CW Q3 2019 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 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
7/10/2019 Hemptown Organics Corp. acquired substantially all of the assets of Kirkman Group, Inc. The terms of the transaction were not disclosed. Kirkman Group produces nutritional supplements for individuals with autism and special needs and is based in Lake Oswego, OR. Hemptown Organics produces, processes, and extracts cannabis and is based in Vancouver, Canada.
7/12/2019 An unknown buyer acquired Action Labs. The terms of the transaction were not disclosed. Action Labs manufactures and distributes vitamin/nutritional supplements and is based in Anaheim, CA.
7/18/2019 Tierra Farm, Inc. acquired Señor Sabor Organic Spice Company. The terms of the transaction were not disclosed. Señor Sabor manufactures organic spices and seasonings and is based in Pennsylvania. Tierra Farm produces and distributes nuts and dried fruits and is based in Valatie, NY.
7/18/2019 Young Living Essential Oils LC acquired Nature's Ultra. The terms of the transaction were not disclosed. Nature's Ultra manufactures cannabidiol oils and is based in Draper, UT. Young Living provides essential oils and wellness solutions and is based in Lehi, UT.
8/12/2019 Western Foods, LLC acquired American Sunny Foods, Inc. The terms of the transaction were not disclosed. American Sunny Foods manufactures rice flour and is based in Stockton, CA. Western Foods manufactures and provides natural, organic, gluten and allergen-free rice flours and ancient grain milling, blending, packaging and distribution and is based in Woodland, CA.
8/22/2019 Atrium Innovations acquired Vitamin Packs Inc., doing business as Persona. The terms of the transaction were not disclosed. Persona offers and sells online, nutrition and vitamin supplements and is based in Snoqualmie, WA. Atrium Innovations develops, manufactures, and commercializes science-based and professionally endorsed products for the health and nutrition industry and is based in Quebec, Canada.
9/23/2019 The Hershey Company (NYSE:HSY) acquired ONE Brands, LLC for $397.0 million. ONE Brands produces and markets a line of low sugar and nutritional snack bars and is based in Charlotte, NC.
M&A – Financial
7/1/2019 WM Partners, LP acquired Ultima Health Products, Inc. The terms of the transaction were not disclosed. Ultima manufactures and markets sugar-free electrolyte hydration products and is based in Cortland, OH. WM Partners is a private equity firm based in Fort Lauderdale, FL. Akerman LLP served as legal advisor to WM Partners. Carter Ledyard & Milburn, LLP served as legal advisor to Ultima.
9/11/2019 Grays Peak Capital LP acquired Freed Foods, Inc. The terms of the transaction were not disclosed. Freed Foods produces organic quinoa food products for babies and toddlers and is based in Austin, TX. Grays Peak Capital is a private equity and venture capital firm based in New York, NY.
9/23/2019 Brightstar Capital Partners, L.P. acquired Cornerstone Research & Development, Inc., doing business as Capstone Nutrition, Inc. The acquisition was made in partnership with members of Capstone's senior management team. The terms of the transaction were not disclosed. Capstone develops and manufactures nutrition products and is based in Ogden, UT. Brightstar Capital is a private equity firm based in New York, NY.
Private Placements
7/9/2019 Nuggs Labs, Inc. announced that it has received $7.0 million in a round of funding led by new investor McCain Foods Limited with participation from Rainfall Ventures, Greylock Discovery Fund, and other investors. Nuggs produces and distributes chicken nuggets made using texturized pea protein technology and is based in New York, NY. McCain Foods produces and sells frozen French fries and potato specialties, snacks, meals, and vegetables and is based in Toronto, Canada. Rainfall Ventures is a venture capital firm based in New York, NY. Greylock Partners is a venture capital firm based in Menlo Park, CA.
7/18/2019 Neptune Wellness Solutions Inc. (TSX:NEPT) announced that it has received $41.4 million in funding from Perceptive Advisors LLC and other investors. Neptune Wellness Solutions engages in the extraction, purification and formulation of health and wellness products and is based in Laval, Canada. Perceptive Advisors is an employee owned hedge fund sponsor and is based in New York, NY.
7/22/2019 Simply Delicious, Inc., doing business as Bobo's Oat Bars, Inc., announced that it has received $5.5 million in funding from BFG Partners, Range Light LLC and other investors. Bobo's produces baked oat bars and is based in Boulder, CO. BFG Partners is a venture capital firm based in Boulder, CO. Range Light is a private equity firm based in Boulder.
7/23/2019 Liquid I.V., Inc. announced that it has received $5.0 million in a round of funding led by the company's CEO Brandin Cohen and Scooter Braun with participation from Demi Lovato, Kevin Hart, Kendall Jenner, Hailey and Justin Bieber, James Corden, Gary Vaynerchuk, Serena Ventures, Usher, DJ Khaled, Steve Aoki, Patrick Schwarzenegger, Maria Shriver, Yes Theory, Freddy Wexler, Jake Kassan, Elle and Ross Walker, and Moiz Ali. Liquid I.V. produces beverages and offers Hydration Multiplier, a non-GMO electrolyte drink mix that delivers hydration to the bloodstream and is based in Marina Del Rey, CA.
7/26/2019 Green Grass Foods Inc. announced that it has received $33.6 million in funding from VMG Partners and other investors. Green Grass Foods produces dairy-free creamers and is based in Bellevue, WA. VMG Partners is a private equity firm based in San Francisco, CA.
8/13/2019 Baze Labs, Inc. announced that it has received $6.0 million in a round of funding led by new investor Nature's Way Products, LLC. Baze Labs operates an online subscription platform and mobile application for ordering personalized supplements and is based in Cambridge, MA. Nature's Way Products manufactures and sells nutritional and natural products and is based in Lehi, UT.
8/14/2019 Biena LLC announced that it has received $8.0 million in its Series B round of funding from MAW Investments and other investors. Biena produces and markets a flavored line of roasted chickpeas and is based in Boston, MA. MAW Investments is a private equity firm created by former Snyder's-Lance executives.
8/19/2019 Fulfil Holdings Ltd. announced that it has received an equity round of funding from new investor C7 Ventures. Fulfil produces and sells high-protein, vitamin fortified nutrition bars and is based in Ireland. C7 Ventures is the venture capital arm of The Hershey Company (NYSE:HSY).
8/29/2019 Puris Proteins, LLC announced that is has received $75.0 million in funding from one investor. Puris Proteins produces plant-based and non-GMO food ingredients and products and is based in Minneapolis, MN.
9/4/2019 Culture Fresh Foods, Inc. announced that is has received $11.0 million in funding from 39 investors including FreshTracks Capital, new investor CEI Ventures, Inc., and several angel investors. Culture Fresh Foods produces organic plant-based foods and is based in Studio City, CA. CEI Ventures is the private equity and venture capital arm of Coastal Enterprises, Inc. and is based in Brunswick, ME. FreshTracks Capital is a private equity and venture capital firm based in Shelburne, VT.
9/5/2019 New Wave Foods, Inc. announced that it has received a round of funding from new investor Tyson Ventures, LLC. New Wave Foods produces plant-based seafood products and is based in San Francisco, CA. Tyson Ventures is the venture capital arm of Tyson Foods, Inc. and is based in Chicago, IL.
9/6/2019 NOVAMEAT TECH SL announced that it has received a round of funding from new investor New Crop Capital. NOVAMEAT provides a bio printing-based technology method of producing plant-based meat and is based in Barcelona, Spain. New Crop Capital is a venture capital firm based in Washington, D.C.
9/12/2019 Magic Spoon Inc. announced that it has received $5.5 million in funding led by new investor Lightspeed Venture Partners with participation from Collaborative Fund, Wild Ventures and other investors. Magic Spoon produces healthy, organic, and gluten-free cereal and is based in Brooklyn, NY. Lightspeed is a venture capital firm based in Menlo Park, CA. Collaborative Fund is a private equity and venture capital firm based in New York, NY. Wild Ventures is a private investment firm based in Los Angeles, CA.
9/17/2019 Cerebelly Inc. announced that it has raised $6.7 million in funding from Imaginary Ventures and other investors. Cerebelly produces supplement food for infants and is based in Santa Cruz, CA. Imaginary Ventures is a venture capital firm based in the United Kingdom.
9/26/2019 BEFORE Brands, Inc. announced that it has received an equity round of funding from Nestlé Health Science S.A. and returning investor Gurnet Point Capital Limited. BEFORE Brands provides science-based nutritional products and is based in Menlo Park, CA. Nestlé Health Science manufactures and distributes nutritional solutions for consumers, patients, and its partners and is based in Vevey, Switzerland. Gurnet Point Capital is a private equity and venture capital firm based in Cambridge, MA. Goodwin Procter LLP served as legal advisor to BEFORE Brands.