Through the release and development of new products, animal-free dairy products have attracted more and more attention this year. Through this acquisition, Perfect Day's CPG company shows that this field also has certain strength.
Coolhaus is not only known for its quirky taste, but also for its commitment to mission and social issues. It was founded in 2009 by Case and her wife, Freya Estreller, who said they felt there was no representative of the owners of other brands. They created flavors to commemorate the proud and estranged member of the British royal family Meghan Markle, and collaborated with CPG to make ice cream flavored with Ritz biscuits and French mustard.
This acquisition helps Coolhaus strengthen its sustainability certification. According to the life cycle assessment conducted by the consulting company WSP, Perfect Day's protein can reduce blue water consumption by at least 96%. The previous life cycle assessment showed that the production of Perfect Day can reduce greenhouse gas emissions by up to 97%.
"We created Coolhaus to make better products for everyone. By joining The Urgent Company, our ability to purposefully lead and provide help to consumers has become stronger," Case said in a written statement. "For us, this is a long-term competition. The Perfect Day protein integration into our beloved dairy ice cream and novelty product series will elevate our products to the next generation of food, bringing them to our families and the planet Change."
The acquisition also helped Perfect Day's animal-free milk protein gain more exposure and become a greater focus. Ice cream with Perfect Day dairy products has been on the market since last year, but it is either a new brand of Brave Robot or a pint of ice cream that can only be purchased through e-commerce or exclusive stores. Coolhaus is a well-known high-end brand, currently available in more than 7,500 stores nationwide. Once transitioning to animal-free dairy products, anyone who drinks a pint or one of the new products will try Perfect Day’s precise fermented milk protein. This will help drive trials and build ingredients among consumers. Urgent also plans to exclusively launch a co-branded animal-free Coolhaus/Brave Robot novelty product with an undisclosed national retailer in 2022.
With the expansion of Perfect Day this year, its non-dairy ingredients have surpassed ice cream. In the last few months, The Urgent Company has launched two new brands-Modern Kitchen, which produces cream cheese, and California Performance Co., which produces whey protein powder. In addition, new ingredient partnerships with General Mills and Natreve and food service partnerships with Starbucks and Villa Dolce are expanding the field of alternative production of dairy products. As animal-free dairy products continue to prove themselves and protein continues to appear in different products, Coolhaus is unlikely to be the last company to be acquired in the field.
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A review of 13 companies that have passed traditional IPOs or merged with SPACs since July 2020 shows that, except for one of the listed companies, the transaction price of all companies is lower than their initial listing price.
As consumers adopt new buying and drinking habits, the field of alcohol and beverages has undergone rapid changes-and will encounter a range of product choices.
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