Consumer Private Placement and M&A Transactions Review Week Ending June 25, 2023

Boomerang: The company raised $11.6 million of venture funding from undisclosed investors on June 22, 2023. The company is a provider of a water delivery service intended to eliminate the need for single-use plastic water bottles.

Hawaii Volcanic Water: The company has raised $10 million in a funding round with L.A. Libations and other undisclosed investors.  Hawaii Volcanic’s water is sustainably sourced from the Kea’au aquifer located beneath mineral-rich volcanic layers of the Mauna Loa Volcano.

BetterBrand: The company raised $6 million of Series A venture funding in a deal led by Verso Holdings on June 21, 2023, putting the company’s pre-money valuation at $170 million. Gaingels, Seven Seven Six, Kyle Vogt, Chris Hollod, Jeff Azoff, Glenne Azoff, and other undisclosed investors also participated in the round. The company makes low carb, low sugar, and high protein bagels and buns using plant-based ingredients.

Base Culture: The company raised $4.3 million of venture funding from undisclosed investors on June 22, 2023. The company is a producer of bakery products intended to offer grain-free and gluten-free food.

Nirvana Super: The company raised $2.6 million of venture funding from undisclosed investors on June 21, 2023. The company is a manufacturer HMB and vitamin D3 infused spring water sourced from the Adirondack mountains.

Karma Kebab: The company raised EUR 2 million of venture funding from Brave New Food Investments, Capital Blue Partners and Phase2.earth on June 22, 2023. The company is a producer of plant-based vegetable kebabs.

Nutrinova Netherlands / Mitsui & Company: Nutrinova Netherlands, a subsidiary of Celanese was acquired by Mitsui & Company for $ 472.5 million on June 23, 2023. The company is a manufacturer and retailer of functional food ingredients based in Amsterdam, Netherlands.

Meatless Farm / VFX Foods: Meatless Farm was acquired by VFX Foods for GBP 12 million on June 21, 2023. The company is a developer of plant-based food products designed to help people reduce their meat consumption.
Belfast Bay Brewing / The Strainrite Companies: Belfast Bay Brewing was acquired by The Strainrite Companies for an undisclosed amount on June 21, 2023. The company is a producer of craft beer located in Belfast, Maine.

Clan Campbell / Stock Spirits Group: The Clan Campbell brand of Pernod Ricard has entered into a definitive agreement to be acquired by Stock Spirits Group, via its financial sponsor CVC Capital Partners, through an LBO on June 23, 2023 for an undisclosed amount. The company is a manufacturer and operator of scotch whiskey based in Marseille, France.

Golden Malted / Arbor Investments: Golden Malted was acquired by Arbor Investments through an LBO on June 20, 2023 for an undisclosed amount. The company is a producer of waffle and pancake mix intended for hotels, universities, restaurants and theme parks.

Heartland Waffles / Arbor Investments: Heartland Waffles was acquired by Arbor Investments through an LBO on June 20, 2023 for an undisclosed amount. The company is a producer of waffle and pancake mixes intended for hotels, restaurants, universities and other food service establishments across North America.

Juste Presse / MyBrazil: Juste Presse was acquired by MyBrazil for an undisclosed amount on June 21, 2023. The company is a producer of cold-pressed products made of fruits and vegetables based in Paris, France.

Naughty Nuts / Smart Organic: Naughty Nuts was acquired by Smart Organic for an undisclosed amount on June 20, 2023. The company is a producer of organic dry fruits and snacks.

Oedipus Brewing / Heineken: Oedipus Brewing was acquired by Heineken for an undisclosed amount on June 22, 2023. Oedipus Brewing produces craft beer.

Optimism Brewing / Stoup Brewing: Optimism Brewing reached a definitive agreement to be acquired by Stoup Brewing for an undisclosed amount on June 20, 2023. Optimism Brewing produces small batch crafted beer.