Recent transactions in the nutrition and health & wellness industry

 

Campbell to sell Bolthouse Farms for $510 million

Campbell Soup Company (Camden, New Jersey) is selling Bolthouse Farms to an affiliate of Butterfly Equity for $510 million. Acquired by Campbell in August 2012, Bolthouse Farms produces organic beverages, dressings and carrots. Upon completion, Campbell will have divested its entire Campbell Fresh division,
having agreed in February to sell its Garden Fresh Gourmet business to Fountain of Health USA, maker of hummus, dips and prepared salads. In fiscal year 2018, Campbell Fresh recorded net sales of $970 million. Campbell outlined divestiture plans for Campbell Fresh and Campbell International in August 2018. 

 

EverlyWell raises $50 million for test kit platform

EverlyWell (Austin, Texas), a digital health company, announced $50 million in financing led by Goodwater Capital with Highland Capital Partners joining. EverlyWell offers 35 lab tests starting at $49, including tests for food sensitivity, fertility, cholesterol, STDs and thyroid. EverlyWell will use funding to expand its digital platform and scale partnerships with companies like CVS and Humana. The company's mission is to help consumers take control of their health.

 

Kindbody raises $15 million to reinvent women’s health care

Fast-growing women's health care start-up, Kindbody (New York, New York), has secured $15 million in Series A financing, bringing its raised total to $22 million. The “femtech” company says it is reinventing women's health care through brick-and-mortar and mobile clinics, starting with fertility care and expanding into mental health, nutrition and gynecological services. The round was co-led by RRE Ventures and Perceptive Advisors. 

 

Beyond Meat raises IPO expectations

Beyond Meat Inc. (El Segundo, California), maker of plant-based burgers, is planning to generate as much as $183.8 million from an initial public offering. This is higher than the original offering size of $100 million filed with the U.S. Securities and Exchange Commission in November 2018. The IPO share price range
of between $19 and $21 would peg the company at a market value of $1.21 billion at the high end. In 2018, Beyond Meat had a net loss of $29.9 million on net revenue of $87.9 million. Net revenue was $16.2 million in 2016. According to Bloomberg, Tyson Foods Inc. has sold its 6.5 percent stake in Beyond Meat ahead of the IPO and plans to launch its own alternative protein product.

 

Mondelēz makes minority investment in Hu snacks

Mondelēz International (Deerfield, Illinois) announced a minority investment in Hu Master Holdings (New York, New York), parent company of both Hu Kitchen and the Hu brand of vegan and paleo snacks. This is Mondelēz’s second investment as part of its SnackFutures innovation and venture hub. Hu products include vegan, soy-free and sugar-free chocolate, in addition to grain-free crackers. Mondelez said the investment matches two of SnackFutures’ high-growth strategic priorities: well-being and premium.

 

Unilever to acquire OLLY Nutrition

Unilever (Englewood Cliffs, New Jersey) is acquiring OLLY Nutrition (San Francisco, California), a brand of gummy supplements, protein powders and snack bars. OLLY Nutrition was co-founded in 2014 by Eric Ryan, who previously co-founded Method, a home and personal care products company. Established as a B Corp, OLLY Nutrition’s mission is to make good nutrition easy. OLLY will remain in San Francisco; Ryan will assume the role of chief growth officer while Gerry Chesser, COO of OLLY, will become CEO.

 

North Castle invests in Maya Kaimal Indian foods

North Castle Partners has made an investment in Maya Kaimal Foods LLC (Rhinebeck, New York), named for founder and cookbook author Maya Kaimal. The company makes Indian-inspired ethnic foods, including shelf-stable sauces, condiments and ready-to-eat dals and rice, in addition to its original line of fresh sauces. Products are sold nationwide through retailers including Whole Foods Market, Safeway/Albertsons, Target and Costco.

 

New funds focus on health, sustainability and agritech

Private equity firm North Castle Partners announced the close of North Castle Partners VII, L.P. at $400 million. The oversubscribed fund was raised in less than five months. North Castle focuses on healthy, active and sustainable living. 

 

Cultivian Sandbox Ventures closed its third venture capital fund, Cultivian Sandbox Food & Agriculture Fund III

The $135 million fund invests in food and agricultural technology companies that address global megatrends, including demand for protein, food safety, traceability, nutrition and resource efficiency.

Disclaimer: NCN does not warrant the accuracy, reliability, or timeliness of any NCN news item. Before relying on any NCN News item the information should be independently verified.

 

NCN Events:

NCN/NPC III Investor Meeting

Sept. 18-19

Berkeley Church, Toronto, Ontario, Canada

The third annual Nutrition Capital Network–Natural Products Canada Investor Meeting 2019 will showcase Canadian products and companies. A half-day conference on market, investment and new product trends with an evening networking event is scheduled for Sept. 18. The following day, 20 innovative companies in natural product and nutrition science will present their business plans.

https://www.nutritioncapital.com/en/Investor-meeting/NCN-Canada.html

 

NCN XXV Fall Investor Meeting

Nov. 13-14

Golden Gate Club at the Presidio, San Francisco, California

Investors and strategic CPGs will hear business plan presentations from 20 to 25 nutrition and health and wellness companies seeking capital. Presenters represent categories in natural and organic foods, functional foods, supplements, ingredients and technology, personal care and household goods, and
related technology solutions.

https://www.nutritioncapital.com/en/Investor-meeting/NCN-Fall-Investor-Meeting.html    

 

NCN Ingredients & Technology XI

at SupplySide West

Oct. 16

South Seas Ballroom E, Mandalay Bay, Las Vegas, Nevada

Companies and investors looking for the best innovations in nutrition science and technology are invited to register for the 10th annual meeting held at
SupplySide West.

https://www.nutritioncapital.com/en/Investor-meeting/NCN-Investor-Meeting-at-SupplySide-West.html

##