Consumer Private Placement and M&A Transactions Review Week Ending March 26 2023

EarthOptics: The company raised $34.4 million of Series B venture funding in a deal led by Continental Grain Company on March 21, 2023, putting the company’s pre-money valuation at $40.4 million. Leaps by Bayer, Louis Dreyfus Company, CHS, CNH Industrial, Rabo Food and Agri Innovation Fund, Cooperative Ventures, Flagship Pioneering, Middleland Capital, iSelect Fund, VTC Ventures, Route 66 Ventures, FHB Ventures, and S2G Ventures also participated in the round. The company is a soil data measurement and mapping business that creates accurate, real-time data maps to show compaction, carbon, moisture, and nutrients for sustainable agricultural management.

Momofuku: The company received $17.6 million of development capital from Siddhi Capital and other undisclosed investors on March 20, 2023. The company is an operator of a contemporary Asian-American cuisine restaurant chain.

Miso Robotics: The company raised $15 million of Series A1 venture funding from undisclosed investors on March 22, 2023. The company is a developer of an autonomous robotic kitchen assistant designed for commercial kitchen automation.

Good Eggs: The company raised $7 million of venture funding from Greenwich Associates, Glade Brook Capital Partners and Conn. on March 23, 2023, putting the company’s pre-money valuation at $15 million. The company is an operator of an online grocery delivery platform.

C16 Biosciences: The company raised $5 million of venture funding from Breakthrough Energy Ventures and other undisclosed investors on March 22, 2023. The company is a producer of an alternative palm oil intended to reduce global carbon dioxide emission.

Della Vite: The company raised GBP 3 million of venture funding in a deal led by Laura Riascos and Miguel Riascos on March 21, 2023. The company is a producer of sustainably made alcoholic beverages intended to deliver authentic and unique flavors.

Harvest London: The company raised an undisclosed amount of venture funding from Foresight Group on March 21, 2023. The company is an operator of a vertical farming startup intended to build a sustainable food system.

Algaia / JRS Pharma: The company was acquired by JRS Pharma for an undisclosed amount on March 22, 2023. The company is a producer of natural seaweed and other algal extracts intended for the agro-nutrition, personal care and nutraceutical industries.

Aseptic Solutions USA / Baldwin Richardson Foods Co.: The company, a subsidiary of Glanbia was acquired by Baldwin Richardson Foods Co. for an undisclosed amount on March 23, 2023. The company is a producer of nutritional and dietary beverages based in Corona, California.

Canidae / Natural Balance Pet Foods: The company was acquired by Natural Balance Pet Foods, via its financial sponsor Nexus Capital Management, through an LBO on March 21, 2023 for an undisclosed amount. L Catterton also participated in the transaction. The company is a manufacturer and seller of pet foods.

Gen Z / Langer Juice Company: The company, a subsidiary of Fulcrum Collective was acquired by Langer Juice Company for an undisclosed amount on March 20, 2023. The company is an operator of an e-commerce platform intended to sell water sustainably in aluminum bottles.

Skrewball Whiskey / Pernod Ricard: The company reached a definitive agreement to be acquired by Pernod Ricard for an undisclosed amount on March 21, 2023. The company is a manufacturer and supplier of peanut butter whiskey.

Vintage Food / Ziyad Brothers: The company was acquired by Ziyad Brothers, via its financial sponsors Ares Capital Corporation BDC, Ares Management, Barings and Peak Rock Capital, through an LBO on March 20, 2023 for an undisclosed amount. The company is a distributor of premium European & Mediterranean specialty food products intended for food retailers, wholesalers and food services agencies.