Consumer Private Placement and M&A Transactions Review Week Ending May 12, 2024

Meati: The company raised $222.4 million of Series C1 venture funding in a deal led by Grosvenor Food & AgTech on May 9, 2024. Congruent Ventures, Prelude Ventures, BOND Capital, and Revolution also participated in the round. The company is a producer of plant-based food products intended to act as a sustainable alternative to meat.

Voyage Foods: The company raised $52 million of Series A venture funding in a deal led by Level One Fund and Horizons Ventures on May 9, 2024. SOSV, Collaborative Fund, Nimble Partners, and IndieBio also participated in the round. The company is an operator of a food product brand intended to provide sustainable and scalable alternatives to regular foods with identical taste and nutrition.

ArkeaBio: The company raised $26.5 million of Series A venture funding in a deal led by Breakthrough Energy on May 8, 2024, putting the company’s pre-money valuation at $43.5 million. AgriZeroNZ, Rabo Ventures, Overview Capital, The51 Food and AgTech Fund, The Grantham Foundation, and other undisclosed investors also participated in the round. The company is a developer of a vaccine technology designed to reduce greenhouse gas emissions from livestock.

Proper Good: The company raised $12 million of venture funding in a deal led by Artisan Group and YETI Capital on May 8, 2024. Starfund, AG Collective Capital, MJR Ventures, and Doug Bouton also participated in the round. The company is a provider of shelf stable meals that are keto, gluten-free, plant-based, zero sugar and made with clean ingredients.

Roadhouse Brewing Co.: The company raised $8.7 million of venture funding from undisclosed investors on May 6, 2024. The company is a developer of a chain of craft brewery restaurants.

Chip City Cookies: The company raised $7.5 million of Series B venture funding from Enlightened Hospitality Investments on May 8, 2024. The company is an operator of a New York Based bakery chain.

Carbon Robotics: The company raised $6 million of Series C venture funding from NVentures and other undisclosed investors on May 7, 2024, putting the company’s pre-money valuation at $163 million. The company is a developer of a robotics technology designed for weed elimination.

Doughlicious: The company raised GBP 3.5 million of venture funding from Triple B on May 7, 2024. The company is a producer of gluten free cookie dough.

Kudo: The company raised $4 million of venture funding from undisclosed investors on May 6, 2024. The company is a provider of protein-based snack products.

Foodnerd: The company raised $2.9 million of venture funding from undisclosed investors on May 8, 2024. The company is a producer of plant-based breakfast products.

Hoope: The company raised EUR 1 million of venture funding from Capitole Angels, Provence Business Angels, and other undisclosed investors on May 6, 2024. The company is a producer of organic and natural food products.

Shinju Japanese Whisky: The company raised an undisclosed amount of venture funding from Pronghorn on May 9, 2024. The company is a producer of Japanese whisky made from water from Mount Fuji.

Ashland Global Holdings / Turnspire Capital Partners: Turnspire Capital Partners reached a definitive agreement to acquire the business unit of Ashland Global Holdings through an LBO on May 7, 2024 for an undisclosed amount. The company is a producer of nutraceutical food products based in Wilmington, Delaware.

Candy Club / Scalare Partners: The company reached a definitive agreement to be acquired by Scalare Partners on an undisclosed date. Candy Club Holdings Ltd is an operator of an online candy store.

Glendale Foods / Shallan Group: The company was acquired by Shallan Group for an undisclosed amount on May 7, 2024. The company is a provider and supplier of cooked food products for food service distribution.

Klement Sausage / Amylu Foods: The company, a subsidiary of Tall Tree Foods, was acquired by Amylu Foods for an undisclosed amount on May 7, 2024. The company is a producer of sausages for the fast food sector.

Lucky Spoon Bakery / Rubicon Bakers: The company was acquired by Rubicon Bakers, via its financial sponsor Trive Capital, through an LBO on May 7, 2024 for an undisclosed amount. The company is a producer of gluten-free baked goods based in Salt Lake City, Utah.

Blue Sky Vitamin / OneroRX: The company was acquired by OneroRX for an undisclosed amount on May 9, 2024. The company is an operator of an internet retail platform for vitamins and supplements based in Fridley, Minnesota.

Mindful Brewing Company / Galley Group: The company was acquired by Galley Group, via its financial sponsor Cornwall Capital Management, through an LBO on May 10, 2024 for an undisclosed amount. The company is an operator of a brewery and bar.

Sound / Next in Natural: The company was acquired by Next in Natural for an undisclosed amount on May 7, 2024. The company is a producer of tea and sparkling beverages.

Triani / Prime Drink Group: The company was acquired by Prime Drink Group for an undisclosed amount on May 8, 2024. The company is a producer of alcoholic and non-alcoholic beverages.

Trinity Flavors / Appalachian Brewing Co.: The company was acquired by Appalachian Brewing Co. for an undisclosed amount on May 7, 2024. The company is a producer of RTD cocktails based in Philadelphia, Pennsylvania.

Wicked Kitchen / Ahimsa Foundation: The company was acquired by Ahimsa Foundation for an undisclosed amount on May 8, 2024. The company is a producer of plant-based meat products.

Hillco Poeliersbedrijf / Anders Invest: The company was acquired by Anders Invest through an LBO on May 10, 2024 for an undisclosed amount. The company is a provider of wholesale meat and poultry.

Kunzler & Company / Clemens Food Group: The company was acquired by Clemens Food Group for an undisclosed amount on May 7, 2024. The company is a producer and supplier of meat products.

Sea Smoke / Constellation Brands: The company reached a definitive agreement to be acquired by Constellation Brands for an undisclosed amount on May 8, 2024. The company is an operator of a vineyard and is a producer of pinot noir and chardonnay based in Lompoc, California.

Correction:
Farmer Direct Foods:  The company has not been sold, as reported last week.  The Company is an active investment of Bomar Holdings, and neither Farmer Direct Foods nor Bomar Holdings have gone out of business, as reported last week.