M&A

Starting a company is a bit like having a child. Months of gestation, a lot of painful tooth-gnashing to get it out into the world, and then nights of sleeplessness hoping you’re doing everything right. Milkmakers and Anchor Bar Two (two brands that are still in their youth, and coincidentally catering largely to the mommy market) recently announced that they’ve moved on to the next phase of their development via acquisition.

In 2002 Phil Anson founded what would become EVOL Foods and quickly turned it into a leading multi-category frozen foods brand. In 2013 Anson sold the brand to Boulder Brands, which in turn was acquired by Pinnacle Foods in 2015. Anson remained with Boulder Brands until this summer. Just a few weeks into his “retirement” from the brand, Anson spoke to Project NOSH about his time with the company and what’s next for his career.

The past year has been busy for contract manufacturer Ideal Snacks and PopCorners producer Medora Snacks. In July 2015, the two brands, were acquired by global private equity firm Permira and consolidated under the moniker Better For You (BFY) Brands. Now the company, under CEO Paul Nardone, is unveiling a new, global, consumer-facing identity. The brand, Our Little Rebellion, will house five year-old PopCorners (a line of popped corn chips) along with two other brands.

Last week natural products distributor United Natural Foods Inc. (UNFI) announced the acquisition of Gourmet Guru, a natural and organic food distributor and merchandiser serving the Northeast. Project NOSH spoke with Gourmet Guru CEO Jeff Lichtenstein about the sale, why it was the right time, and what the future looks like

The deal will nearly double the size of Danone’s North America footprint, increasing it from 12 to 22 percent of the company’s total portfolio and align it with several fast-growing brands focused on healthy and sustainable lifestyles.

Demonstrating the ongoing interest in next-generation food brands, CPG giant Hormel today announced the acquisition of natural nut butter and snack maker Justin’s for $286 million. Justin Gold, Founder of Justin’s, told Project NOSH that the brand admires Hormel’s success and looks forward to learning from the larger company.

Yesterday may have been May Day, but rather than celebrating the start of Spring, several CPG groups were celebrating an influx of cash. No sooner had we hit our collective seats this morning than a few million dollars had flowed out of investors’ wallets and into entrepreneurial coffers.

Last week, Acosta, one of the largest grocery brokers in the world, announced that it had acquired Ignite Sales & Marketing, following a sales process run by Whipstitch capital. The purchase brings a high-touch set of account managers who foster the growth of mid-sized businesses into a brokerage and sales strategy firm that deals with the largest companies in the world.

Yesterday private equity firm KarpReilly’s acquired food and beverage company Zola. A brand pivot in 2012 enabled growth, noted CEO Chris Cuvelier.

Today consumer foods giant General Mills announced that it has acquired upstart meat snack company EPIC Provisions. The brand will operate under General Mills-owned Annie’s Organics. Both Taylor Collins, Epic’s co-founder, and John Haugen, General Mills’ VP & General Manager of 301 Inc, spoke with NOSH about the acquisition.