Consumer Private Placement and M&A Transactions Review Week Ending November 24, 2024

EarthOptics: The company raised $55 million of venture funding in a deal led by Conti Ventures and The Production Board on November 19, 2024. Leaps by Bayer, Shell Ventures, Bayer, Cibus Capital, RuralWorks Partners, Earthshot Ventures, CNH Ventures, Route 66 Ventures, S2G Ventures, iSelect Fund, Pappas Capital, Serra Ventures, VTC Ventures, Rabo Ventures, Cooperative Ventures, TO VC (New York) and The Norinchukin Bank also participated in the round. The company is a developer of a soil data measurement and mapping platform for sustainable agricultural management.

KoRo: The company raised EUR 35 million of Series C venture funding in a deal led by Coefficient Capital on November 20, 2024. SevenVentures, Haub Legacy Ventures, HV Capital, Five Seasons Ventures and Partech also participated in the round. The company is a producer of snack food and beverage products sold in bulk form.

Full Harvest: The company raised $29.3 million of Series B venture funding in a deal led by TELUS Global Ventures on November 20, 2024. Japan Airlines, Sandbox Industries, Astia, Spark Capital, Portfolia, Rabo Ventures, Rethink Impact, TransLink Capital, Climate Capital, Rabo Investments, Citi Impact Fund, Radicle, Unreasonable Group, Kirk Haney, Mpactful Ventures, Doon Capital, Stardust Equity and Citigroup also participated in the round. The company is an operator of an online B2B produce marketplace that connects commercial produce buyers directly to farms.

Apothékary: The company raised $20 million through a combination of debt and equity on November 20, 2024, putting the company’s pre-money valuation at $120 million. The company is an operator of an herbal medicine business intended to offer alternatives to over-the-counter drugs and supplements.

Still Austin Whiskey: The company raised $18.7 million of venture funding from undisclosed investors on November 20, 2024. The company is an operator of a craft whiskey distillery.

Four Growers: The company raised $9 million of Series A venture funding in a deal led by Bassett Capital on November 20, 2024, putting the company’s pre-money valuation at $17 million. Ospraie Ag Science (farming), Y Combinator, and other undisclosed investors also participated in the round. The company is a developer of a robotic harvesting technology.

Cascadia Seaweed: The company raised CAD 10 million of Series A venture funding through a combination of convertible debt and equity on November 21, 2024, putting the company’s pre-money valuation at CAD 15 million. The company is a producer of low-impact seaweed-derived products for crop fertilization and cattle feed augmentation.

Golden Ratio: The company raised $3 million of venture funding from undisclosed investors on November 20, 2024. The company is a producer of low-roast, low-acid coffee beans.

Virtue: The company raised GBP 2 million of venture funding from James Watt, Eberechi Eze and other undisclosed investors on November 20, 2024. The company is a producer of yerba mate-based energy drinks.

Botanic Tonics: The company raised $2.43 million of venture funding from undisclosed investors on November 21, 2024. The company is a producer of plant-based herbal tonics and capsules.

Agri Lab Leverage: The company raised EUR 1.6 million of venture funding in a deal led by TimeToAct Capital on November 19, 2024. Foodara, Femmes Business Angels, Finance & Technologie, and Compiègne University of Technology also participated in the round. The company is a manufacturer of bio-sourced ingredients intended to transform plant co-products into antioxidant/acidifiers, dietary fibers, and secondary products.

Meatable: The company raised an undisclosed amount of venture funding from Betagro on November 18, 2024. The company is a developer of a stem cell technology designed to manufacture cultured meat.

Sabra Dipping / Pepsico: The company,a subsidiary of Strauss Group, reached a definitive agreement to be acquired by Pepsico for $240.8 million on November 22, 2024. The company is a producer of hummus products based in White Plains, New York.

Golden Organics / Innovative Food Holdings: The company was acquired by Innovative Food Holdings for $1.75 million on November 21, 2024. The company is a distributor of organic bulk ingredients for the food service industry based out of Denver, Colorado.

Bozal Mezcal / Maguey Spirits: The company, a subsidiary of 3 Badge Beverage Corporation was acquired by Maguey Spirits for an undisclosed amount on November 20, 2024. The company is a producer of mezcal spirits based in Sonoma, California.

Celtech / Velec Systems: The company was acquired by Velec Systems for an undisclosed amount on November 22, 2024. The company is a manufacturer of food filling machines catering to pastry, cosmetics, prepared meals, preserves and the collective catering industry.

Dancing Goats Coffee / Dillanos Coffee Roasters: The company was acquired by Dillanos Coffee Roasters for an undisclosed amount on November 22, 2024. The company is a an operator of a coffee shop chain and is a producer of specialty, artisan coffee in Georgia and Washington, USA.

Jean-Paul Lesouef / Unknown Investor: The Artisanal Business of Jean-Paul Lesouef was acquired for an undisclosed amount on November 23, 2024. The company is a producer of vire andouille and smoked salmon based in Normandy, France.

Jersey Mike’s Subs / Blackstone: The company entered into a definitive agreement to be acquired by Blackstone through an LBO on November 19, 2024 for approximately $8 billion. The company is an operator of a sub sandwich franchise chain based in the United States.

Maison Bayle / Solexia: The company was acquired by Solexia through an LBO on November 20, 2024 for an undisclosed amount. The company is an operator of a butcher shop and delicatessen for high-quality meat and gourmet food products.

Mar-Ko Fleischwaren / Westfälische Fleischwarenfabrik Stockmeyer: The company reached a definitive agreement to be acquired by Westfälische Fleischwarenfabrik Stockmeyer, a subsidiary of Heristo Holding, for an undisclosed amount on November 20, 2024. The company is a manufacturer of meat snacks and other convenience products intended to serve the food industry.

Pasote Tequila / Maguey Spirits: The company, a subsidiary of 3 Badge Beverage was acquired by Maguey Spirits, a subsidiary of Balandra Capital, for an undisclosed amount on November 20, 2024. The company is a producer of tequila based in Samona, California.

Pettaway Coffee / Daisy Pastry Shoppe: The company was acquired by Daisy Pastry Shoppe for an undisclosed amount on November 18, 2024. The company is an operator of a coffee shop chain and is a producer of coffee products in Arkansas, USA.

Phat Fudge / Natural Healthy Concepts: The company was acquired by Natural Healthy Concepts, via its financial sponsor Anderson Media, through an LBO on November 18, 2024 for an undisclosed amount. The company is a producer of fudge products catered to the ketogenic diet.

Pikes Peak Brewing / Goat Patch Brewing: The company reached a definitive agreement to be acquired by Goat Patch Brewing for an undisclosed amount on November 18, 2024. The company is an operator of a craft brewery based in Colorado.

Right Coast Spirits / FX Matt Brewery: The company was acquired by FX Matt Brewery for an undisclosed amount on November 18, 2024. The company is a producer of ready-to-drink spirits and cocktails.

UndergroundCellar / Wine Country Connect: The company was acquired by Wine Country Connect for an undisclosed amount on November 21, 2024. The company is an operator of an online wine marketplace.

Upper Hand Brewery / Seven Beverages: The company, a subsidiary of Bell’s Brewery reached a definitive agreement to be acquired by Seven Beverages for an undisclosed amount on November 20, 2024. The company is an operator of a craft brewery based in Michigan, USA.

Ferris Genomics / Solis Agrosciences: The company was acquired by Solis Agrosciences for an undisclosed amount on November 20, 2024. The company is a provider of DNA analysis services intended for breeding programs in various agricultural sectors.