CW Q1 2020 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

1/3/2020  Atrium Innovations acquired LivingMatrix, Inc. The terms of the transaction were not disclosed. LivingMatrix develops a cloud-based application for functional medicine practitioners that streamlines and automates the paper intake process, maps patient information and tracks patients' progress and is based in Glen Allen, VA. Atrium Innovations develops, manufactures, and commercializes science-based and professionally endorsed products for the health and nutrition industry and is based in Quebec, Canada.

1/7/2020  Quinoa Corporation announced that it acquired Pamela's Products, Inc. The transactions closed 12/31/2019. The terms of the transaction were not disclosed. Pamela's produces gluten-free baking mixes and baked goods and is based in Ukiah, CA. Quinoa Corporation provides gluten-free grains, plant-based protein, and organic wheat-free grains and is based in Boulder, CO.

1/7/2020  Archer-Daniels-Midland Company (NYSE:ADM) acquired Yerbalatina Ltda. The terms of the transaction were not disclosed. Yerbalatina produces natural plant-based extracts and ingredients and is based in Colombo, Brazil. Archer-Daniels-Midland procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States and internationally and is based in Chicago, IL.

1/7/2020  GrubMarket, Inc. acquired Eating with the Seasons Inc. and EJ Food Distributor Inc. The terms of the transaction were not disclosed. Eating with the Seasons engages in the production of organic fruits and vegetables. EJ Food Distributor engages in sourcing and delivering dry goods for restaurants across Northern California. GrubMarket provides a fresh and healthy foods online marketplace and is based in San Francisco, CA.

1/14/2020  Purity Organic, LLC acquired Dunn's River Brands, LLC. The terms of the transaction were not disclosed. Dunn's manages and advises beverage brands and is based in Frisco, TX. Purity Organic produces and sells juices and teas from fruits, roots, veggies and spices and is based in Oakland, CA.

1/15/2020  TB12, Inc. acquired VitalFit Nutrition. The terms of the transaction were not disclosed. VitalFit manufactures natural supplements and is based in the United States. TB12 produces and distributes plant-based nutritional supplements and is based in Foxboro, MA.

1/22/2020  Isagenix International, LLC acquired Zija International, Inc. The terms of the transaction were not disclosed. Zija manufactures and sells health and wellness products and is based in Lehi, UT. Isagenix provides weight loss, healthy aging, and skin care cosmetics products and is based in Gilbert, AZ.

1/22/2020  Green Boy Group B.V. acquired Sweet Nature Inc. The terms of the transaction were not disclosed. Sweet Nature distributes specialty non-GMO and organic syrups and is based in Las Vegas, NV. Green Boy imports and supplies non-GMO and organic food and feed ingredients and is based in Amsterdam, Netherlands.

1/23/2020  Keurig Dr Pepper Inc. (NYSE:KDP) acquired Limitless Coffee, LLC. The terms of the transaction were not disclosed. Limitless Coffee produces and sells coffee and tea and is based in Chicago, IL.

1/27/2020  The Good Bean, Inc. announced that it acquired RB Foods, Inc., dba Beanitos, Inc. The transaction closed on 12/31/2019. The terms of the transaction were not disclosed. Beanitos produces bean chips and is based in Austin, TX. The Good Bean produces and supplies bean snacks and is based in Berkeley, CA.

1/31/2020  AGRANA Beteiligungs-Aktiengesellschaft (WBAG:AGR) acquired Marroquin Organic International, Inc. The terms of the transaction were not disclosed. Marroquin provides organic and non-GMO ingredients and is based in Santa Cruz, CA. AGRANA operates as a processor of agricultural raw materials worldwide and is based in Vienna, Austria.

2/5/2020  Brothers International Desserts Inc. acquired Schoep's Ice Cream Co., Inc. for $8.4 million. Schoep's Ice Cream produces and sells ice cream, novelties and sherbet and is based in Madison, WI. Brothers International Desserts produces frozen desserts, including organic fruit bars, vegan frozen desserts, and sorbets and is based in Irvine, CA.

2/17/2020  An unknown buyer acquired Dole Philippines, Inc. for $37.6 million. Dole Philippines produces and markets fresh fruits, vegetables and cut flowers and is based in Makati City, Philippines.

2/17/2020  Foods United, Inc. acquired LikeMeat GmbH. The terms of the transaction were not disclosed. Foods United also recently announced its acquisition of LIVEKINDLY, a plant-based digital media platform based in Vancouver, BC, and rebranded as The LIVEKINDLY Company. LikeMeat produces plant-based meat product substitutes and is based in Wetschen, Germany. The LIVEKINDLY Company, a subsidiary of the Swiss investor Blue Horizon, produces plant-based food products and is based in New York, NY.

2/20/2020  The Executive Team of Cedar's Mediterranean Foods, Inc. acquired Brekki LLC. The terms of the transaction were not disclosed. Brekki manufactures oat-based breakfast products and is based in Carlsbad, CA. Cedar's produces and distributes Mediterranean foods and is based in Haverhill, MA.

2/28/2020  Westrock Coffee Company, LLC acquired S&D Coffee, Inc. for $405.0 million. S&D engages in roasting, blending and supplying coffee, iced tea and extracts for customers in the United States and Canada and is based in Concord, NC. Westrock roasts, produces and exports coffee and is based in North Little Rock, AR. Wachtell, Lipton, Rosen & Katz LLP served as legal advisor to Westrock.

3/2/2020  Nassau Candy, Inc. acquired Island Natural, Inc. The terms of the transaction were not disclosed. Island Natural sells and distributes natural products and is based in Long Island City, NY. Nassau Candy produces, imports and distributes specialty confections, gourmet food and perishables and is based in Hicksville, NY.

3/16/2020  US Durum Products Ltd. acquired Casbah Sahara Natural Foods, Inc. from The Hain Celestial Group, Inc. (NasdaqGS:HAIN). The terms of the transaction were not disclosed. Casbah produces vegetarian prepared mixes and side dishes and is based in Boulder, CO. US Durum produces couscous food products and is based in Lancaster, PA. Manatt, Phelps & Phillips, LLP served as legal advisor for The Hain Celestial Group.

3/25/2020  DCC plc (LSE:DCC) acquired Amerilab Technologies, Inc. The terms of the transaction were not disclosed. Amerilab is engaged in the research and development, manufacturing, and packaging of effervescent and non-effervescent herbal and dietary supplements and is based in Plymouth, MN. DCC provides sales, marketing and support services worldwide and is based in Dublin, Ireland.

3/25/2020  Cambridge Commodities Limited acquired the business of Ultimate Superfoods, Inc. The terms of the transaction were not disclosed. Ultimate Superfoods is a raw and organic superfood wholesaler based in Moorpark, CA. Cambridge manufactures and supplies nutritional ingredients and finished products to sports nutrition, health and wellbeing, animal nutrition, and food industries and is based in Ely, United Kingdom.

M&A - Financial

1/17/2020  Highlander Partners, L.P. acquired an unknown majority stake in SanoVita. The terms of the transaction were not disclosed. SanoVita produces organic and natural food products and is based in Ramnicu Valcea, Romania. Highlander is a private equity firm based in Dallas, TX. Kinstellar served as legal advisor to Highlander Partners. Radu Taracila Padurari Retevoescu SCA served as legal advisor to SanoVita's founders.

3/24/2020  Grays Peak Capital LP acquired First Start Holdings Inc., dba Nosh Foods. The terms of the transaction were not disclosed. Nosh Foods provides organic food and snacking products for babies, toddlers and little kids and is based in Commerce, CA. Grays Peak is a private equity and venture capital firm based in New York, NY.

Private Placements

1/6/2020  Only What You Need, Inc. announced that it has received $7.5 million in a round of funding led by Powerplant Ventures, LLC with participation from new investors Halen Brands, Inc. and Clearlake Capital Group, L.P. Only What You Need produces and sells nutrition products, including protein drinks and powders, meal replacement shakes and dairy-free milk, and is based in Fairfield, NJ. Powerplant is a venture capital firm based in Hermosa Beach, CA. Halen Brands provides management services for consumer-packaged goods in the food segment and is based in Fairfield, NJ. Clearlake is a private equity firm based in Santa Monica, CA.

1/6/2020  Ritual Zero Proof announced that it has received an equity round of funding from Distill Ventures LLP. Ritual Zero Proof produces non-alcoholic gin and whisky products that are no & low carb and gluten free and is based in Chicago, IL. Distill Ventures is an accelerator and venture capital arm based in London, United Kingdom.

1/7/2020  Mosa Meat B.V. announced that it has received a round of funding from new investors Lowercarbon Capital and Nutreco B.V. Mosa Meat develops tissue engineering into a technology that can mass-produce cultured meat and is based in Maastricht, Netherlands. Lowercarbon Capital is a venture capital and private equity firm based in the United States. Nutreco manufactures animal nutrition and fish feed products and is based in Boxmeer, Netherlands.

1/9/2020  Plant Meat Limited, dba THIS, announced that it has received $6.1 million in a round of funding led by Backed LLP with participation from Idinvest Partners SA, Manta Ray Ventures, and other investors. THIS produces ready to eat food from soy bean protein, water, and pea protein and is based in London, United Kingdom. Backed is a venture capital firm based in London, United Kingdom. Idinvest is a private equity and venture capital firm based in Paris, France. Manta Ray Ventures is a venture capital firm based in Missouri City, Texas.

1/10/2020  Just Spices GmbH announced that it has received $14.5 million in its Series B round of funding from Five Seasons Ventures Sarl, Coefficient Capital, and Bitburger Ventures GmbH. Just Spices manufactures and retails spices for consumers and businesses and is based in Düsseldorf, Germany. Five Seasons Ventures Sarl is a venture capital firm based in Paris, France. Coefficient Capital is a venture capital firm based in New York, NY. Bitburger Ventures GmbH is the corporate investment arm of Bitburger Holding GmbH and is based in Bitburg, Germany.

1/14/2020  Califia Farms LP announced that it has received $225.0 million in its Series D round of funding led by new investor Qatar Investment Authority with participation from Temasek Holdings (Private) Limited and other investors. Califia Farms operates as a natural beverage company and is based in Bakersfield, CA. Qatar Investment Authority is a sovereign wealth fund of the Government of Qatar based in Doha, Qatar. Temasek is a sovereign wealth fund of the Government of Singapore. Akin Gump Strauss Hauer & Feld LLP served as legal advisor to Califia Farms.

1/15/2020  Good Catch Foods announced that it has received over $32.0 million in its Series B round of funding from Stray Dog Capital, Rocana Venture Partners, and other investors. Good Catch Foods develops and manufactures vegan, plant-based food substitutes for seafood and is based in New York, NY. Stray Dog is a venture capital firm based in Leawood, KS. Rocana is a venture capital firm based in Los Angeles, CA.

1/19/2020  BlueNalu, Inc. announced that it has received a round of funding from Nutreco N.V. BlueNalu processes, manufactures and markets cell-based sea animals and seafood products and is based in San Diego, CA. Nutreco produces and sells a range of nutritional products for animals, fish, and shrimp and is based in Amersfoort, Netherlands.

2/4/2020  Little Spoon Inc. announced that it has received $10.0 million in a round of funding from three investors. Little Spoon manufactures and markets baby food, vitamins and probiotics products and is based in New York, NY.

2/19/2020  Hodo Foods announced that it has received its Series B round of funding from new investor Renewal2 Management Company. Hodo manufactures plant-based products, including noodles, nuggets, burgers, tofu, tofu cubes, soymilk and yuba and is based in Oakland, CA. Renewal2 is a private equity and venture capital firm based in Vancouver, Canada.

2/25/2020  Ellenos Real Greek Yogurt announced that it has received $18.0 million in a round of funding from Equilibra Partners Management LLC. Ellenos produces fresh Greek yogurt and is based in Federal Way, WA. Equilibra is a principal investment firm based in New York, NY.

2/26/2020  BlueNalu, Inc. announced that it has received $20.0 million in a round of funding from Stray Dog Capital, New Crop Capital, Clear Current Capital, CPT Capital and other investors. BlueNalu processes, manufactures and markets cell-based sea animals and seafood products and is based in San Diego, CA. Stray Dog is a venture capital firm based in Leawood, KS. New Crop is a venture capital firm based in New York, NY. Clear Current is a venture capital firm based in Vero Beach, FL. CPT is a venture capital firm based in London, United Kingdom.

2/27/2020  Van Leeuwen Ice Cream LLC announced that it has received $18.7 million in funding from NextWorld Evergreen, Blue Scorpion Investments, M3 Ventures, and other investors. Van Leeuwen produces ice cream, including vegan items, and is based in Brooklyn, NY. NextWorld is a private equity and venture capital firm based in San Francisco, CA. Blue Scorpion and M3 Ventures are venture capital firms based in New York, NY.

2/28/2020  Puris Proteins, LLC announced that it has received $25.0 million in funding from a single investor. The terms of the transaction were not disclosed. Puris Proteins produces pea protein, starches, fibers and other non-GMO ingredients from soy, pulses, lentils, corn and other plant sources and is based in Minneapolis, MN.

2/28/2020  Gathered Foods Corporation, dba Good Catch, announced that it has received $10.1 million in funding from House Foods Group - SBI Innovation Fund, a fund managed by SBI Investment Co., Ltd. Good Catch develops, manufactures and sells fish alternative products and is based in Heath, OH. SBI Investment, an investment arm of SBI Holdings, Inc., is a venture capital firm based in Tokyo, Japan.

3/3/2020  Powerful Foods, LLC announced that it has received $5.0 million in a round of funding from new investor MMG Consumer Brands. Powerful Foods produces all-natural, high-protein foods and beverages and is based in Miami, FL. MMG Consumer Brands is a growth equity investment firm based in Miami, FL.

3/5/2020  Outstanding Foods, Inc. announced that it has received a round of funding from new investor Snoop Dogg. Outstanding Foods produces vegan snacks and is based in Santa Monica, CA.

3/6/2020  Spindrift Beverage Co., Inc. announced that it has received $29.8 million in funding from 21 investors. Spindrift produces and supplies non-alcoholic beverages and is based in Newton, MA.

3/9/2020  Naturade, Inc. announced that it has received an equity round of funding from new individual investors Earvin Magic Johnson and Grant Hill. Naturade is a natural health products company based in Irvine, CA.

3/12/2020  CORE Foods announced that it has received $6.0 million in a round of funding from existing investors. CORE Foods manufactures and sells oat-based meal replacement bars and is based in Brooklyn, NY.

3/13/2020  Impossible Foods Inc. announced that it has received $500.0 million in a round of funding led by new investor Mirae Asset Global Investments Co., Ltd with participation from Khosla Ventures, Horizons Ventures Limited, and other investors. Impossible Foods develops and produces plant-based meats and cheeses and is based in Redwood City, CA. Mirae makes private equity and venture capital investments and is based in Seoul, South Korea. Khosla Ventures is a private equity and venture capital firm based in Menlo Park, CA. Horizons is a venture capital firm based in Central, Hong Kong.

3/18/2020  ByHeart, Inc. announced that it will receive $70.0 million in a round of funding from Polaris Partners, D1 Capital Partners L.P., OCV Partners, and other investors. The transaction closed on April 1st, 2020. ByHeart develops infant and baby nutritional food products and is based in New York, NY. Polaris is a venture capital firm based in Boston, MA. D1 is an employee-owned hedge fund manager based in New York, NY. OCV is a private equity and venture capital firm based in Los Angeles, CA.