The Whipstitch Weekly

Volume 7 Number 43

Consumer Transaction Recap October 17-23, 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

. Food & Beverage .

REDWOOD HOLDINGS ACQUIRES NEWLY WEDS FOODS FOR $4B

Redwood Holdings, the family office of Jim Davis and Steve Bisciotti, agreed to purchase food ingredient company Newly Weds Foods for $4 billion.

FERRARA CANDY CO ACQUIRES JELLY BELLY CANDY CO

Ferrara Candy Co. agreed to purchase jelly bean and gourmet specialty confections brand Jelly Belly Candy Co. Terms of the deal were not disclosed.

PROXIMO SPIRITS BUYS ICON SPIRITS

Proximo Spirits, the parent company of Jose Cuervo, purchased Spanish alcohol distribution company Icon Spirits and renamed it Proximo Spain. Terms of the deal were not disclosed.

BENFORD CAPITAL PARTNERS BUYS RP FOODS

Benford Capital Partners purchased RP Foods, a branded, private label, and B2B Hispanic food and beverage company. Terms of the deal were not disclosed.

THE COMPLEAT FOOD GROUP PURCHASES PALACE CULTURE

Food manufacturer The Compleat Food Group acquired organic, plant-based cheese producer Palace Culture. Terms of the deal were not disclosed.

JM SMUCKER DIVESTS FERMENTED FOOD BRANDS TO TREEHOUSE FOODS FOR $20MM

TreeHouse Foods purchased pickled food brands Bick’s, Habitant, Woodman’s, and McLarens from JM Smucker for $20 million.

HOMEGROWN BRANDS MERGES WITH SVB FOODS

CPG brand accelerator Homegrown Brands integrated with SVB Foods, a manufacturer of dressings and sauces. The combined entity will retain the Homegrown Brands name. Terms of the deal were not disclosed.

EAT THE CHANGE RAISES $14MM

Food and beverage company Eat the Change secured $14 million to promote its iced tea beverage line in a round led by S2G Ventures and Collaborative Fund.

IYA FOODS RAISES CAPITAL

Iya Foods, a producer of baked goods made with African superfoods, secured capital from Clover Vitality and Cleveland Avenue.

NOSH Daily Briefing, October 23, 2023

TIA LUPITA SECURES NEARLY $3MM

Mexican-inspired food brand Tia Lupita Foods raised $2.6 million in funding, led by Santatera Capital and GBM Ventures.

BROCK PURDY INVESTS IN YERBAÉ

Brock Purdy, quarterback for the San Francisco 49ers, completed an investment in plant-based energy beverage company Yerbaé Brands.

SLATE MILK SECURES INVESTMENT FROM MAXX CROSBY

Las Vegas Raiders defensive end Maxx Crosby invested in protein beverage brand Slate Milk.

. Personal Care .

SILBER EQUITY ACQUIRES PURE BRAZILIAN

Silber Equity purchased Pure Brazilian, a haircare brand focused on frizz and split-end prevention. Terms of the deal were not disclosed.

LÍHA BEAUTY RAISES £1MM

Líha Beauty, a natural and organic skincare and home brand, closed a £1 million round.

. Health & Wellness .

L CATTERTON TAKES THORNE HEALTHTEC PRIVATE FOR $680MM

L Catterton completed its acquisition of Thorne HealthTech, Inc, a provider of supplements and health tests, for $680 million.

GARDENUITY RAISES $5MM+

Gardening and female wellness company Gardenuity secured $5.5 million in seed funding led by Michael Mann of Anchor Capital and Alan Shor of Retail Connection.

.Pet.

BARK SOCIAL ACQUIRES BARKHAUS

Bark Social, a social club for dogs and dog lovers, purchased Alexandria, VA based Barkhaus, a dog-friendly bar, making this their fourth location. Terms of the deal were not disclosed.

. Other Consumer .

GRUPO CALLEJA PURCHASES ALMACENES EXITO FOR $556MM

Grupo Calleja agreed to buy South America retail company Almacenes Exito from Casino Guichard-Perrachon SA for $556 million, valuing the company at $1.2 billion.

ANTA SPORTS AGREES TO ACQUIRE MAJORITY STAKE IN MAIA ACTIVE

Chinese sportswear group Anta Sports has agreed to purchase a 75% stake in Maia Active, a premium women’s activewear brand.

SOCIETY BRANDS RAISES $25MM

Society Brands, a platform of ecommerce native brands that includes Barnesmith and Power Theory, secured $25 million from investors including Callais Capital and North Coast Ventures.

SALTED COMPLETES $14MM SERIES B

Salted, a company that builds quick-serve restaurant brands, secured $14 million in a round led by Creadev.

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 provide 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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