The Whipstitch Weekly

Volume 7 Number 42

Consumer Transaction Recap October 10-16, 2023

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

Whipstitch News

Food & Beverage

Personal Care

Health & Wellness

Pet

Other Consumer

. Whipstitch News .

SOVOS BRANDS: INTERVIEW FROM BAIN & COMPANY/WHIPSTITCH CAPITAL “BUILDING THE NEXT BILLION DOLLAR BRAND” EVENT

Whipstitch Capital and Bain & Company had the opportunity to sit down with Sovos Brands' Chief Sales Officer, Risa Cretella as part of the "Building the Next $1 Billion Brand" panel at Expo West 2023. Risa discussed the importance of preserving the essence of insurgent brands and emphasizes the significance of preserving the core brand.

. Food & Beverage .

APAX PARTNERS COMPLETES ACQUISITION OF BAZOOKA CANDY BRANDS

Apax Partners purchased Bazooka Candy Brands, the parent company of Ring Pop, Juicy Drop, and Bazooka Bubble Gum, for $700 million.

NATURE’S TOUCH PURCHASES SUNOPTA’S FROZEN FRUIT BUSINESS FOR $141MM

SunOpta sold its frozen fruit business, including facilities in Kansas and Mexico, for $141 million to Nature’s Touch.

CITATION CAPITAL ACQUIRES MAJORITY STAKE IN CIBO VITA

Citation Capital purchased Cibo Vita, a better-for-you snack company and producer of snack mixes, trail mixes, and dried fruits. Terms of the deal were not disclosed.

SK CAPITAL PARTNERS BUYS J&K INGREDIENTS

SK Capital Partners acquired J&K Ingredients, a supplier of food and beverage ingredients, from CORE Industrial Partners. Terms of the deal were not disclosed.

BETTER BOOCH PURCHASES LIVE BRANDS FROM GREAT POINT BRANDS

Kombucha brand Better Booch acquired fermented drink maker Live Beverages from private equity firm Great Point Brands. Terms of the deal were not disclosed.

VFC FOODS ACQUIRES CLIVE’S PURELY PLANTS

Meat alternative brand VFC Foods purchased vegan pie, quiche, and roast brand Clive’s Purely Plants. Terms of the deal were not disclosed.

TEMPO GROUP OF COMPANIES PURCHASES NOURISH FOODS

Tempo Group of Companies acquired Nourish Foods, a healthy kids snack brand. Terms of the deal were not disclosed.

EDEN BREW SECURES NEARLY $25MM

Eden Brew, a developer of animal-free casein dairy products, completed a $24.5 million Series A led by Main Sequence Ventures with participation from Radar Ventures, Possible Ventures, and others.

BON VIVANT RAISES NEARLY $16MM

Bon Vivant, a producer of dairy products that uses yeast microorganisms, secured $15.8 million in a Seed round led by Sofinnova Partners and Sparkfood.

WANDA FISH TECHNOLOGIES SECURES $7MM

Wanda Fish, a developer of cultivated fish, raised $7 million in Seed funding led by Aqua-Spark, with participation from Kitchen Hub, Peregrine Ventures, Pico Venture Partners, and more.

YUVRAJ SINGH INVESTS IN GRETO

Ice cream, yogurt, and snacks company Greto secured an investment from former India international cricketer Yuvraj Singh.

TOAST-IT SECURES $150K INVESTMENT FROM DANIEL LUBETZKY

TOAST-IT, a Venezuelan arepas brand, received a $150k investment for 20% of the company from KIND Snacks founder Daniel Lubetsky.

. Personal Care .

ANIMA MUNDI ACQUIRES FLORACOPEIA

Botanical beauty and wellness brand Anima Mundi purchased essential oil company Floracopeia. Terms of the deal were not disclosed.

TRAFILIA TECH E-COMMERCE GROUP PURCHASES THE SPA DR.

Shapewear brand Trafilea Tech E-commerce Group bought natural and clean ingredient skincare brand The Spa Dr. Terms of the deal were not disclosed.

ELLIS BROOKLYN COMPLETES $9MM SERIES A

Fragrance brand Ellis Brooklyn raised $9 million in a round led by REDO Ventures.

. Health & Wellness .

BARRE3 ACQUIRES THE BARRE CODE

Fitness company Barre3 purchased competitor The Barre Code, a collection of studios focused on Barre classes. Terms of the deal were not disclosed.

.Pet.

POST HOLDINGS ACQUIRES PERFECTION PET FOODS FOR $235MM

Post Holdings bought Perfection Pet Foods, a manufacturer and packager of private label and co-manufactured pet food and baked treat products, for $235 million.

WIND POINT PARTNERS PURCHASES ASSISI PET CARE GROUP

Wind Point Partners bought Assisi Pet Care Group, a producer of premium and natural dog and cat food and treats. Terms of the deal were not disclosed.

. Other Consumer .

BIRKENSTOCK IPOS AT A $8.6B VALUATION

Shoe and sandal brand Birkenstock went public at $46 per share, raising $1.5 billion and valuing the company at $8.6 billion.

APOLLO GLOBAL TAKES THE RESTAURANT GROUP PRIVATE FOR $623MM

Wagamama owner The Restaurant Group agreed to be taken private by Apollo Global for $623.4 million.

PAIR EYEWEAR SECURES $75MM

Pair Eyewear, a provider of customizable eyewear, raised a $75 million Series C led by Prysm Capital with participation from NEA, Javelin Venture Partners, and others.

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 .

WHIPSTITCH CAPITAL’S TIM SOUSA TO SPEAK AT BEAUTY CONNECT

Whipstitch Capital Director Tim Sousa will be speaking at Beauty Connect in Los Angeles, CA, a three-day event scheduled for November 6 – 8. The conference aims to foster innovation, investment and partnerships in the beauty, wellness and personal care sectors. Tim joins Ju Rhyu, co-founder of Hero Cosmetics, and Giannuzzi Lewendon’s Kara Posner to discuss fundraising and the M&A environment in the personal care/beauty space, as well as providing entrepreneurs critical information on key financial metrics and legal issues to consider ahead of a transaction. The panel will be moderated by Carolyn Cipolla & Megan Klingbeil of Anchin. Beauty Connect is a leading industry event in the beauty and personal care sectors.

About Whipstitch Capital

Whipstitch Capital is the largest independent investment bank in the U.S. specializing in next-generation and insurgent consumer brands. We provide sell-side and buy-side M&A along with private placement services. Founder owned and led, we understand 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.

For more information click here.

Michael Burgmaier

Managing Director

Email Mike

Nick McCoy

Managing Director

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