “fueling.” Whether you're an early-stage CPG founder attempting to carve out a new category within an emerging niche market or proactive builder with a love for the evolving functional beverages market…this is the manual for anyone trying to solve the countless unsexy CPG entrepreneurial puzzles.

The global dietary supplement market just witnessed a massive $1.2 billion acquisition. In this deep dive, I'm breaking down how the family-owned Vitabiotics Group caught the eye of private equity giant Bain Capital. From fleeing geopolitical adversity during the 1947 Partition of India to achieving prime-time television fame on the BBC's Dragons' Den, the story of Vitabiotics is anything but ordinary. But behind the celebrity endorsements and household name recognition lies a brilliant corporate strategy. So, I'll analyze the mechanics of Bain Capital's massive buyout, the powerful supply chain cost-arbitrage moat fueling their valuation, and what this means for the future of the global supplement industry. Is Bain preparing for a massive horizontal roll-up maybe by syncing Vitabiotics with its 1440 Foods active nutrition brands? Let's look at the strategic playbook.

The U.S. energy drink market is a brutal, $28.5 billion battlefield where loyalty between brands and DSD distributors rarely exist. After helping build massive energy drink brands like GHOST, CELSIUS, Alani Nu, and C4, independent beer distributors watched PepsiCo and Keurig Dr Pepper (KDP) strip the volume right off their trucks. Enter Phorm Energy...the powerhouse joint venture between Anheuser-Busch, sports nutrition brand 1st Phorm, and combat sports mogul Dana White. In this video, I'm doing a year-one "heat check" on Phorm Energy. Learn how this unique partnership bypasses traditional beverage startup growing pains, solves the independent distributor loyalty crisis, and leverages a fierce, blue-collar fitness community to challenge the beverage industry's biggest giants. I'll be breaking down the latest retail sales data, compare their trajectory to the previous AB InBev & GHOST Energy joint venture, and reveal the strategic "playbook" needed if they plan to crash the Top 10.

According to the latest Keurig Dr Pepper “State of Beverages” Trend Report, the “Go-To” drink era is officially over. And the packaged beverage giant is blaming Gen Z and Gen Alpha for completely rewriting the rules of what we sip. For us old farts, wellness meant restriction. No sugar, no fun. But for younger consumers…wellness is a vibe check. They don't have one favorite drink anymore. Instead, they rotate through SIX different beverage categories weekly. Every choice is a personal statement, an emotional support beverage…with Gen Z and Gen Alpha 58% more likely than Millennials to choose drinks based on mood or occasion and 25% more likely to switch beverages based on their current activity. So, what do the drinks in your refrigerator say about you?

The sports drinks (and functional hydration market) is undergoing a massive structural shift, driven by corporate price wars, format innovations, and a literal beverage “real estate crisis” happening inside your local convenience store.In this market breakdown, I'll analyze the aggressive defense strategies of legacy CPG titans and the rapid rise of format-disrupting (and cross-category) insurgents. While early viral sensations like PRIME face historic post-hype cycle collapses, incumbent leader Gatorade (PepsiCo) has reversed its pricing strategy to aggressively capture volume growth, forcing Coca-Cola's BodyArmor and Powerade to defend higher price points.Also, I'll dive deeper into the operational and distribution mechanics behind the market's newest giants:How Electrolit leveraged a Keurig Dr Pepper (KDP) partnership to cross $750M in annual salesHow Unilever's Liquid I.V. bypassed traditional bottling constraints to scale a $1B powder supplement empire.Why convenience store category managers are aggressively reallocating cooler real estate away from slow-moving sports drinks in favor of high-turn energy portfolios.Listen to understand why basic electrolyte replenishment is no longer a viable unique selling proposition (USP), and how occasion-based multi-functionality is rewriting the beverage playbook.MARKET ANALYSIS BRIEF: Are you seeing a permanent channel shift toward powdered stick packs in your local markets, or will ready-to-drink format innovations claw back the market share? Drop your categorical insights and observations in the comments below.

Dolly Parton spent decades living on a tour bus. Now, she's using that wisdom to take down Buc-ee's. So, if you weren't aware, the “Queen of Country” just launched Dolly's Tennessean Travel Stop. Instead of just walls of beef jerky, Dolly's has live music stages, sit-down southern cafés, and a little sparkle of Dolly Parton magic that'll make even a beaver blush. And while Buc-ee's famously bans all semi-trucks, Dolly Parton plans to make the road feel like home for truck drivers. In fact, her massive travel centers feature elite trucker lounges, high-flow fuel lanes, and private showers to win over the millions of drivers Buc-ee's locks out. Since I'm located in Buc-ee's backyard, with a massive location literally in our subdivision…there's probably no chance I'm swapping my Beaver Nuggets for a “Cup of Ambition,” but you let me know where you're stopping!

Let me tell you a little secret about me. There's almost nothing in this world I love more than a four-scoop sampler from my Handel's Homemade Ice Cream. And if you're thinking I'm just being another melodramatic “content creator” seeking attention…think again! My now wife (then girlfriend) literally joked early in our relationship about “if I loved her more than Handel's” because that was such a high measuring stick. But all joking aside, the biggest issue is that my lactose-intolerant wife and my first love (aka Handel's) you know since I grew up in Youngstown, Ohio haven't gotten along! Handel's Homemade Ice Cream is beautifully old school in the most indulgent way possible…and unfortunately that meant lacking delicious non-dairy options. Well, to my surprise…I just read about Handel's partnering with Oatly, utilizing their full fat Oatmilk in three new indulgent non-dairy ice cream flavors this summer. So, I guess now my only problem is that I live in Southeast Houston…and the closest Handel's location is about an hour away!

The wellness CPG space was just rocked by a massive headline: Prenetics announced that its supplement brand, IM8 Health (co-founded with David Beckham), secured a staggering $1 billion non-dilutive growth financing commitment from venture capital titan General Catalyst. But behind the gaudy headlines lies a complex financial mechanism that could either change wellness CPG forever. In this video, I'm breaking down the reality of General Catalyst's Customer Value Fund, unpacking the mechanics of cohort financing, and exposing the silent operational risks known as "Growth Trap Over-Optimization."Is Prenetics executing a brilliant sprint to a Big CPG acquisition, or are they walking into another corporate strategy nightmare? Let's look past the spreadsheet illusion.Additionally, I'll cover key topics like:Prenetics' strategic detour and divestiture of Europa Sports ProductsHow General Catalyst's CVF funds up to 70% of digital marketing spend without equity dilutionWhy software scales effortlessly but physical consumer packaged goods do notHow global CPG giants like Unilever or Nestlé unroll internet-famous brands and fix "cost problems"

Are Energy Drinks Under Attack? Inside the FDA's New Caffeine Crackdown

Did you know that Spain just dropped a massive ban on energy drinks, and it should raise concern for any U.S. brand prioritizing geographical expansion across Europe? If you're in Spain (and under the age of 16), you can no longer purchase energy drinks. While Lithuania started the trend in 2014, Spain became the first Western European country to enact age-of-sale laws on all energy drinks. Moreover, Spain also age-restricted any energy drink containing more than 32 milligrams of caffeine per 100 milliliters to those over 18 years-old. And although that concentration of caffeine is the industry standard for most energy drinks globally, some pundits fear Spain including an age restriction could spark copycat regulatory actions across Western Europe. But what do you think: is this a win for public health or government overstepping?

Is Simply Good Foods' Turnaround Strategy Working?

The Secret Weapon Powering Peter Rahal's New Food Empire

Stop clinging to that "pristine" brand image, as the old CPG playbook of polished, sterile messaging is fundamentally broken because it ignores how trust actually works today. Modern consumers don't want abstract brand voices…they want believable like seeing how your product fits into a messy, real, lived-in life! Arguably, this is why social commerce is exploding…as it's more real life than sales pitch. So, start putting humans at the center of your CPG brand…whether it's a founder or an employee with actual skin in the game. Individual personalities are the only things that scale now because video platforms are literally built to distribute people, not logos. Likewise, tap into niche creators who already speak the language within your specific cultural intersection. However, remember that collaborations aren't just for "reach," they represent your CPG brand's community and societal class…which can earn you the right to expand laterally (when strategically appropriate).

Why Barebells Just Bought Its Contract Manufacturer (The Protein Bar Wars)

Is This the End of Vitamin Pills? Are you tired of swallowing giant supplement capsules every single day? You're not alone. Nearly 40% of adults suffer from "pill fatigue," defined as the physical and psychological burnout of maintaining a complex, multi-bottle daily routine. In this video, I'll dive into the radical shift toward what I dubbed "Frictionless Wellness." Next-generation wellness CPG brands are abandoning traditional pills entirely to treat the mouth as the ultimate biological highway. By bypassing the gut and liver, these innovative direct-to-mouth formats deliver rapid oral absorption without the need for water. But can these "bleeding-edge" innovations cross the strategic chasm into permanent consumer habits, or will they get crushed by heavyweights like Celsius energy drinks?Key TakeawaysOral Absorption: Direct-to-mouth delivery skips the harsh stomach acid and liver first-pass effect, potentially shaving 30–60 minutes off nutrient onset timesCandy-fication vs. Efficacy: Brands face a brutal balancing act between packing a clinical dose of an ingredient and making a functional candy taste tolerableMilligram Ceiling: Form factors like pouches and strips physically cannot hold heavy macronutrients, limiting their ability to replace full nutritionNiche Utility Wins: The future belongs to hyper-specific use cases—like fast-acting sleep strips or focus-driven modern oral pouches for long road trips

Here's something I told a client, but they couldn't come to grips with it. The "anything-goes" science foods era is dying…and society is firmly heading into an Age of “Sensory Grounding.” Texture has become a personality trait. I'm talking about "texture-maxxing" everything…you know freeze-dried, crispy, chewy, and velvety mashups. Also, in this economy, consumers want quality they can actually feel and trust…whether that's the emotional safety of handmade sourdough or the fermented, fiber-packed, and sour canned veg prepared by long-lost “old-school Grandma” methods. It's about craving quality and reliability over wild food trends…seeking a strong value proposition for every dollar spent.

Is Your Supplement Brand Looking at TikTok Shop All Wrong? Most supplement and health brands treat TikTok Shop as an isolated sales channel. They look at direct dollars spent versus immediate revenue out, and if the margins aren't instantly positive, they call it a failure. That legacy mindset is costing brands millions in lost growth. In this video, I'll break down why a performance-siloed view of TikTok is holding you back, and how the fastest-growing brands are using it to fuel a massive, multi-channel flywheel effect. TikTok Shop is currently the 4th largest health ecommerce retailer in the US, generating over $800 million in the vitamins and supplements segment alone over a recent 52-week period. But the real value isn't the sales inside the app. And I'll discuss the predictable multi-channel consumer loop that begins with a massive surge in Amazon branded search volume, shifts towards an ecommerce windfall on Amazon, and then that viral online discovery spills over into physical retail, leading to a massive lift in offline revenue and total distribution points. But to unlock this, leadership has to abandon traditional DTC playbooks, give up absolute creative control, and embrace a "loose reins" affiliate strategy to scale content volume. Watch the full video to learn how to let the algorithm act as your ultimate creative director and achieve true attention arbitrage.

Trump promised a manufacturing boom, but the truth thus far has been arguably much messier (at least across the CPG industry). On the one hand, CPG giants like Mars, Chobani, and Coca-Cola announced they'd spend billions on new manufacturing facilities. Although with interest rates staying relatively higher…and construction costs skyrocketing, we've seen a strategic rebalancing. And yes, Tyson Foods, General Mills, and other massive CPG companies are selling factories just to stay lean…but the larger strategic narrative can be defined as "making more with less." So, what's going on? The expected CPG manufacturing boom has been stealthy…with companies not necessarily building bigger but retrofitting existing factories to be smarter. And within a sector that relies heavily on immigrant workers, automation and high-tech robotics are critical to replace the labor they can't find. Output is rising, and efficiency is increasing…yet manufacturing jobs are slightly dipping. This is a complicated story, but likely only the beginning of a new industrial era.

The beverage industry is hitting a catastrophic wall, but it isn't just standard inflation. A high-stakes "metallurgical siege" is unfolding at the exact intersection of consumer packaged goods (CPG) and defense economics. In this video, I break down why aluminum costs have recently surged on the London Metal Exchange and what this means for the future of grocery shelves and beverage coolers. From China's strict production caps to Middle East tensions in the Strait of Hormuz, global supply chains are fracturing. But the biggest threat? The Pentagon. Under federal law, defense contractors have prioritized access to American metals. As the U.S. modernizes its military arsenal under a $1T+ defense budget, the CPG industry is left fighting for the residual scraps...artificially inflating baseline costs and crushing profit margins for everyday brands. I'll dive deep into the companies caught in the crossfire, why the famous 2021-2022 Celsius Holdings survival playbook won't work today, and how "form-factor agility" (moving from cans to powder stick packs) will separate the survivors from the bankrupt in the late 2020s.Also, I'll be examining topics like: Why the U.S. only produces 1/3 of its required primary aluminumHow military procurement dictates commercial grocery marginsWhy venture capital is abandoning weak-margin CPG brands for defense technologyThe folklore of Celsius Holdings importing cans from Europe, and why protectionist tariffs killed that strategy for 2026 Why brands can no longer shrink past the standard 12-ounce sleeveHow functional wellness beverages hold the ultimate leverage over traditional soda and beer.

If you had “legacy juice brand pivots to GLP-1 side-effect management” on your bingo card, come collect your prize. Honestly, whatever simulation loop we're in currently, does anything say “growing up” quite like your favorite childhood juice brand suddenly caring more about keeping your Ozempic-induced bloating in check than your sugar high? Backed by a $10 million manufacturing overhaul, Langers' new No Worries GLP-1 Support Beverage moves beyond basic hydration to act as a functional companion (packing a hefty dose of prebiotic fiber along with magnesium and tart cherry juice into every can). This strategic move proves Langers is no longer just a juice brand…transforming into a problem-solving powerhouse for the modern, health-conscious consumer.

More than one-fifth of the 150K+ convenience stores have spoken, and they shared some interesting opinions about the growing energy drinks category. And even if you aren't familiar with every insight regarding this beverage category, I'm sure you intuitively recognize that convenience is the most important sales channel (by sales dollars) for energy drinks in the U.S. market. But here are my top “categorical” takeaways from the most recent Goldman Sachs Beverage Bytes survey. Firstly, c-stores are preparing to allocate more space for the female-focused, better-for-you energy drink brands…with 87% stating they'll find more room for Bloom between now and January 2027. Similarly, after just lapping its first year in-market, Phorm Energy is expected to earn more “cooler space” between now and the start of next year. Finally for my category “inflation watchers,” around 81% expect pricing to increase across the energy drinks market throughout the year…with 25% believing price hikes will be “significant.”

When PepsiCo acquired Poppi for nearly $2 billion in early 2025, everyone assumed Olipop would be next. Rumors swirled, negotiations stalled with Coca-Cola, and then...Olipop walked away. Critics claimed they missed the peak of the prebiotic soda mania. But the truth could be much more rebellious. In this video, I break down why Olipop's independence isn't a failure, analyze Olipop's impressive financial health ($700M+ in tracked sales), and explore three hidden paths for unlocking their future enterprise value.In this video, you'll learn more about:Olipop "Mistiming Myth": Why critics are wrong about Olipop missing the prebiotic trend.Red Bull & Monster Energy Factor: How alternative distributors could change the convenience store game.Gut Health M&A Roll-Up Strategy: How Olipop could clone the Simply Good Foods playbook to target an IPO in 12-18 months.Food Tech Pivot: Transforming OliSmart into a B2B ingredient supplier.What do you think? Should Olipop sell to Coke, or should they build an independent gut-health empire?

Is the golden age of protein over, or is the market hiding something much worse? While mainstream pundits point to falling average retail prices as a sign of consumer fatigue or market saturation, the reality is far more dangerous. CPG brands are trapped in a brutal macroeconomic vice: unprecedented, structural commodity inflation for whey protein vs. an already strained consumer. In this content, I break down why the "health halo" of the protein market is approaching a catastrophic breaking point, how brands are quietly altering your favorite protein snacks, and why the ultimate threat to your protein powder might actually come from the butcher counter. In my latest content piece, I'll cover topics like:Pricing (ARP) Illusion: Why category prices look lower on paper while individual products (UPCs) are actually getting more expensiveProtein Product "Format Shift": How low-ticket, immediate-use items like RTD shakes are masking deep market friction▪️ Formulation Trap: Why substituting protein inputs isn't as simple as swapping sugar or fat, and how it leads to "chalky, brick-like" productsConsumer Surplus Theory: The exact economic mechanism that could trigger a massive market contractionSubstitution Threat: How government actions and downward price corrections in real whole foods (beef, poultry) could pull shoppers out of the center aisleIndustry Warning Signs: Sneaky ingredient changes happening right now across protein powders, protein bars, and lifestyle snacksUltimately, "protein mania" won't end because you stop wanting better nutrition...it will halt because the industry broke its promise of quality!