Columbia West Capital News - Industry Deal Intelligence
03.10.16 CWC Q4 2015 Health and Wellness M&A and Financing Report


This report is prepared as a courtesy to the Health and Wellness business community by Columbia West Capital based on our research and information collected by our firm. Despite our dedicated efforts, occasionally a deal might be missed or appropriate credit not given to legal or financial advisors. Please feel free to contact us if you have information on a transaction that you want to ensure is included and credit attributed to appropriate advisors.

M&A - Strategic

10/6/2015 Nutraceutical International Corporation (NasdaqGS:NUTR) acquired assets of Dynamic Health Laboratories, Inc. for $19.0 million in cash. Nutraceutical International manufactures, markets, distributes, and retails branded nutritional supplements and other natural products in the United States and internationally and is based in Park City, Utah. Dynamic Health Laboratories produces and supplies natural liquid health products and is based in Brooklyn, NewYork.

10/8/2015 Santa Cruz Nutritionals, Inc. announced it acquired Life Science Nutritionals, Inc. for $40.0 million. Santa Cruz Nutritionals develops, manufactures, packages, and distributes confection-based nutritional delivery systems for the functional food and nutraceutical markets and is based in Santa Cruz, California. Life Science Nutritionals produces, sells, and distributes pectin- and gelatin-based gummy vitamins and nutritional products and is based in Burlington, Canada. Stikeman Elliott LLP served as legal advisor to Santa Cruz Nutritionals.

10/19/2015 Fresca Foods, Inc. acquired a majority stake in Wonderfully Raw Gourmet Delights. The terms of the transaction were not disclosed. Fresca Foods produces and markets natural and organic food products and is based in Louisville, Colorado. Wonderfully Raw Gourmet Delights produces organic, gluten-free, and vegan snacks and is based in Watsonville, California.

10/20/2015 North Dallas Honey Company, LP aka Nature Nate's Natural acquired Tropical Blossom Honey Co., Inc. The terms of the transaction were not disclosed. Nature Nate's Natural produces and markets honey and is based in Frisco, Texas. Tropical Blossom Honey Co. produces and retails honey and is based in Edgewater, Florida.

10/30/2015 Seneca Foods Corp. (NasdaqGS:SENE.A) acquired Gray & Company, Inc. for $36.5 million. Seneca Foods produces, packages, and sells packaged fruits and vegetables in the United States and internationally and is based in Marion, New York. Gray & Company manufactures maraschino cherries and glace fruits and is based in Hart, Michigan.

11/5/2015 W.F. Young, Inc. acquired Pure Ocean Botanicals, LLC. The terms of the transaction were not disclosed. W.F. Young develops animal and human health and wellness products and is based in East Longmeadow, Massachusetts. Pure Ocean Botanicals produces seaweed-based nutrition boosters for dogs and cats and is based in Petaluma, California.

11/15/2015 Synergy CHC Corp. (OTCBB:SNYR) acquired Nomadchoice Pty Ltd for $7.09 million. Synergy CHC markets and distributes various consumer-branded products primarily in the health and wellness industry and is based in Westbrook, Maine. Nomadchoice dba Flat Tummy Tea produces and sells tea that helps reduce tummy fat and is based in Fremantle, Australia. Steinepreis Paganin served as legal advisor to Nomadchoice. Wyrick Robbins Yates & Ponton LLP served as legal advisor to Synergy CHC.

11/19/2015 Morningbell Wellness, LLC acquired Calroy Health Sciences, LLC from Vascular Health Sciences, LLC. The terms of the transaction were not disclosed. Morningbell Wellness produces nutritional supplements and is based in Greensboro, North Carolina. Calroy Health Sciences develops healthcare supplements and is based in Scottsdale, Arizona. Vascular Health Sciences, based in American Fork, Utah, develops and distributes Arterosil, a dietary supplement that delivers the nutrition needed for a strong glycocalyx.

11/23/2015 Wholesome Sweeteners, Inc. acquired TruSweets, LLC. The terms of the transaction were not disclosed. Wholesome Sweeteners sources, packages, and supplies sweeteners and honey and is based in Sugar Land, Texas. TruSweets produces and sells candy and is based in Wheeling, Illinois.

12/1/2015 Healthy Food Ingredients, LLC acquired Suntava, Inc. The terms of the transaction were not disclosed. Healthy Food Ingredients is an import/export trading company that supplies non-GMO and organic ingredients in North America and is based in Fargo, North Dakota. Suntava produces ingredients that are naturally derived from agricultural and botanical sources for food, nutraceutical, and cosmetics manufacturers and is based in Afton, Minnesota.

12/10/2015 Glanbia plc (ISE:GL9) agreed to acquire thinkThin LLC for approximately $220.0 million in cash. Glanbia operates as a nutrition and ingredients company and is based in Kilkenny, Ireland. thinkThin produces nutritious snacks and is based in Ventura, California.

12/10/2015 Manna Pro Products, LLC acquired the assets of Nutri-Vet, LLC. In a related transaction, Manna Pro acquired the Petnology Essentials brand from 21st Century Animal Health. The terms of the transaction were not disclosed. Petnology Essentials, Nutri-Vet and other brands will operate under the name of Nutri-Vet Wellness, LLC. Manna Pro Products is a Chesterfield, Missouri-based manufacturer and marketer of animal nutrition and care products for horses, backyard poultry, goats, rabbits, cattle, pigs and companion animals. Nutri-Vet provides veterinary formulated animal supplements and complementary external products for dogs and cats and is based in Boise, Idaho. 21st Century Animal Health is a Tempe, Arizona manufacturer of animal healthcare products.

12/14/2015 Atlantic Natural Foods, LLC acquired the assets of neat foods, LLC. The terms of the transaction were not disclosed. Atlantic Natural Foods is a Nashville, North Carolina producer and distributor of vegetarian and vegan food products. neat foods produces a soy and gluten free vegetarian replacement for ground beef and is based in Lancaster, Pennsylvania.

12/8/2015 Cott Corporation (TSX:BCB) agreed to acquire Aquaterra Corporation Ltd. for $45.6 million. Cott produces and sells beverages on behalf of retailers, brand owners, and distributors worldwide and is based in Tampa, Florida. Aquaterra produces and distributes bottled drinking water and water filtration systems and is based in Mississauga, Canada.

12/17/2015 Nutrisystem, Inc. (NasdaqGS:NTRI) acquired the South Beach Diet Brand from SBD Holdings Group Corp. for $15.0 million in cash. Nutrisystem provides weight loss programs for women, men, and seniors in the United States and is based in Fort Washington, Pennsylvania. SBD Holdings Group operates the South Beach Diet brand which focuses on a balanced, heart healthy approach to weight loss and maintenance and is based in Bonita Springs, Florida. Pepper Hamilton LLP served as legal advisor to Nutrisystem. Frankfurt Kurnit Klein & Selz, P.C. and Kirkland & Ellis LLP served as legal advisors to SBD Holdings Group.

M&A - Financial

10/1/2015 Prairie Capital, L.P. and Skyline Global Partners LLC acquired National Enzyme Company, Inc. The terms of the transaction were not disclosed. National Enzyme Company manufactures enzyme-based dietary supplements and is based in Forsyth, Missouri. Prairie Capital and Skyline are private equity firms based in Chicago, Illinois.

11/19/2015 Satori Capital, LLC acquired an unknown majority stake in Suntree, LLC for $20.0 million. Phoenix, Arizona-based Suntree provides snack foods with various varieties of almonds, pistachios, pecans, cashews, walnuts, Brazil nuts, mixed nuts, trail mixes, dried fruit, and chocolate and yogurt. Satori is a private equity firm based in Dallas, Texas.

12/14/2015 Arbor Private Investment Company acquired an unknown majority stake in DPI Specialty Foods Inc. from Ornua Co-operative Limited. The terms of the transaction were not disclosed. DPI Specialty Foods markets and sells chilled and frozen gourmet, specialty, natural, organic, gluten free, and local and ethnic foods and based in Ontario, California. Ornua is an agri-food commercial co-operative based in Dublin, Ireland that is engaged in the purchase, marketing, and sale of consumer dairy products and dairy food ingredients on behalf of its members, Ireland's dairy processors, and Irish dairy farmers through its subsidiaries and a network of agents and distributors. Arbor Private Investment Company is a private equity firm based in Chicago, Illinois. Wintson & Strawn LLP served as legal advisor to Arbor.

12/14/2015 Swander Pace Capital acquired Captek Softgel International, Inc. The terms of the transaction were not disclosed. Captek manufactures softgel capsules and is based in Cerritos, California. Swander Pace Capital is a private equity firm based in San Francisco, California. Kirkland & Ellis LLP served as legal advisor to Swander Pace Capital.

Private Placements

10/2/2015 Twinlab Consolidated Holdings, Inc. (OTCBB:TLCC) announced that it entered into a stock purchase agreement for a private placement of 41,379,310 common shares at a price of $0.29 per share for gross proceeds of $12.0 million with existing investor Great Harbor Capital, LLC, an entity owned and managed by David Van Andel. Twinlab manufactures, markets, and distributes branded nutritional supplements and other natural products worldwide and is based in New York, New York. Wilk Auslander LLP served as legal advisor to Twinlab.

10/5/2015 Twinlab Consolidated Holdings, Inc. (OTCBB:TLCC) announced that it has received $24.8 million from new investor Golisano Foundation. Twinlab manufactures, markets, and distributes branded nutritional supplements and other natural products worldwide and is based in New York, New York. Golisano Foundation is one of the largest private foundations in the U.S. devoted to supporting programs for people with intellectual disabilities and is based in Pittsford, New York. Wilk Auslander LLP served as legal advisor to Twinlab. Woods Oviatt Gilman LLP served as legal advisor to Golisano Foundation.

10/6/2015 Impossible Foods, Inc. announced that it has received $108.0 million in its series D round of funding led by new investor UBS AG and including participation from new investor Viking Global Investors L.P. and existing investors Horizons Ventures, Khosla Ventures, and Bill Gates. Impossible Foods develops meats and cheeses from plants and is based in Redwood City, California.

12/4/2015 Ripple Foods, PBC announced that it received $13.6 million in funding from a group of undisclosed venture capital investors. Ripple Foods produces plant-based milk and is based in Emeryville, California.

12/7/2015 Muscle Pharm Corp. (OTCPK:MSLP) announced a private placement of a convertible secured promissory note for gross proceeds of $6.0 million. MusclePharm develops, manufactures, markets, and distributes branded nutritional supplements in the United States and internationally and is based in Denver, Colorado.

12/17/2015 Vital Farms, Inc. announced that it will receive $8.0 million in funding from two undisclosed investors. Vital Farms manufactures and markets poultry products and is based in Austin, Texas.

12/21/2015 Elysium Health, Inc. announced that it has received funding from Audrey Capital. The terms of the transaction were not disclosed. Elysium Health develops and produces advanced supplements for health needs and is based in Delray Beach, Florida. Audrey Capital is a San Francisco, California-based angel investment and research company.

12/30/2015 Numi Inc. announced that it has raised $16.0 million in a round of funding from Catamount Ventures and others. Numi processes, produces, and sells organic tea and is based in Oakland, California. Catamount Ventures is a venture capital firm based in San Francisco, California.