The Whipstitch Weekly

Volume 7 Number 26

Consumer Transaction Recap June 20-25, 2023

We track and report on consumer markets activity over the past week so you don't need to.

Food & Beverage

Personal Care

Health & Wellness

Pet

Other Consumer

. Food & Beverage .

COCA-COLA HELLENIC BOTTLING COMPANY PURCHASES FINLANDIA VODKA FOR $220MM

Coca-Cola HBC bought vodka brand Finlandia from Brown-Forman for $220 million.

FERRARO FOODS PURCHASES GDS FOODS

Ferraro Foods bought GDS Foods Inc, distributor of Italian food products to pizzerias on the East Coast.

ANHEUSER-BUSCH BUYS LEGENDS DISTRIBUTING

Anheuser-Busch purchased craft distributor Legends Distributing from Sheehan Family Companies.

STOCK SPIRITS ACQUIRES CLAN CAMPBELL WHISKEY

Stock Spirits Group purchased Scotch whiskey brand Clan Campbell from Pernod Ricard.

NATURE’S PATH BUYS LOVE CHILD ORGANICS

Canada-based organic food company Nature’s Path acquired baby food and children’s snack brand Love Child Organics from GreenSpace Brands.

ARBOR INVESTMENTS ACQUIRES GOLDEN MALTED AND HEARTLAND WAFFLES BRANDS

Arbor Investments purchased Golden Malted and Heartland Waffles companies from Roch Capital.

OWNERS OF D.L. GEARY BREWING COMPANY BUY BELFAST BAY BREWING

Alan and Robin Lapoint, owners of D.L. Geary Brewing Company, acquired Belfast Bay Brewing.

RESURGENCE BREWING COMPANY ACQUIRES BLACKBIRD CIDER WORKS

Resurgence Brewing purchased Blackbird Cider Works from Donovan Orchards, LLC.

STOUP BREWING PURCHASES OPTIMISM BREWING

Stoup Brewing acquired craft brewery Optimism Brewing.

OMEAT RAISES $40MM

Omeat, a cultivated meat development company, secured $40 million from S2G Ventures, GV, Bold Capital Partners, Tyson Ventures, Rethink Food, Trailhead Capital, and Cavallo Ventures.

LA LA LAND KIND CAFÉ RECEIVES $20MM

La La Land Kind Café secured $20 million from Rugger Management and Andy Teller.

TONY’S CHOCOLONELY SECURES €20MM

Tony’s Chocolonely raised €20 million in funding from current shareholders, including Genuine Chocolate and Verlinvest.

HYFE CLOSES $9MM SEED ROUND

Hyfé, a startup that converts food processing wastewater into meatless protein ingredients, raised $9 million led by Synthesis Capital with participation from The Engine, Refactor Capital, Supply Change Capital Overwater Ventures, X Factor Ventures, and Alumni Ventures.

LOCAL LINE ACQUIRES FORAGER

David Stone sold food procurement brand Forager to Local Line, a Toronto-based local food sourcing platform.

SLATE MILK RAISES $5MM FROM UFC

Slate Milk closed a $5 million investment and became an official partner of the UFC.

ADAMO FOODS SECURES £1MM+ LED BY SFC CAPITAL

Mycelium steaks producer Adamo Foods raised £1.5 million in funding from SFC Capital and Innovate UK.

. Personal Care .

KERING ACQUIRES CREED

Gucci owner Kering purchased high-end French fragrance label Creed.

ADVENT INTERNATIONAL BUYS SPRECHER BERRIER GROUP OF COMPANIES

Advent International took a majority stake in Sprecher Berrier Group of Companies, the parent company of niche fragrance lines Parfums de Marly and Initio Parfums Privés.

. Health & Wellness .

BEEKEEPER’S NATURALS RAISES $14MM

Health and wellness brand Beekeeper’s Naturals secured $14 million co-led by Devonshire Investors and CAVU Consumer Partners.

. Pet .

TOPSPIN CONSUMER PARTNERS ACQUIRES THREE DOG BAKERY’S CONSUMER PRODUCTS DIVISION

Topspin Consumer Partners purchased Three Dog Bakery’s consumer products division, which produces the brand’s dog treats, for an undisclosed amount.

DROOLS PET FOOD SECURES $60MM INVESTMENT FROM L CATTERTON

L Catterton invested $60 million in India-based pet food company Drools Pet Food Private Limited.

DESTINATION PET BUYS PET PALACE

Destination Pet purchased Pet Palace Boarding Resort, a pet care facility with 11 locations across the US.

BRIGHTPET NUTRITION GROUP ACQUIRES RAW ADVANTAGE PROCESSING

Premium pet food brand BrightPet Nutrition Group bought Raw Advantage Processing, a co-manufacturer of freeze-dried and frozen pet food and treats.

. Other Consumer .

PINSTRIPES MERGES WITH BANYAN ACQUISITION CORP FOR A COMBINED WORTH OF $520MM

Pinstripes Inc, a restaurant chain that combines bowling and bocce with Italian fare, went public in a merger with blank check company Banyan Acquisition Corp at a pro forma enterprise value of $520 million.

JAYA APPAREL GROUP SECURES INVESTMENT FROM BRAND VELOCITY GROUP

Jaya Apparel Group, owner of Cinq à Sept and Likely brands, received an investment from Brand Velocity Group.

Disclaimer: Whipstitch Capital does not warrant the accuracy, reliability, or timeliness of any transaction

news item. Before relying on any news item, the information should be independently verified.

. More from Whipstitch Capital .

IN THE NEWS: WHIPSTITCH SPEAKS AT BEVNET AND MENTIONED IN ‘BEVNET LIVE DAY 1 REWIND: MILO’S MAKES BIG MOVES; THE FUTURE OF FINANCING IS BIZ FUNDAMENTALS’

Earlier this month, Whipstitch Capital Managing Director Mike Burgmaier participated on a panel on the main stage at BevNET Live in New York City to discuss the current capital markets and how beverage companies should be thinking about their business relative to current conditions. The article below summarizes some of the panel’s discussion.

About Whipstitch Capital

Whipstitch Capital is the largest independent private investment bank in the U.S. solely focused on better-for-you and emerging consumer brands sectors, specializing in sell-side, buy-side M&A and private placements. Whipstitch understands that every situation, every company and product is unique. We listen. We focus. We provide honesty and transparency. We make deals happen. We create the 'whipstitch' of the deal. Get ready to Deal Different^TM .

For more information click here.

Michael Burgmaier

Managing Director

Email Mike

Nick McCoy

Managing Director

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