Gryphon makes two acquisitions in nuts and trail mix
Gryphon Investors (San Francisco) has made two acquisitions in the healthy snack sector, simultaneously purchasing Ann's House of Nuts, Inc. (Columbia, Md.) and American Importing Company, Inc. (Minneapolis). Terms were not disclosed. Ann’s House of Nuts, a manufacturer of private label and branded snack nut and trail mix products, was purchased from Olympus Partners, which has owned it since 2008. It is the leading privately held trail mix and nut company in the United States, according to the company’s website.  Amport was founded in 1962 and provides private label and branded snack foods, including dried fruits, nuts and trail mixes. “Gryphon has proactively targeted the healthy snack sector for nearly two years due to its attractive fundamentals, and we are excited to have found a strategic entry point through these two leading companies," said Nick Orum, president of Gryphon Investors. "This industry segment has proven resilient through the downturn and shows promise of sustainable growth as consumers' interest in a healthy lifestyle continues." The companies will serve as a platform for further acquisitions in the fragmented healthy snacks sector, Gryphon stated. According to Mintel data cited by Gryphon, the nuts and dried fruit market grew from $4.1 billion in 2004 to $5 billion in 2008.

Recipe website Yummly raises $1.85 million
Yummly Inc. (Palo Alto, Calif.), an online recipe search and recommendation platform, has raised $1.85 million in Series Seed funding from Harrison Metal Capital, Intel Capital, First Round Capital and angel investors. The company also announced that Michael Dearing of Harrison Metal Capital and angel investor Marcia Hooper would join its board of directors. Founded in 2009, Yummly set out to invent a better way to find, modify, share and store recipes. It is the world's first semantic recipe search and recommendation platform that enables individuals to find and customize recipes based on personal taste and nutritional and dietary preferences. Yummly plans to apply the capital to developing features, hiring new talent and other infrastructure investments.

Bradmer completes follow-on in Blue Horizon
Bradmer Foods (Baltimore), a venture capital firm focused on food and beverages, announced a follow-on investment in the seafood company Blue Horizon Wild (Aptos, Calif.), a supplier of healthy and responsibly sourced seafood products. Its branded product line includes lobster macaroni and cheese, crab cakes, and fish sticks. Blue Horizon became Bradmer fund’s fifth portfolio company last fall, joining Adina For Life, Organic To Go, Sambazon and Charles Chocolates. Michael Rice, co-founder and managing partner for the past 26 years of the marketing agency Sterling-Rice Group (Denver), was appointed CEO of Blue Horizon Wild. Sterling-Rice has worked closely with leading natural food brands including Coleman Natural Beef, Earth's Best Baby Food, Celestial Seasonings, Cascadian Farms and Horizon Organics. John Battendieri, the founder of Blue Horizon Wild, also started Santa Cruz Organic and is a 30-year veteran of the natural foods industry.

Tsing Capital invests $10 million in Tony’s Farm
Organic agricultural company Tony's Farm (Shanghai Tony Agriculture Development Co., Ltd.) has secured $10 million investment from Tsing Capital, according to Chinaventure.com, which reported that the equity transfer agreement was signed at the China Europe International Business School. As the largest organic farm produce supplier that integrates R&D, growing, production, processing, distribution, sales and after-sales services in Shanghai, Tony's Farm provides corporate customers and individual members with direct supply services of customized order and home delivery, the article said. In addition to external cooperative bases in Sichuan and Yunnan, Tony's Farm will also expand the low carbon agricultural base in Chongming and the 10,000Mu organic agriculture base in Wuyi Mountain, Fujian.

UAS Labs acquires APN Labs
UAS Laboratories, Inc. (Eden Prairie, Minn.) has acquired all outstanding shares of APN Labs, Inc. (Wausau, Wis.) to become the sole owner. APN Labs is a contract manufacturer of premium nutraceuticals, including its own condition-specific probiotic blends. It has been operating in the United States for the past 10 years and earlier this month received GMP certification from NSF International. UAS Laboratories, which was established in 1979, specializes in probiotics for human health, manufacturing products containing the proprietary strain Lactobacillus acidophilus DDS, a probiotic with more than 200 university and clinical studies behind it, according to the company. “With the acquisition of APN Labs, we are now in a great position to provide a complete range of probiotics and other specialty nutritional supplements including our branded products as well as customer private label products,” said Dr. S.K. Dash, president of UAS Laboratories.

Lion Capital to acquire Bumble Bee Foods
Funds advised by Lion Capital LLP (London) will acquire Bumble Bee Foods (San Diego), a portfolio company of Centre Partners Management LLC (New York). Bumble Bee is a leading North American supplier of shelf-stable seafood under the Bumble Bee, Clover Leaf, Brunswick, Snow's, Beach Cliff, King Oscar and Sweet Sue brands. According to Bloomberg, Lion Capital will use debt financing from lenders led by JPMorgan Chase & Co. to pay for the $980 million leveraged buyout. Wells Fargo, Barclays and Jefferies Group Inc. also reportedly agreed to help raise money for the transaction. Founded in 1897, Bumble Bee generated over $940 million of net revenue in 2009. Lyndon Lea, a partner of Lion Capital, said: “We are excited about the opportunity to acquire one of North America's best-known consumer packaged goods companies and a portfolio of brands that enjoy unrivalled positions with U.S. and Canadian consumers…. The company has achieved an attractive record of consistent revenue growth and superior operating margins, even through economic downturns.” Lion Capital includes among its investments Weetabix (breakfast cereal), Kettle Foods (salty snacks), Findus (frozen food), and the Schweppes and Orangina brands.

Levine Leichtman acquires Santa Cruz Nutritionals
Levine Leichtman Capital Partners (LLCP, Los Angeles) has partnered with management to acquire Santa Cruz Nutritionals (Santa Cruz, Calif.), a manufacturer of gummy-based nutritional products and dietary supplements. The company says it has developed proprietary formulations and a manufacturing process that deliver active ingredients through its chewable products. Michael Westhusing, the CEO of Santa Cruz Nutritionals, and other members of the senior management team will make a significant investment in the company. SCN is the seventh investment from Levine Leichtman Capital Partners, IV, L.P., a $1.1 billion private equity fund. Prior investments by Levine Leichtman include CiCi's Pizza, Hackney Ladish, Jon Douglas Real Estate Group, Overhill Farms and Quizno's.

GrubHub closes $11 million Series C funding
GrubHub, a web and mobile service that organizes restaurant data for consumers and simplifies online ordering for delivery and takeout, has closed $11 million in Series C funding led by Benchmark Capital. The series C funding will allow GrubHub to enhance its online and mobile solutions and to expand marketing and sales efforts. The company has raised $14.1 million to date. GrubHub has a base of 13,000 restaurants and expects to send more than $70 million in food orders to its businesses by the end of this year. GrubHub secured Series A funding in 2007 through Amicus Capital, Origin Ventures and several angel investors. In 2009 it secured $2 million in Series B funding in a deal co-led by Origin Ventures and Leo Capital, with Amicus Capital participating. Benchmark Capital is associated with Internet consumer brands such as OpenTable, Yelp, Zillow, Twitter and eBay.

Heinz completes acquisition of soy and tofu company Foodstar
H.J. Heinz Company has completed its acquisition of Foodstar, a leading manufacturer of premium branded soy sauces and fermented bean curd in China, from Transpac Industrial Holdings Ltd. and various Transpac Funds. The purchase price consists of a cash payment of $165 million and a potential earn-out payment in 2014 based on performance. Commenting on the transaction, Heinz Chairman, President and CEO William R. Johnson said: “The acquisition of Foodstar gives Heinz a solid growth platform in China’s rapidly expanding $2 billion plus retail soy sauce market. It also accelerates our growth in China, a key Emerging Market where Heinz is already well positioned with our growing infant nutrition business and Long Fong, a leading brand of frozen dim sum.” Through the acquisition, Heinz gains a share of a retail soy sauce market in China that is growing at 7-8% a year. Heinz expects the acquisition to boost its annual sales in China to about $300 million in the first full year.

Unilever completes acquisition of Sara Lee brands
The European Commission has approved the sale of Sara Lee's global Body Care and European detergents businesses to Unilever. As part of the ruling, Unilever is required to divest the Sanex brand in the European market after it acquires the business from Sara Lee. This requirement resulted in an adjustment in the purchase price from €1.275 billion to €1.210 billion. The deal is anticipated to close in December 2010. The transaction was originally announced in September 2009. The global Body Care and European detergents businesses encompass a wide variety of brands, including Sanex, Radox and Duschdas. Unilever said the Sara Lee brands generated annual sales in excess of €750 million with an EBITDA of €128 million for the year ending June 2009. The transaction is a part of Sara Lee's ongoing process of divesting its international household and body care business.