NCN News for October 29, 2019
October 29, 2019
Flowhub (Denver, Colorado), a retail management platform for cannabis dispensaries, has raised an oversubscribed $23 million Series A financing led by the Kraft Heinz investment arm Evolv Ventures, e.ventures and Poseidon. Described as one of the largest Series A rounds in the cannabis tech industry, the investment will be used to position Flowhub as the software model of choice for cannabis retailers.
NCN News for October 13, 2019
October 13, 2019
Post Holdings’ (St. Louis, Missouri) newly formed subsidiary BellRing Brands Inc. has launched a roadshow for its initial public offering of approximately 24 percent of its ownership. The IPO is expected to generate up to $570 million. BellRing will compete in the “global convenient nutrition category” and is a holding company for Post’s Active Nutrition business, notably the Premier Protein, Dymatize and PowerBar brands.
DEAL DOWNLOAD: September 2019
October 1, 2019
Organic ingredients and other nutritional attributes were the focus of investment and acquisitions in the baby food category in September. Chinese dairy giant Mengniu Dairy made a AU$1.5 billion (US$1 billion) cash offer for the Australian infant formula brand Bellamy’s Organic.
NCN News for September 24, 2019
September 24, 2019
Celsius Holdings Inc. (Boca Raton, Florida), maker of the Celsius fitness drink, is acquiring nutritional products marketer Func Food Group Oyj (Helsinki, Finland) for approximately $15.1 million in cash and the assumption of $9.5 million of debt.
NCN News for September 10, 2019
September 10, 2019
Nestlé Health Science (NHSc, Lausanne, Switzerland) is expanding into personalized nutrition by acquiring Persona (Snoqualmie, Washington), a company that offers customized nutritional assessments and dietary supplements online.
DEAL DOWNLOAD: August 2019
September 3, 2019
Healthier snacking remained a strong investment theme in August. High protein nutrition bars were the focus, with The Simply Good Foods Company bringing Quest Nutrition LLC under its umbrella for $1 billion in cash. Quest becomes stable mate to the iconic Atkins brand and is expected to generate about $345 million in net sales in calendar year 2019, 68 percent from bars.
NCN News for August 13, 2019
August 13, 2019
Cannabis products company Dixie Brands Inc. (Denver, Colorado) and iced tea brand Arizona Beverages (Woodbury, New York) are partnering to develop cannabis-infused products with tetrahydrocannabinol (THC).
DEAL DOWNLOAD: July 2019
August 8, 2019
U.S. shoppers are making more room in their baskets for plant-based foods, according to new SPINS retail data released by the Plant Based Foods Association and The Good Food Institute. Sales of plant-based foods that directly replace animal products grew 11% to $4.5 billion in natural and conventional grocery channels in the year to April 21, 2019; since April 2017, sales have increased 31%.
NCN News for July 23, 2019
July 23, 2019
AeroFarms (Newark, New Jersey) has raised a $100 million Series E led by the venture capital arm of Ingka Group, parent company of Ikea, according to Financial Times. The automated indoor farm will use the investment to expand warehouse space and grow more types of produce.
NCN News for July 9, 2019
July 9, 2019
Gathered Foods, maker of the Good Catch (Newtown, Pennsylvania) brand of plant-based seafood products, has closed a $10 million convertible note round co-led by New Crop Capital and Stray Dog Capital, according to Forbes. Good Catch previously announced an $8.7 million Series A funding round in August 2018 led by New Crop Capital.
DEAL DOWNLOAD: June 2019
July 3, 2019
As public awareness of plastic pollution gathers steam and big brands commit to reducing plastic waste, investors are backing more ecologically sensitive packaging solutions like bioplastics and molded pulp.
NCN News for June, 26 2019
June 26, 2019
Mondelēz International (Deerfield, Illinois), owner of Oreo, Belvita and Cadbury, is acquiring a majority interest in Perfect Snacks (San Diego, California), maker of refrigerated organic nutrition bars.
DEAL DOWNLOAD: MAY 2019
June 4, 2019
On the heels of Beyond Meat’s soaring IPO, which raised $241 million to expand its meat-alternative business, Impossible Foods followed with a $300 million Series E round to ramp up production. Temasek and Horizons Ventures led the financing, bringing the company’s total raised to $750 million.
NCN News for May 26, 2019
May 26, 2019
Impossible Foods (Redwood City, California), maker of plant-based meat alternatives, announced $300 million in Series E funding led by existing investors Temasek and Horizons Ventures.
NCN News for May 14, 2019
May 14, 2019
Sprizzi Drink-Co. (Colton, California), maker of an eco-friendly beverage dispenser, announced a $100 million investment initiative by the government of Rugao, China.
Deal Download: April 2019
May 8, 2019
The NCN Transaction Database tracked half the number of dietary supplement acquisitions in 2018 compared to the prior year.
NCN News for April 30, 2019
April 30, 2019
Campbell Soup Company (Camden, New Jersey) is selling Bolthouse Farms to an affiliate of Butterfly Equity for $510 million.
NCN News for April 17, 2019
April 17, 2019
Danone SA (Paris, France) is selling Earthbound Farm, its U.S. organic salads business, to family-owned Taylor Farms (Salinas, California), a salads and fresh foods company.
Deal Download: March 2019
April 4, 2019
Mondelēz made its first venture investment under its SnackFutures innovation and venture hub in March. The global snack and candy giant—owner of Oreo, Triscuit and Trident—made a minority investment in Uplift Food, a functional food start-up focused on the “mood-supportive benefits” of prebiotics.
NCN Press Release on 2018 Transaction Database Report
Each year Nutrition Capital Network tracks and compiles M&A activity in the health & nutrition arena. Read more about how 2018 compared to years past and where the financing activity took place.
NCN News for March 26, 2019
March 26, 2019
DSM and Phynova collaborate on blood glucose ingredient
DSM (Heerlen, Netherlands) and life science company Phynova (Oxford, United Kingdom) have signed a global distribution and collaboration agreement for Reducose, a patented natural ingredient for healthy blood glucose levels. Reducose is a water extract of
white mulberry leaves that can be added to food and beverages or taken as a small supplement to reduce the impact on the body of high-glycemic sugars and other carbohydrates.
NCN News for March 12, 2019
March 12, 2019
Moringa company gets second investment from Kellogg
Kuli Kuli (Oakland, California), a pioneer of the superfood moringa, has closed a $5 million Series B financing led by global product development company Griffith Foods and Eighteen94 capital, Kellogg’s venture capital fund. Other investors included InvestEco, S2G Ventures, Authentic Ventures, VilCap Investments and Rocana Venture Partners. Kuli Kuli plans to launch a new moringa ingredient business while scaling up its moringa powder, bars and shots business.
Deal Download: February 2019
March 8, 2019
This month's Nutrition Capital Network Deal Download shows a high number of transactions in pet food, alternative proteins and healthy foods.
NCN presenter update February was a big month for past NCN Presenting Companies, headlined by Manitoba Harvest being acquired by cannabis company Tilray Inc. from The Compass Group and other shareholders for up to CA$419 million (US$316.3 million on Feb. 20). Vertically integrated Manitoba Harvest sells hemp seeds, oil, granola, protein powder, and milk alternatives, generating CA$94 million (US$68.9 million on Jan. 2) in gross revenue in 2018.
NCN News for February 26, 2019
February 26, 2019
Hormel Foods (Austin, Minnesota) is selling its CytoSport business, including Muscle Milk protein drinks, to PepsiCo for $465 million in cash. Hormel acquired CytoSport Holdings in 2014 from the Pickett family and TSG Consumer Partners for approximately $450 million to expand Hormel’s portfolio of protein-rich foods and serve as a growth catalyst for its Specialty Foods segment; CytoSport had annual sales of around $370 million at the time.
NCN News for February 12, 2019
February 12, 2019
Unilever (London, United Kingdom and Rotterdam, Netherlands) has acquired Graze (London, United Kingdom), the United Kingdom’s largest healthy snack brand, from The Carlyle Group. The purchase price was not disclosed, but Sky News reported Graze was acquired for £150 million ($195.9 million on Feb. 5). Graze was founded in 2008 as a snack-box delivery service and sells bars, packaged nuts and seeds, dips and other snacks at retail and online.
Deal Download: January 2019
February 8, 2019
Nutrition Capital Network reports 942 transactions in 2018
The NCN Transaction Database recorded a total of 942 transactions in the Nutrition and Health & Wellness Industry in 2018, up 3 percent for the year as deals slowed from blistering pace of the past four years. “Given the steep annual growth rates that averaged almost 40 percent annually from 2014 to 2017, it’s hardly surprising that the industry has not sustained that velocity,” said Grant Ferrier, managing director of Nutrition Capital Network (NCN). “But it’s still impressive that 2018 exceeded 2017’s record numbers.”
NCN News for January 29, 2019
January 29, 2019
Laird Superfood (Sisters, Oregon) has secured $32 million in a private funding round that included WeWork, the shared workspace company. This round will support product development, acquisitions and headquarters expansion. Laird Superfood and WeWork will also launch a partnership to make Laird foods available to WeWork members and employees.
Deal Download: December 2018
January 8, 2019
In December, Tivity Health Inc., a provider of fitness and health improvement programs and owner of the SilverSneakers brand, announced it was buying Nutrisystem Inc. for $1.3 billion in cash and stock. Nutrisystem sells portion-controlled meals and weight loss services, and owns the South Beach Diet and DNA BodyBlueprint brands.
NCN News for December 20, 2018
December 20, 2018
Tivity Health Inc. (Nashville, Tennessee), a provider of health and fitness programs, is buying Nutrisystem Inc. (Fort Washington, Pennsylvania) for $1.3 billion in cash and stock. Tivity Health generated revenue of $453.3 million for the nine months ending Sept. 30, from
programs including SilverSneakers, Prime Fitness, WholeHealth Living and flip50. Nutrisystem owns Nutrisystem weight loss products and services, the South Beach Diet and DNA BodyBlueprint, generating revenue of $561.5 million for the nine-month period.
NCN News for December 11, 2018
December 11, 2018
The Kraft Heinz Company (Pittsburgh, Pennsylvania) is acquiring Primal Nutrition LLC (Oxnard, California), maker of Primal Kitchen branded products, for approximately $200 million. Expected to generate approximately $50 million in net sales this year, Primal Kitchen is a better-for-you brand of condiments,sauces, dressings and avocado oil, as well as protein powders and snack bars.
Deal Download: November 2018
November 30, 2018
It’s been a busy year for initial public offerings, with global markets expected to number more than 200 in 2018 driven by biotech, tech and Chinese offerings, according to IPO expert Renaissance Capital. Outside of medicinal cannabis and internet food delivery, few companies associated with the nutrition and health & wellness industry have gone public this year, so November was unusual in seeing two IPO announcements added to the NCN Transaction Database.
NCN News for November 26, 2018
November 26, 2018
Post Holdings Inc. (St. Louis, Missouri) has announced an initial public offering to establish its Active Nutrition division as a “pure-play, high growth companywith strategic flexibility to pursue strong organic and M&A opportunities.” Active nutrition houses ready-to-drink protein beverages, protein powders, nutrition bars and nutritional supplements under the Premier Protein, Dymatize, PowerBar, Supreme Protein and Joint Juice brands.
Deal Download: October 2018
October 31, 2018
Glanbia PLC is buying SlimFast and certain supplement brands from Kainos Capital for $350 million, adding the iconic weight-loss brand to its Performance Nutrition division, which houses Optimum Nutrition, BSN, Isopure, Amazing Grass and the weight-loss snack thinkThin.
NCN News for November 13, 2018
November 13, 2018
Publicly traded Flowers Foods Inc. (Thomasville, Georgia) is acquiring Canyon Bakehouse LLC (Johnstown, Colorado), a gluten-free baking company, forapproximately $205 million. Canyon Bakehouse offers 21 gluten-free breads, buns, bagels, English muffins and specialty items, and is expected to generate sales of approximately $70 million to $80 million in 2019.
NCN News for October 30, 2018
October 30, 2018
Kite Hill (Hayward, California), a maker of dairy alternatives made with nut milk, announced a $40 million capital round led by 301 INC, General Mills’ venture unit, with CAVU Venture Partners participating.
NCN News for October 16, 2018
October 16, 2018
Glanbia PLC (Kilkenny, Ireland) is buying SlimFast (Palm Beach Gardens, Florida) and certain supplement brands for $350 million from Kainos Capital...
Deal Download: September 2018
September 30, 2018
Functional water, kombucha and coffee populated the beverage deals tracked by Nutrition Capital Network’s (NCN) Transaction Database in September. Keurig Dr Pepper agreed to acquire allied brand partner Core Nutrition LLC for $525 million...
NCN News for September 25, 2018
September 25, 2018
The Coca-Cola Company (Atlanta, Georgia.) has acquired Organic & Raw Trading Co. (Willunga, South Australia), maker of the Mojo brand of naturally fermented organic kombucha drinks...
NCN News for August 31, 2018
August 31, 2018
According to the NCN Transaction Database, beverages dominated the top 10 financing transactions in the Branded Food & Beverage segment during the first half of 2018…
NCN News for August 26, 2018
August 26, 2018
Recent transactions in the nutrition and health & wellness industry…
NCN News for August 14, 2018
August 14, 2018
Recent transactions in the nutrition and health & wellness industry…
Deal Download: July 2018
July 31, 2018
Recent transactions in the nutrition and health & wellness industry Natural ingredient deals As the global colors, flavors and fragrances industry responds to consumer demand for natural…
NCN News for July 24, 2018
July 24, 2018
Recent transactions in the nutrition and health & wellness industry Sensient Technologies acquires Mazza Innovation’s botanical extract technology Sensient Technologies (Milwaukee, Wisconsin) has acquired Mazza Innovation Ltd.…
NCN News for July 10, 2018
July 10, 2018
Recent transactions in the global nutrition and health & wellness industry ADM acquires probiotics brand and contract manufacturer Archer Daniels Midland Company (ADM, Chicago, Illinois) is…
Deal Download: June 2018
July 3, 2018
Recent transactions in the nutrition and health & wellness industry Corporate venture deals About half of the top 50 global food and beverage companies have set up...
NCN News for June 26, 2018
June 12, 2018
Recent transactions in the nutrition and health & wellness industry Owner of Vita Coco acquires RUNA natural energy drinks All Market Inc. (AMI, Framingham, Massachusetts), the maker…
NCN News for June 12, 2018
June 12, 2018
Recent transactions in the nutrition and health & wellness industry Clearly Kombucha acquired by Molson Coors Molson Coors (Denver, Colorado) has acquired Clearly Kombucha (Fairfield, California),…
Deal Download: May 2018
June 5, 2018
Ingredient deals Global players in the flavors and fragrances industry are trying to adapt as food and beverage clients demand more organic, natural and functional products to…
NCN News for May 22, 2018
May 22, 2018
Recent transactions in the nutrition and health & wellness industry Good Eggs secures $50 million for California expansion Good Eggs (San Francisco, California), the online grocer and…
NCN News for May 9, 2018
May 9, 2018
Recent transactions in the global nutrition and health & wellness industry Frutarom acquisition will boost IFF’s standing in natural ingredients After making 39 acquisitions in the…
Deal Download: April 2018
April 30, 2018
Natural pet food deals In the wake of General Mills’ acquisition of Blue Buffalo Pet Products for about $8 billion in February, The J.M. Smucker Company announced…
NCN News for April 24, 2018
April 24, 2018
Recent Transactions in the Nutrition and Health & Wellness Industry P&G to acquire Merck consumer-health business, including European supplement brands The Procter & Gamble Company (P&G, Cincinnati,…
NCN News for April 10, 2018
April 10, 2018
Recent Transactions in the Nutrition and Health & Wellness Industry Campbell creates accelerator unit to drive growth, including Campbell Fresh Campbell Soup Company (Camden, New Jersey) announced…
Commentary: Nutranext brings Clorox more than supplements
April 3, 2018
Over the last year, large strategic and financial investors have invested richly in the dietary supplement industry. Private equity giant KKR acquired The Nature’s Bounty Co. in…
Deal Download: March 2018
April 3, 2018
Some of the best-known brands in the natural retail channel changed hands last year with the acquisitions of The Nature’s Bounty Co. by KKR, Nutraceutical International by…
NCN News for March 27, 2018
March 27, 2018
Recent Transactions in the Nutrition and Health & Wellness Industry Spindrift sparkling water completes $20 million funding Spindrift (Newton, Massachusetts), a sparkling water flavored with real…
NCN News for March 13, 2018
March 13, 2018
Clorox announces agreement to acquire supplement company Nutranext The Clorox Company (Oakland, California) will acquire Nutranext (Sunrise, Florida), a vertically integrated manufacturer and marketer of dietary supplement…
Deal Download: January 2018
January 29, 2018
The nutrition and health and wellness industry saw a 27 percent increase in transaction activity in 2017, with the number of mergers and acquisitions up 37 percent…
NCN News for January 26, 2018
January 26, 2018
Cargill invests in PURIS pea protein production Cargill (Minneapolis, Minn.) has signed a joint venture agreement with Minneapolis-based PURIS (formerly World Food Processing), a family owned company…
NCN News for January 16, 2018
January 16, 2018
Enterome secures €32 million Series D financing and EIB loan Enterome SA (Paris, France and Cambridge, Mass.), a clinical-stage biotech company pioneering therapies to treat microbiome-associated diseases,…