
UNILEVER TO ACQUIRE GRUNS FOR UNDISCLOSED SUM IN HUGE VMS SPLASH Grüns, one of the best stories in CPG of the last decade, has been punctuated with a massive deal to Unilever. The VMS M&A wave is in the early innings! Financial terms weren't disclosed, but given Gruns' disclosed revenue, growth rate, and Unilever's annual stated M&A budget - it was definitely a big one. The Numbers - Founded: August 2023 by Chad Janis (confirmed a chad) - $100M ARR: May 2025 (month 21) - $300M ARR: August 2025 (month 24) - Last valuation: $500M (April 2025 funding round led by Headline) - Profitable within 14 months of launch Price undisclosed, but the $500M valuation set the floor 12 months ago. With $300M+ ARR at the time of deal announcement, rough benchmarks: - Huel acquired by Danone for ~3.4x revenue - 2026 - Liquid I.V. / Unilever - ~2.6x revenue - 2020 - Dr. Squatch / Unilever ~3x revenue - 2025 - poppi // PepsiCo ~3x revenue - 2025 Unilever has been making an all in effort into personal care and wellness, with brands like Liquid I.V. & Nutrafol set to pass $1B in sales, UL is putting together a formidable wellness portfolio. Plus, they spent $1.5B on Dr. Squatch last year. Early investors include Sugar Capital, Vanterra Capital, and more.

















