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BFD Expert Voices - Retail Deals

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Restaurant technology company Grubbrr is eyeing a Series B raise after adding Food Network chef Robert Irvine to its roster of investors, CEO Sam Zietz tells Kimberly exclusively.

Details: “The valuation hasn’t been set yet, so his investment amount has not yet been determined,” Zietz said in an emailed statement.

He declined to disclose further details about the round, including when it will be targeted to close.

Grubbrr provides self-ordering technology and point-of-sale systems for restaurants. 

What’s happening: In addition to becoming a brand ambassador, Irvine of “Restaurant Impossible” fame will sit on Grubbrr’s board of advisers.

"The industry has been struggling to recover from the pandemic, and for many restaurants, there is a dire need for transformation and innovation,” Irvine said in a statement.

Catch up fast: Last year, Grubbrr picked up a $35 million investment from Aon in an IP-backed lending deal.

It has used the funds to support its growth and make acquisitions.

The company in October acquired GetNoble, a digital commerce and marketing platform for on-site events, for $5 million. 

1. Grubbrr nabs star investor

Grubbrr CEO Sam Zietz and Food Network chef Robert Irvine at an event in NYC. Photo courtesy of Grubbrr

Permira, KKR and Famille C Participations, Clarins SAS' investment vehicle, join a long list of suitors vying for a piece of beauty brand Aesop, Bloomberg reports.

Why it matters: Despite weaker consumer spending and inflationary pressures, the beauty and wellness segment has been resilient, Kimberly wrote Monday. 

Plus: Monday's Pro Rata, on the UBS-Credit Suisse tie-up.

2. New suitors circle Aesop

illustration of a dollar bill with george washington wearing a blue clay face mask and cucumber slices over his eyes

Solo Brands seeks acquisitions of brands that have immediate synergy with its existing outdoors-loving customer base, CEO John Merris told Richard Thursday.

Why it matters: Though publicly traded Solo Brands is opportunistic and disciplined in its approach, its optimism is in contrast with a further tightening of the credit markets due to Silicon Valley Bank's fallout and higher interest rates.

Plus: Thursday's Pro Rata, on the SVB banker run, and a new chatbot. 

3. Solo Brands scouts deals as valuations decline

Illustration of a tent made out of money.

Pollen Returns, an Atlanta-based retail returns pickup technology platform, aims to raise $5 million to invest in its technology team, CEO Spencer Kieboom told Richard exclusively Tuesday.

Why it matters: Globally, product returns are about a $600 billion annual problem the retail industry has been trying to solve since the dawn of e-commerce.

Plus: Tuesday's Pro Rata, on SVB finger-pointing.

4. Pollen Returns seeks $5M fundraise

Illustration of a shopping cart overloaded with boxes

Appbrew, a platform letting marketers build their own mobile apps, is planning a Series A after announcing a completed seed round this week, CEO Abhijeet Singh told Richard exclusively Wednesday.

Why it matters: Brands are increasingly turning to apps to acquire customers, which is more difficult and expensive after Apple made privacy changes to its operating system.

Plus: Wednesday's Pro Rata, on a possible First Boston spinout.

Plus: Wednesday's Pro Rata, on a possible First Boston spin-out.

5. Appbrew eyes Series A after $2M seed

Illustration of a hand holding a cell phone displaying a $100 bill on the screen surrounded by social media icons.

Happy Friday, Retail readers. We made it.

👀 ICYMI: Sen. Mark Kelly (D-Ariz.), Rep. Mike Gallagher (R-Wis.), and White House Office of Science and Technology policy director Arati Prabhakar join the mainstage speaker lineup for Axios’ second annual What’s Next Summit Wednesday, March 29, in Washington, D.C. Request an invitation to attend.

👋 Programming note: Kimberly will be in Sin City for Shoptalk 2023 next week. Say hi if you see her!

🙏 Many thanks to copy editor Mickey Meece for today's edits.

Thank you for reading Retail Deals! Catch you Monday.

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March 24, 2023

1. Grubbrr nabs star investor