CWC Q1 2019 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 Capital 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

 

1/30/2019  Adaptive Health, LLC acquired Biovation Labs, LLC. The terms of the transaction were not disclosed. Biovation Labs manufactures and distributes supplements and is based in Salt Lake City, UT. Adaptive Health manufactures and distributes science-based nutritional health supplements and products and is based in Charlotte, NC.

 

2/1/2019  Lallemand Inc. acquired Scott Laboratories. The terms of the transaction were not disclosed. Scott Laboratories manufactures and supplies fermentation and filtration media products and is based in Petaluma, CA. Lallemand researches, develops, produces, and markets yeasts, bacteria, and related products and is based in Montreal, Canada.

 

2/5/2019  Unilever PLC (LSE:ULVR) acquired Nature Delivered Ltd., dba graze.com. The terms of the transaction were not disclosed. Graze manufactures and markets healthy snacks and is based in Richmond, United Kingdom. Unilever is a global supplier of consumer goods and is based in London, United Kingdom. DLA Piper served as legal advisor to Unilever.

 

2/7/2019  Tierra Farm, Inc. acquired Power of 3 Nutrition, LLC. The terms of the transaction were not disclosed. Power of 3 Nutrition produces and sells seed blend products and is based in Tenants Harbor, ME. Tierra Farm produces and distributes nuts and dried fruits and is based in Valatie, NY.

 

2/20/2019  Glanbia Nutritionals, Inc. acquired Watson Foods Co., Inc. for $89.0 million. Watson Foods produces and supplies human health and nutrition products and ingredient systems for the food and supplement industries and is based in West Haven, CT. Glanbia Nutritionals provides nutritional and functional ingredient solutions and is based in Evanston, IL.

 

2/20/2019  Lipari Foods, LLC acquired Troyer Cheese, Inc., Troyer Bros. Trucking, Ltd. and Amish Wedding Foods, Inc. The terms of the transaction were not disclosed. Troyer Cheese, Troyer Bros., and Amish Wedding Foods manufacture and distribute specialty food products and are based in Millersburg, OH. Lipari is a distributor of perimeter-of-the-store, specialty, and branded food products and is based in Warren, MI.

 

3/18/2019  The Lubrizol Corporation acquired Laboratoire Phenobio SAS. The terms of the transaction were not disclosed. Laboratoire Phenobio researches, develops, and markets plant extracts and active compounds for the dermocosmetics, food supplement, and health and nutrition fields and is based in Martillac, France. Lubrizol is a specialty chemical company based in Wickliffe, OH.

 

3/25/2019  Martin Bauer Group acquired BI Nutraceuticals, Inc. The terms of the transaction were not disclosed. BI Nutraceuticals is a full-service manufacturer and supplier of plant-based ingredients in the United States and is based in Long Beach, CA. Martin Bauer is a manufacturer and supplier of teas, extracts and botanical products and is based in Vestenbergsgreuth, Germany.

 

Private Placements

 

1/9/2019  Organica Investment JSC announced that it has received a round of funding from new investor SEAF. Organica develops and distributes organic food and is based in Ho Chi Minh, Vietnam. SEAF is a private equity and venture capital firm based in Washington, D.C.

 

1/22/2019  The Good Crisp Company announced that it has received a round of funding from CircleUp Growth Partners. The Good Crisp Company manufactures and distributes gluten-free chips and is based in Dudley Park, Australia. CircleUp is a venture fund based in San Francisco, CA.

 

2/4/2019  Siete Family Foods Inc. announced that it has received $90.0 million in an equity round of funding from Stripes Group LLC and other investors. Siete produces grain-free tortillas and tortilla chips that are paleo, gluten-free, and preservative-free and is based in Austin, Texas. Stripes Group is a private equity and venture capital firm based in New York, NY.

 

2/5/2019  Natals, Inc. announced that it has received $25.0 million in its Series B round of funding led by existing investor Norwest Venture Partners with participation from Forerunner Ventures and Founders Fund. Natals develops nutritional supplements under the brand name Ritual and is based in Los Angeles, CA. Norwest is a venture capital and private equity arm of Wells Fargo Investment Group, Inc. and is based in Palo Alto, CA. Forerunner and Founders Fund are venture capital firms based in San Francisco, CA.

 

2/5/2019  Little Spoon Organic, LLC announced that it has received a $7.0 million round of funding led by investor Vaultier7 LLP with participation from SoGal Ventures, Interplay Ventures, and other investors. Little Spoon produces and delivers organic meals and snacks for babies and children through a direct-to-consumer subscription model and is based in San Francisco, CA. Vaultier is a venture capital firm based in London, United Kingdom. SoGal and Interplay are venture capital firms based in New York, NY.

 

2/5/2019  Liv Foods, Inc. announced that it has received its Series A round of funding led by Leatherwood Capital and other investors. Liv Foods manufactures and sells nutrition and protein bars and is based in Salem, OR. Leatherwood is a private investment firm based in Portland, OR.

 

2/19/2019  KF Wholesale LLC, dba Kidfresh, announced that it has received a round of funding from investors Emil Capital Partners, LLC, Monogram Capital Partners, AccelFoods, LLC and other investors. Kidfresh produces all-natural snacks and food products for children and is based in New York, NY. Emil Capital is the investment arm of Tengelmann Warenhandelsgesellschaft KG and is based in Greenwich, CT. Monogram Capital is a private equity firm based in Beverly Hills, CA. AccelFoods is a venture capital firm and is based in New York, NY.

 

2/21/2019  Epogee LLC announced that it has received $8.3 million in a round of funding led by new investor HG Ventures. Epogee develops and produces fat replacement food ingredients and is based in Indianapolis, IN. HG Ventures is a venture capital arm of The Heritage Group and is based in Indianapolis, IN.

 

2/26/2019  Egg Innovations, LLC announced that it has received $8.9 million in funding from 3 investors. Egg Innovations offers cage free and organic egg products and is based in Port Washington, WI.

 

2/26/2019  Motif Ingredients, Inc. announced that it has received $90.0 million in its Series A round of funding from Breakthrough Energy Coalition, Louis Dreyfus Company B.V., and other investors. Motif produces and supplies alternative proteins and other ingredients to global food companies and is based in Boston, MA. Breakthrough Energy Coalition is a venture capital firm based in the United States. Louis Dreyfus Company operates as a merchant and processor of agricultural goods worldwide and is based in Rotterdam, the Netherlands.

 

2/28/2019  Beanfields, PBC announced that it has received a round of funding led by returning investor Powerplant Ventures, LLC with participation from Western Technology Investment, and NRV. Beanfields manufactures and sells beans and rice tortilla chips and is based in Los Angeles, CA. Powerplant Ventures is a venture capital firm based in Los Angeles, CA. Western Technology is a venture capital firm based in Portola Valley, CA. NRV is a venture capital firm based in Richmond, VA.

 

2/28/2019  Kuli, Inc. announced that it has received $5.0 million in its Series B round of funding led by new investor Griffith Foods Inc. with participation from Eighteen94 Capital, LLC, Authentic Ventures, and other investors. Kuli produces nutritional moringa products in the United States and is based in Oakland, CA. Griffith Foods develops and manufactures customized food ingredient systems and is based in Alsip, IL. Eighteen94 Capital is the venture capital arm of Kellogg Company and is based in Battle Creek, MI. Authentic Ventures is a principal investment firm based in Oakland, CA.

 

3/1/2019  NotCo announced that it has received $30.0 million in a round of funding led by new investor The Craftory Limited with participation from Bezos Expeditions, LLC and other investors. NotCo produces a plant-based food alternative to mayonnaise, milk, yogurt, dressings, and desserts and is based in Macul, Chile. The Craftory is a principal investment firm based in London, United Kingdom. Bezos Expeditions is a venture capital firm based in Seattle, WA.

 

3/4/2019  Betterer Foods, Inc. announced that it has received $5.5 million in a round of funding from Strand Equity Partners, LLC and other investors. Betterer manufactures rice-based snacks and food products and is based in San Francisco, CA. Strand Equity is a private equity firm based in Chicago, IL.

 

3/7/2019  Uplift Food Pty Ltd announced that it has received an equity round of funding from new investor Mondelez International, Inc. (NasdaqGS:MDLZ). Uplift manufactures and retails dietitian created functional food products and is based in Caulfield North, Australia. Mondelez manufactures and markets snack food and beverage products worldwide and is based in Deerfield, IL.

 

3/8/2019  RiceBran Technologies (NasdaqCM:RIBT) announced that it has received $12.1 million in a round of funding from Continental Grain Company and other investors. RiceBran Technologies processes and markets healthy, natural, and nutrient dense products derived from raw rice bran and is based in The Woodlands, TX. Continental Grain engages in agricultural and protein-based businesses and is based in New York, NY.

 

3/27/2019  Xealth Inc. announced that it has received $11.0 million in its Series A round of funding from Koninklijke Philips N.V. (ENXTAM:PHIA), ResMed Inc. (NYSE:RMD), Novartis AG (SWX:NOVN), and other investors. Xealth develops and operates a digital health prescribing platform and is based in Seattle, WA. Koninklijke Philips operates as a health technology company worldwide and is based in Amsterdam, the Netherlands. ResMed develops, manufactures, distributes, and markets medical devices and cloud-based software applications and is based in San Diego, CA. Novartis researches, develops, manufactures, and markets healthcare products worldwide and is based in Basel, Switzerland.

John Farr