Yogurt and beverage producer Chobani announced today that it has filed a registration statement with the Securities and Exchange Commission (SEC) for a potential Initial Public Offering (IPO). The company did not detail a proposed valuation, a potential stock price or a timeline for an IPO. The valuation could be in excess of $10 billion, according to a Reuters report.
Last week private equity fund WM Partners acquired the performance nutrition brand from previous owner Danone. The deal is part of the firm’s strategy to acquire synergistic brands and then “build operational excellence” in order to better position them for sale to a strategic buyer.
Today yogurt and dairy conglomerate Danone announced it had sold plant-based nutrition company Vega to private equity firm WM Partners. Terms of the deal were not disclosed.
Online retailer Boxed announced this week that it would become a publicly traded company via a merger with SPAC Seven Oaks Acquisition Corp. The proposed deal values Boxed at roughly $900 million, Seven Oaks said in a presentation to investors today, and will leave Boxed with $334 million in cash to invest back into the company.
Faire, an online marketplace for retailers and brands, announced yesterday that it had closed an additional $260 million in funding. The platform, which helps retailers connect with and place wholesale orders from emerging brands, recently expanded to Europe as well. #url#
New Barn has sold its assets to egg producer NestFresh in a move designed to offer retailers and consumers a larger suite of fresh items.
Late last week Boston-based pickle brand Grillo’s revealed it had been sold to family-owned bakery business King’s Hawaiian earlier this year. While pickles and bread are often sandwiched together, the brand will largely be speeding ahead on its own, according to Grillo’s executives.
Yesterday CPG conglomerate Unilever announced it would acquire Onnit, a producer of food, beverage and supplement products designed for fitness-focused consumers. Terms of the deal were not disclosed but Unilever stated the brand will maintain its Austin headquarters and continue to be led by CEO Jason Havey.
Breakout Boston-based pickle brand Grillo’s Pickles has been sold to bakery company King’s Hawaiian in a deal that closed earlier this year. While exact terms of the deal were not disclosed, the Boston Business Journal reported that the company will remain in Boston, albeit with changes to the leadership team: CEO and founder Travis Grillo has left the company.
Former juice brand Forager Project this week announced it would launch plant-based ice cream — the next step in the company’s goal to become a plant-based “creamery.” The ice cream will debut in five flavors: Vanilla Bean, Bittersweet Chocolate, Cookies and Cream, Salted Caramel and Mint Chip, the line will be available nationwide this Spring.
Last week condiment and beverage brand Acid League announced it had closed $4.75 million in funding — capital the brand says will help it expand its omnichannel sales and marketing strategy as well as continue the company’s push into new categories.
With the launch of the working group Band of Brands, Quinn Snacks founder and CEO Kristy Lewis hopes she can ease some of the burden of implementing of environmentally friendly measures and help food and beverage companies have a bigger impact on the supply chain.
With plans to trade on the New York Stock Exchange (NYSE), Siddhi Acquisition Corp. will seek to raise up to $200 million in an initial public offering (IPO), for a market value of $250 million.
The company has spent the last two years retooling The Hive, its latest emerging brands division. Now Hilo, the first brand to emerge from the incubator, is ready to spread its wings, moving into brick and mortar retail and, this week, launching new products.