News for November 8, 2024
Recent Transactions in the Nutrition and Health & Wellness Industry:
Innovative Food Holdings acquires Golden Organics for $1.75M
Innovative Food Holdings, Inc. (IVFH), a gourmet food distributor, has acquired Golden Organics, a Denver, Colorado-based organic food distributor, for $1.75 million. The transaction, comprising $1.4 million in cash and a $350,000 five-year seller’s note, includes Golden Organics’ inventory and physical assets. Founded in 1994 by David Rickard, Golden Organics serves more than 200 U.S. customers, primarily in Denver, including restaurants, manufacturers and retailers. With over 800 certified organic products, Golden Organics will broaden IVFH’s offerings and improve sourcing cost efficiencies by about 40% on certain overlapping items. Taeshaud Jackson, a Denver native with food distribution experience, will lead Golden Organics as president. IVFH aims to leverage Golden Organics’ customer base and product portfolio through cross-selling and integrating distribution channels, particularly for drop-shipping. Bi-directional synergies, enhanced by a unified Enterprise Resource Planning |
Keurig Dr Pepper acquires majority stake in Ghost Lifestyle
Keurig Dr Pepper (KDP) has entered into a $990 million agreement to acquire a 60% stake in Ghost Lifestyle, a fast-growing energy drink brand known for its unique flavors and strong youth appeal, with plans to buy the remaining 40% by 2028. Founded in 2016, Ghost has seen net sales quadruple over three years, positioning it as a leading brand in the energy Ghost will remain under the leadership of its co-founders, Dan Lourenco and Ryan Hughes, within KDP’s U.S. Refreshment Beverages segment. The acquisition, expected to close in late 2024 or early 2025, includes a $250 million commitment for distribution transitions to KDP’s network, aimed at expanding Ghost’s market reach. KDP projects the acquisition will positively |
Lyons Magnus acquires Hormel Health Labs to launch Lyons Health Labs
Lyons Magnus, a portfolio company of Paine Schwartz Partners, has acquired Hormel Health Labs from Hormel Foods Corporation, creating Lyons Health Labs, a new leader in nutrition and health products targeting conditions like dysphagia, unintended weight loss, digestive health and hydration. Lyons Health Labs will unify Hormel Health Labs’ offerings, including brands like ReadyCare®, THICK & EASY® and MightyShakes®, with Lyons Magnus’ nutrition line under a single banner, headquartered in Fresno, California. Jim Davis, CEO of Lyons Magnus, highlighted this acquisition as a strategic growth step to strengthen Lyons’ health and nutrition business. This new entity seeks to innovate and meet the dietary needs of foodservice operators and consumers. Lyons Health Labs will leverage the combined resources and expertise of both companies to expand its product offerings and reinforce its market presence in the health and nutrition sector. |
Steve Aoki invests in Neuro Gum, boosting functional gum brand’s expansion
Grammy-nominated DJ and entrepreneur Steve Aoki has invested in Neuro Gum, a brand offering gum and mints aimed at enhancing mental clarity and energy through natural ingredients. Known for his commitment to wellness and performance, Aoki cited a personal connection with Neuro Gum’s mission to support focus and mental clarity. Neuro Gum, co-founded by Kent Yoshimura, has gained popularity among athletes, entrepreneurs and health-conscious consumers. Aoki’s involvement aligns with his high-performance lifestyle and brings heightened visibility to Neuro Gum, which is expected to expand its market reach. Available online and in stores nationwide, Neuro Gum combines scientifically supported ingredients to help users achieve optimal cognitive states. This investment underscores Neuro Gum’s growing role in the |
Big Idea Ventures invests in six food start-ups focused on sustainability and nutrition
Big Idea Ventures has invested in six innovative food-tech start-ups through its Global Food Innovation Fund II (GFIF II), backed by food giants AAK and Bühler. This cohort includes Meatosys (Germany), enabling farm-based cultivated meat production; BiomeMega (Australia), producing sustainable omega fatty acids; Nalca Biotech (Chile), creating modular fermentation systems; Renew Food (UK), developing protein-based flavor ingredients; NanoInGreen (Argentina and Chile), offering high-absorption probiotic ingredients; and Future Biome (Argentina and Uruguay), targeting microbiome health with prebiotics. Andrew Ive, founder of Big Idea Ventures, highlighted these founders’ role in driving the next generation of sustainable food solutions. Henrietta Hearth, VP of Global Acceleration, emphasized the alignment with foodtech trends focused on nutrition and eco-friendly ingredients. These start-ups represent GFIF II’s commitment to enhancing food security and sustainability, expanding beyond proteins to novel fats, ingredients and microbiome-related solutions. |
Britain’s Maya Jama becomes co-owner, brand ambassador of Swedish pea milk brand Sproud
Maya Jama, a well-known British TV presenter and entrepreneur, has invested in Swedish pea milk brand Sproud, joining as both co-owner and brand ambassador. Known for her work with ITV’s Love Island and global campaigns, Jama will act as a strategic advisor for Sproud, aiming to increase its UK visibility and support its mission to normalize plant-based choices. Sproud, made from yellow split peas, is a high-protein, allergen-free alternative to traditional and oat-based milks. The brand |
MeliBio secures strategic investment from Japan’s Future Food Fund to scale vegan honey production
San Francisco, California-based food tech startup MeliBio has received a strategic investment from Future Food Fund, a Japanese investor, as part of a pre-Series A round to expand the reach of its precision-fermented vegan honey, Mellody. Since its founding in 2020, MeliBio has raised about $10 million, supporting its efforts to distribute Mellody nationwide and in Europe through partnerships, including with Slovenia’s Narayan Foods and UK retailers like Aldi. Co-founder and CEO Darko Mandich highlighted the company’s mission to reduce reliance on traditional honey production, which affects biodiversity by disrupting wild bee populations. MeliBio’s technology uses precision fermentation to produce bioidentical honey molecules, a sustainable alternative aiming to reduce the ecological impact of honey demand. Recent |
Best Day Brewing secures $22.5M to expand non-alcoholic craft beer offerings
| Best Day Brewing, a non-alcoholic craft beer company founded in 2022 by CEO Tate Huffard, has raised $22.5 million in total funding in 2024 from new partners and existing investors. This investment aims to enhance consumer awareness, broaden the company’s audience and support retail distribution. Huffard noted a shift in drinking behaviors, with consumers seeking quality beer options without alcohol. Best Day Brewing’s product lineup includes a pilsner, West Coast IPA, Hazy IPA, Kölsch and Electro-Lime, catering to mindful drinkers and those exploring non-alcoholic alternatives. |
Drumroll, plant-based donut brand, secures $3 million from 7 Mile Brands for expansion
Drumroll, a Fairfield, New Jersey, plant-based donut company, has raised $3 million in investment from consumer goods incubator 7 Mile Brands. Co-founded by Hassan Safieddine and Ryan Brothers, Drumroll produces baked, low-sugar, high-protein donuts available in vanilla, chocolate and strawberry flavors. The investment brings 7 Mile Brands founders Jason Cohen and Sammy Kestenbaum onto Drumroll’s board to leverage their expertise in scaling brands to expand Drumroll’s reach. Ryan Brothers expressed confidence in Drumroll’s growth potential with 7 Mile’s support, focusing on health-conscious snackers. Cohen highlighted Drumroll’s appeal to consumers seeking mindful indulgence, noting the brand’s alignment with trends in refrigerated snacks |
Mike Tyson invests in plant-based fast food chain Mr. Charlie’s to support U.S. and global franchise expansion
Former boxing champion Mike Tyson has invested in Mr. Charlie’s, a plant-based fast-food chain, through his holding company, Carma HoldCo. This partnership seeks to accelerate Mr. Charlie’s expansion across the U.S. and internationally. Known for its vegan menu and social mission of hiring individuals from disadvantaged backgrounds, Mr. Charlie’s resonates with Tyson’s advocacy of veganism and second chances. Co-founders Taylor McKinnon and Aaron Haxton see Carma HoldCo’s experience with disruptive brands, like Tyson’s cannabis venture TYSON 2.0, as essential to expanding Mr. Charlie’s reach. With franchise locations already in Los Angeles, San Francisco and Sydney, the company plans to add more franchises using data-driven location selection via platforms like Uber Eats and Postmates. |
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.
Upcoming Events
October 29, 2024 | Mandalay Bay Convention Center | Las Vegas, NV
November 6 – 7, 2024 | Golden Gate Club at the Presidio | San Francisco, CA
