Columbia West Capital News - Industry Deal Intelligence
12.08.17 CWC Q3 2017 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

7/6/2017 Toosum Healthy Foods, LLC acquired Kutoa Company, LLC. The terms of the transaction were not disclosed. Toosum Healthy Foods develops and markets snack food and is based in Seattle, WA. Kutoa Company produces and markets health bars and is based in Austin, TX.

7/10/2017 Bay State Milling Company acquired a stake in MGM Seed & Grain. The terms of the transaction were not disclosed. Bay State Milling Company develops and produces grain-based ingredient solutions for retail bakeries, commercial bakeries, foodservice operators, distributors, and food manufacturers and is based in Quincy, MA. MGM Seed & Grain processes, manufactures, and distributes gluten-free oat products, including rolled, quick, and steel-cut oats and is based in Saskatoon, Canada.

7/11/2017 T. Hasegawa U.S.A. Inc. acquired Affinity Flavors Inc. The terms of the transaction were not disclosed. T. Hasegawa manufactures flavors and fragrances food products and is based in Cerritos, CA. Affinity Flavors manufactures natural flavors for food products and is based in Corona, CA.

7/14/2017 United 1 International Laboratories LLC acquired H&N Distribution, Inc. from RiceBran Technologies (NasdaqCM:RIBT) for $18.5 million. United 1 is engaged in the research and development, manufacture, and packaging of topical OTC pharmaceuticals, personal care consumer products, liquid and powder dietary supplements, acidified food, and household and auto care products and is based in Carrollton, TX. H&N Distribution provides food blending, manufacturing, and distribution of food ingredients and is based in Irving, TX.

7/18/2017 Marubeni Corporation acquired Creekstone Farms Premium Beef, LLC for $170.0 million. Marubeni operates as a general trading company and is based in Tokyo, Japan. Creekstone Farms produces, sells, and exports Black Angus beef, antibiotic-free Duroc pork, and their value-added products and is based in Arkansas City, KS.

7/25/2017 Sesajal, S.A. De C.V. acquired a majority stake in Chosen Foods, LLC. The terms of the transaction were not disclosed. Sesajal processes and produces specialty oils, oily seeds and their derivatives, and Mediterranean cuisine ingredients and is based in Guadalajara, Mexico. Chosen Foods manufactures and markets packed food, oil, and beverages and is based in San Diego, CA. Dentons US LLP served as legal advisor to Sesajal. Davis Wright Tremaine LLP served as legal advisor to Chosen Foods.

8/1/2017 Groupe Lactalis S.A. acquired Stonyfield Farm, Inc. from Danone (ENXTPA:BN) for $875.0 million. Groupe Lactalis processes, produces, and markets milk and dairy products and is based in Laval, France. Stonyfield Farm produces and sells organic yogurt and is based in Londonderry, NH. Dentons France served as legal advisor to Groupe Lactalis. Wachtell, Lipton, Rosen & Katz LLP served as legal advisor to Danone.

8/4/2017 Captek Softgel International, Inc. acquired J+D Laboratories, Inc. The terms of the transaction were not disclosed. Captek manufactures custom dietary supplement formulations and is based in Cerritos, CA. J+D Laboratories manufactures dietary supplements and products and is based in Vista, CA.

8/8/2017 Wellnext LLC acquired NeoCell Corporation. The terms of the transaction were not disclosed. Wellnext develops, packages, and markets nutritional products and is based in Sunrise, FL. NeoCell develops natural supplements, skin care, and health and wellness products and is based in Irvine, CA. Pepper Hamilton LLP served as legal advisor to Wellnext.

8/17/2017 J&J Snack Foods Corp. (NasdaqGS:JJSF) acquired Labriola, Inc. The terms of the transaction were not disclosed. J&J Snack Foods manufactures, markets, and distributes various nutritional snack foods and beverages and is based in Pennsauken, NJ. Labriola Baking Company operates as a baking company and manufactures breads and is based in Alsip, IL.

8/17/2017 McCormick & Company, Incorporated (NYSE:MKC) agreed to acquire French's Food companies and Tigers Milk LLC (Food business) from Reckitt Benckiser LLC and The R.T. French's Food Group Limited for $4.2 billion. McCormick & Company manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry and is based in Sparks, MD. Reckitt Benckiser Group plc, Food Division comprises a business unit which produces packaged food. Reckitt Benckiser manufactures household, health and personal care, and food products and is based in Parsippany, NJ. Cleary Gottlieb Steen & Hamilton LLP served as legal advisor to McCormick & Company. Davis Polk & Wardwell LLP served as legal advisor to Reckitt Benckiser and The R.T. French's Food Group.

8/25/2017 Innophos Holdings, Inc. (NasdaqGS:IPHS) agreed to acquire Novel Ingredient Services, LLC for $125.1 million. Innophos Holdings, through its subsidiaries, produces performance-critical and nutritional specialty ingredients with applications in food, beverage, dietary supplements, pharmaceutical, oral care, and industrial end markets and is based in Cranbury, NJ. Novel Ingredient Services engages in the manufacture and supply of ingredients for nutraceutical, food and beverage, sports nutrition, and pet care industries and is based in West Caldwell, NJ. Baker Botts LLP served as legal advisor to Innophos Holdings. Winston & Strawn LLP served as legal advisor to Novel Ingredient Services.

9/1/2017 Otsuka Pharmaceutical Co., Ltd. agreed to acquire Daiya Foods Inc. for $323.5 million. Otsuka manufactures, distributes, exports, and imports pharmaceuticals, clinical testing equipment, medical devices and equipment, food products, cosmetics, and other related products and is based in Tokyo, Japan. Daiya Foods produces and supplies dairy-, gluten-, and soy-free plant-based food items and is based in Vancouver, Canada.

9/12/2017 Naturex S.A. (ENXTPA:NRX) acquired selected industrial technologies and operations from Haliburton International Foods, Inc. The terms of the transaction were not disclosed. Naturex sources, manufactures, and markets natural specialty ingredients for the food, health, and cosmetic industries and is based in Avignon, France. The acquired division provides natural vegetable-based solutions.

9/19/2017 Manna Pro Products, LLC acquired PetzLife Products, Inc. The terms of the transaction were not disclosed. Manna Pro Products manufactures and markets animal feeds, supplements and other products for animal health and nutrition and is based in Chesterfield, MO. PetzLife Products markets pet care products and is based in Spring Park, MN.

9/21/2017 High Performance Beverages Company (OTCPK:TBEV) agreed to acquire a 51% stake in Columbia Basin Dairy Holdings, LLC. High Performance Beverages Company develops, manufactures, distributes, markets, and sells sports performance drinks and is based in Cave Creek, AZ. Columbia Basin Dairy Holdings produces milk and is based in the United States.

9/29/2017 MeriCal, LLC acquired Pro Pac Labs, Inc. dba Global Health Industries (GHI). The terms of the transaction were not disclosed. MeriCal is a developer, manufacturer, and packager of probiotic and other nutritional supplements and is based in Orange, CA. GHI is a highly specialized manufacturer and packager of probiotics, including bacteria, spores and yeast products, with a particularly strong presence in the probiotic segment of the Vitamins, Minerals and Supplements (VMS) industry and is based in Ogden, UT. Columbia West Capital served as the exclusive financial advisor to GHI. Durham Jones & Pinegar, P.C. served as legal advisor to GHI.    

M&A - Financial

7/17/2017 Peak Rock Capital acquired Gold Coast Bakeries, LLC. The terms of the transaction were not disclosed. Peak Rock Capital is a private equity and venture capital firm based in Austin, TX. Gold Coast Bakeries produces organic breads, buns, rolls, and sweet goods and is based in Santa Ana, CA.

7/25/2017 The Automotive Resource Network Holdings, Inc. (OTCPK:ARNH) acquired Intensity Nutrition Supplement Company. The terms of the transaction were not disclosed. The Automotive Resource Network Holdings focuses on acquiring business to its portfolio and is based in Oakland Park, FL. Intensity Nutrition Supplement Company develops and manufactures nutritional products for athletes and is based in Wheat Ridge, CO.

9/25/2017 Audax Group, Inc. acquired WellSpring Pharmaceutical Corporation from Sentinel Capital Partners, L.L.C. and others. Following the sale of WellSpring, Sentinel will continue to own WellSpring's contract manufacturing business. The terms of the transaction were not disclosed. Audax Group is a private equity and venture capital firm based in Boston, MA. WellSpring manufactures, markets, and distributes prescription and over-the-counter medicines and is based in Sarasota, FL. Sentinel Capital Partners is a private equity firm based in New York, NY.

9/28/2017 KKR & Co. L.P. (NYSE:KKR) acquired an unknown majority stake in The Natures Bounty Co. The terms of the transaction were not disclosed. KKR & Co. is a private equity and real estate investment firm based in New York, NY. The Natures Bounty Co. manufactures and distributes vitamins, minerals, herb, sports, active nutrition and supplement products and is based in Ronkonkoma, NY. Simpson Thacher & Bartlett LLP served as legal advisor to KKR.

10/2/2017 B&G Foods, Inc. (NYSE:BGS) signed a definitive agreement to acquire Back to Nature Foods Company, LLC for $162.5 million. B&G Foods manufactures, sells, and distributes a portfolio of shelf-stable, and frozen food and household products and is based in Parsippany, NJ. Back to Nature Foods produces cookies, crackers, granolas, juices, and nuts and is based in Madison, WI. Dechert LLP served as legal advisor to B&G Foods. Holland & Knight LLP and Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisors to Back to Nature Foods.

Private Placements

7/11/2017 Sonoma Creamery LLC announced that it has received $10.0 million in an equity round of funding from returning investor Svoboda Capital Partners. Sonoma Creamery produces Sonoma Jack and Sonoma cheese brands and is based in Sonoma, CA. Svoboda Capital is a private equity firm based in Chicago, IL.

7/26/2017 Javazen, also known as Caoexist Superfood Company, LLC, announced that it has received funding from new investor Maryland Technology Development Corporation. Caoexist Superfood Company produces Javazen, a blend of matcha green tea and coffee, and is based in Chantilly, VA. Maryland Technology Development Corporation promotes technology and technology-based economic development in the state and is based in Columbia, MD.

8/1/2017 Impossible Foods, Inc. announced that it has received $75.0 million in its Series E round of funding led by Temasek Holdings (Private) Limited and including participation from existing investors Khosla Ventures, Horizons Ventures Limited, Open Philanthropy Project and Bill Gates. Impossible Foods develops meats and cheeses from plants and is based in Redwood City, CA. Temasek Holdings is a sovereign wealth fund of the Government of Singapore.

8/1/2017 Natals, Inc. announced that it has raised $10.5 million in its Series A round of funding from The Founders Fund and other investors. Natals develops nutritional supplements under the brand name Ritual and is based in Los Angeles, CA. The Founders Fund is a venture capital firm based in San Francisco, CA.

8/14/2017 Veggie Noodle Co., LLC received funding from new investor, Encore Consumer Capital. Veggie Noodle Co. produces vegetable noodles in different variants, such as sweet potato, zucchini, butternut squash, and beetroot and is based in Austin, TX. Encore Consumer Capital is a private equity firm based in San Francisco, CA.

8/23/2017 Heavenly Organics, LLC announced that it will receive $4.1 million in a round of funding from two investors. Heavenly Organics engages in growing, producing, and distributing organic food ingredients and products to customers worldwide and is based in Fairfield, IA.

9/5/2017 Healthy Kids Limited announced that it has received $22.4 million in funding from new investor Profile Capital Management LLC. Healthy Kids provides prepared purees, meals, and fruit and vegetable pouches for babies and toddlers and is based in London, United Kingdom. Profile Capital is a principal investment firm based in the United States.

9/6/2017 Bhakti Chai LLC announced that it has received $5.3 million in funding. Bhakti Chai produces and sells concentrates, ready-to-drinks, and artisan teas and is based in Boulder, CO.

9/12/2017 Frozen Harvest Intelligence, Inc. announced that it has received $5.0 million in a round of funding from new investor Schwan's Food Service, Inc. Frozen Harvest Intelligence, doing business as Raised Real, offers pre-portioned, packed meals of organically-sourced whole fruits and veggies for babies and is based in San Francisco, CA. Schwan's markets and distributes frozen-food products and meal solutions to schools, colleges and universities, hospitals, chain restaurants, convenience stores, and other food service channels in the United States and is based in Marshall, MN.

9/13/2017 RiceBran Technologies (NasdaqCM:RIBT) announced that it has raised $2.9 million in funding from new investor Continental Grain Company Corp. RiceBran Technologies processes and markets healthy, natural, and nutrient dense products derived from raw rice bran and is based in Scottsdale, AZ. Continental Grain Company engages in agricultural and protein-based businesses and is based in New York, NY.

9/14/2017 Mikey's announced that it has received $5.0 million in a round of funding from new investor Factory LLC. Mikey's is a gluten-free baked food company based in Scottsdale, AZ. Factory LLC rents free-standing refrigeration and coolers to retailers and is based in Bethlehem, PA.

9/20/2017 Drink Eat Well, Inc. announced that it has received a round of funding from new investor VG Growth Partners LLC. Drink Eat Well, doing business as Hilary's Eat Well, operates as a food manufacturing company offering veggie burgers, bean burgers, hemp and greens burgers, and veggie bites and is based in Lawrence, KA. VG Growth Partners is a venture capital and private equity firm based in Staten Island, NY.

9/25/2017 Natals, Inc. announced that it has received $43.0 million in its Series B round of funding led by Insight Venture Partners LLC. Natals develops nutritional supplements under the brand name Ritual and is based in Los Angeles, CA. Insight Venture Partners is a venture capital and private equity firm based in New York, NY.

9/29/2017 Green Park Snacks Ltd announced that it will receive $10.0 million in a round of funding from CAVU Venture Partners. Green Park Snacks produces and markets organic chickpea puffs and is based in London, United Kingdom. CAVU Venture Partners is a venture capital and private equity firm based in New York, NY.