Consumer Private Placement and M&A Transactions Review Week Ending September 15, 2024

Formo: The company raised $61 million of Series B venture funding from M Ventures, Happiness Capital and Foodlabs on September 9, 2024. REWE Group, SevenVentures, Grazia Equity, Lowercarbon Capital, EQT Ventures, Elevat3 Capital, Indiposa Investments, The Nature Conservancy, Woodline Partners and Sazaby League also participated in the round. The company uses micro fermentation of naturally occurring cultures to produce cheese alternatives that are free from lactose, hormones, gluten, preservatives, and additives.

Recover 180: The company raised $51.4 million of venture funding from Accretion Capital and Dhuna Ventures on September 12, 2024. The company is a producer of an Organic sports hydration drink intended for athletes to improve performance and recovery before, during and after training.

Standing Ovation: The company raised EUR 3.75 million as an extension of its Series A venture funding round in a deal led by Astanor Ventures on September 13, 2024. Groupe Bel, Good Startup, Seventure Partners, Big Idea Ventures and PeakBridge also participated in the round. The company is a producer of precision fermentation-based casein protein for dairy applications, targeting the needs of vegan and lactose intolerant consumers.

Plant-Ex Ingredients: The company received GBP 9 million of development capital from BGF on September 11, 2024. The company is a producer of natural plant-derived flavour, colour, and extract ingredients for the food and beverage industry worldwide.

Moth Drinks: The company raised EUR 4.6 million of venture funding in a deal led by Beringea on September 9, 2024. The company is a producer of ready-to-drink canned alcoholic cocktail beverages.

Lil Bucks: The company raised $3 million of Series A venture funding in a deal led by Proterra Investment Partners on September 10, 2024. The company is a producer of snacks made from buckwheat and flavored seeds intended to provide an alternative to granola.

Opopop: The company raised $2 million of venture funding from undisclosed investors on September 11, 2024. The company is a producer of premium popping corn.

El Guapo: The company raised $1.7 million of venture funding from The Angel Roundtable on September 12, 2024. The company is a producer of artisan syrups and bitters for cocktail beverages.

Mama Lycha Foods: The company received an undisclosed amount of development capital from Rotunda Capital Partners and the Padilla family on September 10, 2024. The company is an importer and distributor of authentic Latin American food products in the United States.

Sperri: The company raised an undisclosed amount of venture funding in a deal led by Nàdarra Ventures on September 10, 2024. Invest Nova Scotia and other undisclosed investors also participated in the round. The company is a developer of a plant-based meal replacement beverage that is free of gluten, dairy, preservatives and artificial ingredients.

Perigon Beverage Group / Diamond Estates Wines & Spirits: The company reached a definitive agreement to be acquired by Diamond Estates Wines & Spirits for $1.75 million on September 12, 2024. The company is a retailer of alcoholic beverages based in Etobicoke, Canada.

Barons Winery / Capital Call Vintners: The company was acquired by Capital Call Vintners for an undisclosed amount on September 13, 2024. The company is a manufacturer of premium wines from Washington state vineyards, specializing in classic red and white grape varietals of Bordeaux.

Bloomfield / Kubota: The company was acquired by Kubota for an undisclosed amount on September 11, 2024. The company is an opeartor of a digital platform intended for breeders, growers, and scientists to study plants more efficiently and effectively.

Crepini Foods / Cal-Maine Foods: The company was formed as a joint venture between Crepini and Cal-Maine Foods on September 9, 2024. Cal-Maine Foods will capitalize Crepini with approximately $6.75 million in cash to purchase additional equipment and other assets and fund working capital in exchange for a 51% interest in the new venture. Crepini LLC will contribute its existing assets and business in exchange for a 49% interest in the new venture. Crepini Foods is located in Hopewell Junction, New York.

Furniss Of Cornwall / Prima Bakeries: The company, a subsidiary of Proper Cornish was acquired by Prima Bakeries for an undisclosed amount on September 11, 2024. The company is a producer and retailer of baked goods based in Cornwall, England.

General Mills Yogurt Business / Lactalis and Sodiaal: General Mills entered into a definitive agreement to sell its North American yogurt business to French dairy companies Lactalis and Sodiaal in cash transactions valued at an aggregate $2.1 billion on September 12, 2024. Lactalis will acquire the U.S. operation and Sodiaal the Canadian business, via its financial sponsors IDIA Capital Investissement and Sofiproteol. The deals are expected to close in 2025.

Lombardi’s Prime Meats / Individual Investor: The company was acquired by Mr. Rob Passio for an undisclosed amount on September 10, 2024. The company is a producer of meat and poultry foods based in Philadelphia, Pennsylvania.

Louis Garneau USA / Lolë: The company was acquired by Lolë for an undisclosed amount on September 13, 2024. The company is a designer and manufacturer of performance cycling apparel.

Mash Gang / DioniLife: The company was acquired by DioniLife, via its financial sponsor The Invus Group, through an LBO on September 10, 2024 for an undisclosed amount. The company is a producer of non-alcoholic beer based in London, United Kingdom.

Monty’s Brewery / Ubuntu Holdings: The company was acquired by Ubuntu Holdings for an undisclosed amount on September 10, 2024. The company is a producer of beer beverages based in Powys, United Kingdom.

Reliance Private Label Supplements / Impetus Wellness Group: The company, a subsidiary of Branch Brook Holdings, was acquired by Impetus Wellness Group, via its financial sponsor AEA Investors, through an LBO on September 13, 2024 for an undisclosed amount. The company is a provider and manufacturer of plant-based protein and meal replacement powders and beverages as well as vitamins for private-label products.

Sir Edmond Gin / Sar Liquors: The company was acquired by Sar Liquors for an undisclosed amount on September 10, 2024. The company is a producer of infused gin alcoholic beverages based in Amsterdam, Netherlands.