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    Food & Agriculture Q2 2022

    Q2 2022 Food Agriculture

    Largest Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Tivity Health, Inc.
    • Stone Point Capital LLC
    • $2,058.47
    • Valley Proteins, Inc.
    • Darling Ingredients Inc.
    • $1,100.00
    • Hometown International, Inc.
    • Hometown International, Inc.
    • $420.00
    • Dippin' Dots, LLC
    • J&J Snack Foods Corp.
    • $222.00
    • NuLeaf, Inc.
    • Jushi Holdings Inc.
    • $53.63
    • Assets of InHarvest, Inc.
    • Riviana Foods Inc.
    • $48.75
    • Manufacturing facility of Evans Food Group in Kings Mountain
    • Utz Quality Foods, LLC
    • $39.70
    • Herbal Remedies Dispensaries, LLC
    • Ayr Wellness Inc.
    • $30.00
    • Substantially All Assets of Urban Health & Wellness, Inc
    • Medicine Man Technologies, Inc.
    • $3.22
    • 166-acre corn and soybean Illinois farm
    • Farmland Partners Inc.
    • $2.40

    Other Financial Buyer Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Austin Cocktails Investments, LLC
    • Constellation Brands Ventures
    • n/a
    • DBW Holdings, LLC
    • Primal Pet Foods, Inc.
    • n/a
    • Sanders Candy, LLC
    • CapVest Partners LLP
    • n/a
    • Tony’s Fresh Market, Inc.
    • Apollo Global Management, Inc.
    • n/a

    Other Strategic Buyer Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Indoor Assets Of HSCP, LLC
    • Grown Rogue Distribution, LLC
    • $2.00
    • Bagger Dave's Burger Tavern, Inc.
    • BT Brands, Inc.
    • $1.26
    • Southern Ice Cream Corporation
    • GlacierPoint Enterprises, Inc.
    • n/a
    • Pet Factory, Inc.
    • Worldwise, Inc.
    • n/a
    • Pacific Ocean Marketplace, Inc.
    • GW Supermarket, Inc.
    • n/a
    • DBW Holdings, LLC
    • Primal Pet Foods, Inc.
    • n/a
    • Premium Nutritional Products, Inc.
    • Manna Pro Products, LLC
    • n/a
    • ALexander Valley Gourmet, LLC
    • Cleveland Kitchen Co.
    • n/a
    • Orgain, Inc.
    • Nestlé Health Science S.A.
    • n/a

     

    Source S&P Capital IQ as of 7/11/2022 and PCE Proprietary Data

    PCE Transactions

    eBook- Keys to Selling Your Packaged Food & Beverage Company

    Contacts

    eBook- Keys to Selling Your Agriculture Business

     

    Michael Poole

    Orlando Office

    407-621-2112

    David Jasmund

    Orlando Office

    407-621-2111

    Data Assumptions

    This report represents transaction activity as mergers & acquisitions, consolidations, restructurings and spin-offs. Targets are defined as U.S. Based companies with either foreign or U.S. based buyers. Transaction information provided is based on closed dates only.

    Glossary

    EBIT - Earnings Before Interest and Taxes
    EBITDA - Earnings Before Interest, Taxes, Depreciation, Amortization
    LTM - Last Twelve Months
    TEV - Total Enterprise Value

    Sources:

    1. Lucas, Amelia. “Kellogg to separate into three companies focusing on snacks, cereal and plant-based foods.” CNBC, 21 June, 2022.
    2. Maloney, Jennifer. "U.S. Crackdown on Juul and Smoking: What to Know" WSJ, 24 June, 2022.
    3. Kang, Jaewon. "Inflation-Weary Consumers Shift Shopping Habits, Kroger Says" WSJ, 16 June, 2022.
    4. "Kroger Registers $44.6bn in sales for first quarter of FY22" Retail Insight Network, 17 June, 2022.
    5. Thomas, Patrick, "USDA Proposes New Rules Aimed at Curbing Meatpackers’ Power" WSJ, 26 May, 2022.
    6. "Food Price Outlook", U.S. Department of Agriculuture, 24 June, 2022.
    7. "Changes in Consumer Price Indexes for food", U.S. Department of Agriculuture, 24 June, 2022.

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