CW Q4 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
10/1/2019 Taylor Farms Tennessee Inc. acquired substantially all assets of Club Chef LLC. The terms of the transaction were not disclosed. Club Chef processes, packages, and distributes fruits and vegetables and is based in Covington, KY. Taylor Farms Tennessee is a subsidiary of Taylor Fresh Foods, Inc., a Salinas, CA-based producer of salads and healthy fresh foods.
10/4/2019 Synutra International, Inc. acquired Harbin Alfbeta Dairy Co., Ltd. The terms of the transaction were not disclosed. Harbin Alfbeta produces milk powder for infants and is based in Harbin, China. Synutra produces, distributes and sells dairy-based nutritional products and is based in Rockville, MD.
10/8/2019 Peak Foods, LLC acquired Blendtopia, Inc. The terms of the transaction were not disclosed. Blendtopia produces whole food products including smoothie blends and is based in Nashville, TN. Peak Foods engages in the manufacture and sale of frozen whipped topping products for foodservice operators and is based in Boise, ID.
10/8/2019 Hometown Food Company acquired Arrowhead Mills, Inc. and nSpired Natural Foods, Inc. from The Hain Celestial Group, Inc. (NasdaqGS:HAIN) for $15.0 million. Arrowhead Mills and nSpired produce organic cereals, chocolates, and baking products and are based in the United States. Holland & Knight LLP served as legal advisor to Hometown Food Company.
10/15/2019 KIND LLC acquired Creative Snacks Co., LLC. The terms of the transaction were not disclosed. Creative Snacks produces and sells snack food, dried fruits, pretzels, nuts and seeds, granolas, and other items and is based in Greensboro, NC. KIND engages in the production and distribution of bars, grain bars, breakfast bars, fruit snacks, and grain clusters and is based in New York, NY.
10/25/2019 Calbee North America, LLC acquired an 80% stake in Warnock Food Products Inc. The terms of the transaction were not disclosed. Warnock produces organic, non-GMO, gluten-free, kosher, whole grain, and peanut-free snacks and is based in Madera, CA. Calbee manufactures and sells snack foods and is based in Fairfield, CA.
11/4/2019 Youngevity International, Inc. (NasdaqCM:YGYI) acquired certain assets of BeneYOU, LLC. The terms of the transaction were not disclosed. BeneYOU manufactures and supplies nutritional and beauty products online and is based in Lindon, UT. Youngevity develops and distributes health and nutrition-related products and services and is based in Chula Vista, CA.
11/5/2019 Deerland Probiotics & Enzymes, Inc. acquired Bifodan A/S. The terms of the transaction were not disclosed. Bifodan develops and manufactures probiotic solutions in capsule, tablet, or powder forms and is based in Hundested, Denmark. Deerland develops solutions that benefit microbiome health using probiotic, prebiotic and enzyme technology and is based in Kennesaw, GA.
11/12/2019 DCC Health & Beauty Solutions Limited acquired Ion Laboratories, Inc. for $60.0 million. Ion is a provider of contract manufacturing and related services to the health supplements and nutritional products market and is based in Largo, FL. DCC Health & Beauty manufactures nutritional, cosmetic and pharmaceutical products and provides contract manufacturing services to the health and beauty sectors and is based in Runcorn, United Kingdom.
11/20/2019 Cal-Maine Foods, Inc. (NasdaqGS:CALM) acquired substantially all assets of Mahard Egg Farm, Inc. The terms of the transaction were not disclosed. Mahard engages in the processing, packaging, and sale of eggs and is based in Prosper, TX. Cal-Maine produces and distributes organic and specialty shell eggs, such as nutritionally enhanced, cage free, organic, and brown eggs and is based in Jackson, MS.
12/2/2019 Hostess Brands, Inc. (NASDAQ: TWNK, TWNKW) agreed to acquire Voortman Cookies Limited for $319.8 million. The transaction, which was finalized on January 3, 2020, was intended to extend the Hostess portfolio into the growing cookie and better-for-you sweet snacking categories. Voortman produces and sells cookies, including classic, sugar free, Omega 3, and other varieties, and is based in Burlington, Ontario. Stikeman Elliott LLP served as legal advisor to Voortman. Davies Ward Phillips & Vineberg LLP and Morgan, Lewis & Bockius LLP served as legal advisors to Hostess.
12/13/2019 SensoryEffects Flavor Company acquired Zumbro River Brand, Inc. for $52.0 million. Zumbro develops, markets, and manufactures agglomerated and extruded products for the food and beverage industry, including high protein, gluten-free, and vegan varieties of specialty extruded snacks, cereals, and crisps and is based in Albert Lea, MN. SensoryEffects, a subsidiary of Balchem Corporation, develops and manufactures powder and liquid ingredients and flavorings for human health and nutrition and is based in Maryland Heights, MO.
12/18/2019 Mantrose-Haeuser Co., Inc. acquired Profile Food Ingredients, LLC. The terms of the transaction were not disclosed. Profile Food Ingredients produces dry stabilizer and emulsifier blends for the food industry and is based in Elgin, IL. Mantrose-Haeuser provides edible coatings and films for confections, pharmaceuticals, vitamins, health supplements, fruits, vegetables, seeds, nuts, and baked goods and is based in Westport, CT.
M&A - Financial
10/9/2019 Velocity Snack Brands acquired popchips, inc. The terms of the transaction were not disclosed. Popchips produces and supplies snack food products, including popped potato chips and pea chips in various flavors, sweet potato chips, and popped tortilla chips and is based in Playa Vista, CA. Velocity Snack Brands is a private equity and venture capital firm based in Los Angeles, CA. Morrison & Foerster LLP served as legal advisor to popchips.
11/25/2019 Butterfly Enterprises, LLC and Ontario Teachers' Pension Plan Board acquired an unknown majority stake in Orgain, Inc. The terms of the transaction were not disclosed. Orgain produces nutritional and organic food and supplements and is based in Irvine, CA. Butterfly is a private equity firm based in Beverly Hills, CA. Ontario Teachers' Pension Plan Board is a privately owned pension fund based in Toronto, Ontario. The Giannuzzi Group, LLP served as legal advisor to Orgain. Kirkland & Ellis LLP served as legal advisor to Butterfly.
12/27/2019 Blue Point Capital Partners in partnership with management and Country Pure Foods, Inc.'s former CEO, Raymond Lee, acquired Country Pure Foods, Inc. Country Pure Foods produces, processes, and distributes juice products and other beverages and is based in Akron, OH. Blue Point is a private equity firm based in Cleveland, OH.
Private Placements
10/14/2019 Cricket One Inc. announced that it has received a round of funding co-led by new investors 500 Startups and Masik Enterprises. The terms of the transaction were not disclosed. Cricket One produces cricket protein powder and is based in Ho Chi Minh City, Vietnam. 500 Startups is an incubator and venture capital firm based in Mountain View, CA.
10/16/2019 Forager Project, LLC announced that it has received funding from new investor Danone Manifesto Ventures. Forager Project produces and sells organic foods and beverages and is based in Indio, CA. Danone Manifesto Ventures is the venture capital arm of Danone and is based in New York, NY.
10/23/2019 Planted Foods AG announced that it has received $7.1 million in its seed round of funding from Blue Horizon Corporation, Joyance Partners and other investors. Planted Foods develops plant-based meat and is based in Zürich, Switzerland. Blue Horizon is a principal investment firm based in Zürich. Joyance is a venture capital firm based in San Francisco, CA. MME Legal AG served as legal advisor to Planted Foods.
11/7/2019 Made For_ Inc., dba Hundred, announced that it has received $8.0 million in its Series A round of funding from Insight Venture Partners. Hundred develops and sells personalized vitamins and supplements and is based in Orange, NJ. Insight is a venture capital and private equity firm based in New York, NY.
11/8/2019 International Finance Corporation acquired an additional unknown minority stake in Ascendis Health Limited (JSE:ASC). The terms of the transaction were not disclosed. Ascendis Health manufactures and distributes healthcare products internationally and is based in Johannesburg, South Africa. International Finance is a private equity and venture capital arm of The World Bank Group and is based in Washington, D.C.
11/12/2019 Banza LLC announced that it has received $20.0 million in its Series B round of funding from Prelude Growth Partners, Enlightened Hospitality Investments Management LLC, and other investors. Banza produces and wholesales chickpea pastas and is based in Detroit, MI. Prelude is a private equity firm based in New York, NY. Enlightened Hospitality Investments is the strategic growth fund of Union Square Hospitality Group and is based in New York, NY.
11/13/2019 Miyoko's Kitchen, Inc. announced that it has received a round of funding from Ellen DeGeneres and Portia de Rossi. The terms of the transaction were not disclosed. Miyoko's produces and sells artisanal vegan cheese products and is based in Fairfax, CA.
11/14/2019 Particle Dynamics, Inc. announced that it has received funding from investor Farragut Capital Partners, LLC and BroadOak Capital Partners LLC. Particle Dynamics develops and markets specialty ingredient product lines for the pharmaceutical, nutritional, food, and personal-care industries and is based in St. Louis, MO. Farragut is a private equity firm based in Washington, D.C. BroadOak is a private equity firm based in Bethesda, MD.
11/20/2019 Remrise announced that it has received $8.2 million in its seed round of funding led by new investor Founders Fund with participation from AME Cloud Ventures, Atomic Management LLC, and other investors. Remrise offers natural sleep aids with personalized, plant-powered formulas to improve sleep cycles and is based in San Francisco, CA. Founders Fund, AME, and Atomic are venture capital firms based in San Francisco, CA.
12/4/2019 Nothing But Real, LLC announced that it has received a round of funding from Danone Manifesto Ventures and other investors. Nothing But Real produces plant-based beverages and yogurts and is based in Palm Beach Gardens, FL. Danone Manifesto Ventures is the venture capital arm of Danone and is based in New York, NY.
12/10/2019 Caer, Inc. announced that it has raised $8.0 million in a round of funding from Allbirds, Inc., JAND, Inc., Uber Technologies, Inc. (NYSE:UBER), and other investors. Caer produces organic baby food products and is based in Los Angeles, CA. Allbirds manufactures sustainable footwear and is based in San Francisco, CA. JAND, doing business as Warby Parker, designs, manufactures, and retails prescription-based eyeglasses and sunglasses and is based in New York, NY.
12/11/2019 Perfect Day, Inc. announced that it has received $140.0 million in its Series C round of funding led by Temasek Capital Management Pte Ltd with participation from Horizons Ventures Limited and other investors. Perfect Day produces animal-free, flora-based dairy milk and related products and is based in Emeryville, CA. Temasek is a global investment company based in Singapore. Horizons is a venture capital firm based in Central, Hong Kong.
12/19/2019 Bridge Brands, LLC announced that it has received funding from Rocana Venture Partners, Stray Dog Capital, and other investors. Bridge Brands produces plant-based protein drinks and is based in Los Angeles, CA. Rocana is a venture capital firm in Los Angeles, CA. Stray Dog is a venture capital firm based in Leawood, KS.
12/23/2019 Elysium Health, Inc. announced that it has received $40.0 million in a round of funding from GISEV Family Office, Western Technology Investment, and other investors. Elysium develops and produces advanced supplements for health needs and is based in New York, NY. GISEV is a family office based in Lugano, Switzerland. Western Technology Investment is a venture capital firm based in Portola Valley, CA.
12/26/2019 Love Grown Foods, LLC announced that it has received $4.6 million in funding from 7 investors. Love Grown Foods is a natural food company that manufactures a line of all-natural breakfast foods and is based in Denver, CO.