Consumer Private Placement and M&A Transactions Review Week Ending December 11 2022

Enko: The company raised $80 million of Series C venture funding in a deal led by Nufarm on December 5, 2022, putting the company’s pre-money valuation at $250 million. Eight Roads, Endeavor8, Anterra Capital, Rabo Food and Agri Innovation Fund, Novalis LifeSciences, Bill & Melinda Gates Foundation, Finistere Ventures, Germin8 Ventures, To Ventures, Alumni Ventures, Connecticut Innovations and Taher Gozal also participated in the round. The company is a developer of safe and sustainable small molecule technologies designed to address farmers’ crop threats from pests due to resistance and new diseases.

Sound: The company raised $75 million of Series D venture funding in a deal led by Chan Zuckerberg Initiative and BMO Financial Group on December 7, 2022, putting the company’s pre-money valuation at $300 million. Syngenta Group Ventures, Cavallo Ventures, Leaps by Bayer, FootPrint Coalition Ventures, Fall Line Capital, S2G Ventures and Northpond Ventures also participated in the round. The company is a provider of hydraulic enhancement products for crops intended to improve harvest yields and water use efficiency across a variety of crops.

MarginEdge: The company raised $45 million of Series C venture funding in a deal led by Ten Coves Capital on December 7, 2022. In Good Company Hospitality Group, Fiserv, Schooner Capital, Derive Ventures, Digital Irish Angels, Branded Strategic Hospitality, Virginia Venture Partners, Osage Venture Partners, Vitalize Venture Capital, Relish Works and New Dominion Angels also participated in the round. The company is a developer of diner management software designed to provide automated invoice processing with food and beverage cost analytics.

Naïo Technologies: The company received EUR 32 million of development capital from Demeter Partners, M Capital Partners, Capagro, Mirova, Pymwymic, Bpifrance and ARIS Occitanie on December 7, 2022. The company is a developer of agricultural robots designed to improve farming efficiency while reducing dependence on chemical pesticides and herbicides.

80 Acres Farms: The company received $25 million of development capital from FTX Ventures on December 9, 2022. The company is an operator of a vertical farm intended to provide fresh, nutritious and sustainably grown fruits and vegetables.

Good Food For Good: The company raised $23.2 million in Series A funding from Altos Ventures and QUAD Investment Management on December 5, 2022 The company is an operator of an online marketplace intended to provide organic, farm-fresh food products.

Greenforce: The company raised EUR 13 million of venture funding from undisclosed investors on December 8, 2022. The company is a producer and retailer of plant-based food products to provide vegan customers with sustainable meat and milk alternatives.

MALK Organics: The company raised $9 million of Series B venture funding in a deal led by Rotor Capital Partners and Benvolio Group on December 6, 2022. Continental Grain Company also participated in the round. The company is a producer of milk alternatives intended to provide healthy and organic nut beverages.

ONEHOPE: The company raised $6.9 million of venture funding from A.M. Management & Consulting, Brian Koo, and Joanne Weiss on December 5, 2022. Wesley Chan and other undisclosed investors also participated in the round. The company is an operator of a winery in Napa, California.

CookUnity: The company raised $4.5 million of venture funding from undisclosed investors on December 8, 2022. The company is a developer of an online food delivery platform intended to offer specially crafted food online.

Brooklyn Gin: The company raised venture funding in the form of convertible debt from undisclosed investors on December 8, 2022. The company is an operator of a craft spirit distillery in Brooklyn, NY.

Gorillas / Getir: The company was acquired by Getir for EUR 1.2 billion on December 9, 2022. The company is an operator of a grocery delivery platform.

Nutrabolt / Keurig Dr Pepper: The company reached a definitive agreement to receive $863 million of financing from Keurig Dr Pepper on December 8, 2022. The company is a developer and distributor of supplements and RTD beverages for the sports nutrition market.

Wilderness Trail Distillery / Gruppo Campari: The company was acquired by Gruppo Campari, a subsidiary of Alicros, for $424.7 million on December 7, 2022. The company is an operator of a distillery based in Danville, Kentucky.

Wetzel’s Pretzels / MTY Food Group: The company was acquired by MTY Food Group for CAD 284 million on December 8, 2022. The company is an operator of a quick-service franchise restaurant specializing in pretzels and hot dogs.

Boost Drinks / A.G. Barr: The company was acquired by A.G. Barr for GBP 32 million on December 5, 2022. The company is a producer of value-priced energy drinks based in Leeds, UK.

Mimi’s Rock / FitLife Brands: The company reached a definitive agreement to be acquired by FitLife Brands for CAD 27.2 million on December 5, 2022. Mimi’s Rock Corp is a marketer and distributor of dietary supplements, vitamins, skin care and other wellness products through online channels to its customers in the United States, Canada and Europe.

ALDI (Denmark)/ REMA 1000: Danish discount grocer REMA 1000 Denmark, a subsidiary of Reitan Retail, has agreed to acquire the majority of ALDI’s store portfolio in Denmark. ALDI is an operator of a global discount supermarket chain.

Brownie Brittle / CapVest Partners: The company was acquired by Second Nature Brands, via its financial sponsor CapVest Partners, through an LBO on December 66, 2022 for an undisclosed amount. The company is a producer of fudge brownies and other baking products serving restaurants and theme parks.

Burger Business / Kwalitaria: The company entered into a definitive agreement to be acquired by Kwalitaria, via its financial sponsor Antea Participaties, through an LBO on December 7, 2022 for an undisclosed amount. The company is an operator of a burger restaurant based in Tilburg, Netherlands.

Francesco Rinaldi / Sugo Sauce: The company was acquired by Sugo Sauce from LiDestri Foods for an undisclosed amount on December 5, 2022. The company is a producer of sauces made from a family recipe handed down for generations in El Paso, Texas.

Fullers Foods International / Individual Investor: The company was acquired by Mr. Kevin Smith in a management buyout for an undisclosed amount on December 5, 2022. The company is a provider of private label foods and brand packaging services catering to grocery retailers and food service operators.

Gobble / Pruvit Ventures: The company was acquired by Pruvit Ventures for an undisclosed amount on December 7, 2022. The company is a developer of a meal kit delivery platform designed to offer nutritious, gourmet meals at home.

Henry’s Foods / Amcon Distributing: The company reached a definitive agreement to be acquired by Amcon Distributing for an undisclosed amount on December 8, 2022. The company is a distributor of food services catering to convenience stores.

Heritage Distilling Co / Better World Acquisition: The company reached a definitive agreement with Better World Acquisition (Nasdaq: BWAC), an ESG-focused SPAC, through a reverse merger as of December 9, 2022. The transaction implies a pro forma enterprise value of $122.2 million at closing. The company is an operator of a craft spirits distillery company.

MARELEC Food Technologies / Duravant: The company was acquired by Duravant, via its financial sponsors Warburg Pincus and The Carlyle Group, through an LBO on December 5, 2022 for an undisclosed amount. The company is a manufacturer of equipment for fish and meat processing.

Supli / Orderlion: The company was acquired by Orderlion for an undisclosed amount on December 7, 2022. The company is a provider of a food supply discovery platform designed to simplify the supply chain between restaurants and suppliers.

Wells Enterprises / Ferrero International: The company reached a definitive agreement to be acquired by Ferrero International for an undisclosed amount on December 7, 2022. The company is a manufacturer of ice cream, frozen novelties and specialty frozen desserts, including the brands Blue Bunny®, Blue Ribbon Classics®, Bomb Pop® and Halo Top®.