Consumer Private Placement and M&A Transactions Review Week Ending August 20, 2023

Vertical Future: The company raised GBP 60 million of venture funding from undisclosed investors on August 17, 2023. The company is a developer of vertical farming hardware and software technologies designed for sustainable crop production for both food and pharmaceuticals.

Kernel Foods: The company raised $36 million of Series A venture funding from Rethink Foods, Raga Partners (New York) and Willoughby Capital on August 10, 2023, putting the company’s pre-money valuation at $70 million. Virtru Investment Partners and other undisclosed investors also participated in the round. The company is a provider of streamlined restaurant outlets where machines and a small crew of employees will assemble meals.

Meatable: The company raised $35 million of Series B venture funding in a deal led by Agronomics on August 7, 2023. DSM Venturing, Bridford Group, BlueYard Capital, Milky Way Ventures, Taavet Hinrikus, and Invest-NL also participated in the round. The company is a developer of a stem cell technology designed to manufacture cultured meat.

SoChatti: The company raised $27.6 million of Series B venture funding from undisclosed investors on August 14, 2023. The company is a producer of dairy-free, artisanal melted dark chocolate.

Cara Wines: The company reported that it is in the process of raising $12 million of venture funding on August 7, 2023. The company is producer and importer of fine Italian wines, primarily for the US market.

Mosh: The company raised $6.5 million of venture funding from undisclosed investors on August 14, 2023. Joyance Partners invested in the round. The company is a producer of protein bars intended for improving brain health.

Yes Whey: The company raised $6.4 million of venture funding from undisclosed investors on August 15, 2023. The company produces the fast-growing Broken Shed Vodka brand made from New Zealand whey, blended with spring water, and free from GMOs, additives, chemicals, gluten, or added sugar.

KetoSwiss: The company raised EUR 4.4 million of venture funding from The William K. Warren Foundation & undisclosed investors on August 7, 2023. The company is a developer of nutraceutical medical food designed for the dietary preventive therapy for migraines and other related neurological diseases.

Barcode: The company raised $4.8 million of venture funding from Carmelo Anthony, Victor Wembanyama and Derek Fisher on August 17, 2023. Gervonta Davis, Jordan Clarkson, Chelsea Gray, Jae’sean Tate, Isaiah Hartenstein, Wayne Ellington, Lexie Brown and other undisclosed investors also participated in the round. The company is a producer of a plant-based beverage intended to provide a healthy vegan alternative to regular high-sugar drinks.

Catalina Crunch: The company raised $3 million of venture funding from undisclosed investors on August 11, 2023. The company is a producer of low-carb, keto-friendly cereal, cookies and snacks intended to provide healthy food choices.

Clean Food Group: The company closed on GBP 2.3 million of an undisclosed targeted amount of Series A venture funding from Alianza Team, Döhler and SEED Innovations on August 14, 2023. Agronomics also participated in the round. The company is a developer of a cellular agriculture system designed to commercialize palm oil production by fermentation.

Two Roads Brewing Company: The company received $2 million of development capital from undisclosed investors on August 15, 2023. The company is a producer of craft beer, providing a combination of classic German as well as American hop and malt varieties to customers.

Magic Mind: The company raised $1.7 million of venture funding in the form of SAFE Notes from undisclosed investors on August 11, 2023. The company is a producer of energy drinks intended to enhance concentration, stimulate creativity, boost motivation, and increase productivity.

Sword Performance: The company raised $1 million of venture funding in the form of convertible debt from undisclosed investors on August 14, 2023. The company is a producer of hydration products intended to battle dehydration and fatigue.

JetDrinks: The company raised an undisclosed amount of venture funding from Triodos Investment Management on August 17, 2023. The company provides organic, vegan and sugar-free soft drinks, juices, lemonade syrups, and hot and frozen drinks.

RRG Nature Based Solutions: The company raised an undisclosed amount of venture funding from Mitsui & Co. Alternative Investments and S2G Ventures on August 17, 2023. The company is a provider of regenerative agricultural projects intended to restore the natural environment through smart farming practices.

Sovos Brands / Campbell Soup: The company reached a definitive agreement to be acquired by Campbell Soup for $2.7 billion on August 7, 2023. Sovos Brands Inc is a food company offering a variety of premium products including pasta sauces, dry pasta, soups, frozen entrées, frozen pizza and yogurts under the brand names Rao’s, Michael Angelo’s and noosa.

GBB Drink Lab / Jupiter Wellness: The company was acquired by Jupiter Wellness for $7.5 million on August 11, 2023. The company is an operator of an e-commerce platform that provides rapid blood alcohol detoxification products and services.

10 Barrel Brewing / Tilray: Tilray, a subsidiary of Aphria, reached a definitive agreement to acquire the company, a subsidiary of AnheuserBusch InBev for an undisclosed amount on August 7, 2023. The company is an operator of a brewery and beer shops based in Bend, Oregon.

Bazooka Candy Brands / Apax Partners: The company entered into a definitive agreement to be acquired by Apax Partners through an LBO on August 14, 2023 for an undisclosed amount. The company is a manufacturer of hard candy lollipops and bubble gums.

Blue Point Brewing Company / Tilray: The company, a subsidiary of Anheuser-Busch InBev reached a definitive agreement to be acquired by Tilray, a subsidiary of Aphria, on August 07, 2023. The company is one of the largest breweries in New York which offers a portfolio of 30 year-round and seasonal beers.

Blue Run Spirits / Molson Coors Beverage Company: The company was acquired by Molson Coors Beverage Company for an undisclosed amount on August 8, 2023. The company is a producer of distinctive Kentucky Straight High Rye Bourbon small-batch whiskeys.

Breckenridge Brewery / Tilray: The company, a subsidiary of Anheuser-Busch InBev, reached a definitive agreement to be acquired by Tilray, a subsidiary of Aphria, for an undisclosed amount on August 7, 2023. The company is one of the oldest and fast growing producers of high-end craft beers in Colorado.

CanSource / TricorBraun: The company was acquired by TricorBraun, via its financial sponsors Ares Private Equity Group, Ares Management and Ontario Teachers’ Pension Plan, through an LBO on August 8, 2023 for an undisclosed amount. The company is a producer of canned beverage sleeve label services providing source sleeved, printed and brite cans across the beverages industry.

Envonics / RussKap Water: The company was acquired by RussKap Water for an undisclosed amount on August 15, 2023. The company is a developer of an AI-cloud ecosystem platform that enables farmers to monitor crops from anywhere at anytime.

Gläserne Molkerei / Mutares: The company, a subsidiary of Emmi, was acquired by Mutares through an LBO on August 14, 2023 for an undisclosed amount. The company is a producer of organic dairy products based in Münchehofe, Germany.

Hiball / Tilray: The company reached a definitive agreement to be acquired by Tilray, a subsidiary of Aphria, for an undisclosed amount on August 9, 2023. The company is a producer of organic energy drinks made with zero-sugar and zero-calories intended to be refreshing and energizing.

Mara Seaweed / The Seaweed Enterprise: The company was acquired by The Seaweed Enterprise for an undisclosed amount on August 14, 2023. The company is a producer of seaweed based seasonings, and is based in the UK.

Pasture Farm Foods / Haffners Pies & Butchery: The company was acquired by Haffners Pies & Butchery for an undisclosed amount on August 10, 2023. The company is a provider of meat and pie products based out of United Kingdom.

Shock Top / Tilray: Tilray, a subsidiary of Aphria reached a definitive agreement to acquire the Company, a subsidiary of Anheuser-Busch, for an undisclosed amount on August 7, 2023. The company is a producer of traditional Belgian-Style wheat ale that is naturally cloudy.

Somerdale International / Barber’s Farmhouse Cheesemakers: The company was acquired by Barber’s Farmhouse Cheesemakers for an undisclosed amount on August 14, 2023. The company is a producer, wholesaler, and distributor of cheese and dairy products headquartered in Wellington, England.

Watershed Distillery / Marussia Beverages USA: The company was acquired by Marussia Beverages USA for an undisclosed amount on August 7, 2023. The company is a producer of high quality gins, bourbons and other spirits based in Columbus, Ohio.

Widmer Brothers Brewing / Tilray: The company, a subsidiary of Craft Brew Alliance, a subsidiary of Anheuser-Busch reached a definitive agreement to be acquired by Tilray, a subsidiary of Aphria, for an undisclosed amount on August 7, 2023. The company is specialized in producing American style Hefeweizen craft beer or Hefe (translated from German as ‘yeast wheat’) based in Portland, Oregon.