2016

The following is a summary of the major acquisitions that occurred in the food and beverage industry in 2016.

Legend

• Date: The date the buyer acquired the target or brand, as reported in public sources.
• Price: The price paid for the company being acquired.
• Buyer: The company that acquired the target or brand.
• Target: The company or brand that was acquired. For example, if Ford Motor Company acquired Audi, Ford Motor Company is the buyer, Volkswagen is the seller, and the target is Audi.
• Location: The location of the target (i.e., the company or brand that was acquired).
• Seller: The company that owned the target company or brand that was acquired. For example, if Volkswagen sold Audi, Volkswagen is the seller, and the target is Audi.
• Purpose: The primary reason the buyer acquired the target or brand.
• Details: Specific details regarding the transaction, such as the form of consideration (e.g., cash, stock, notes, etc.) and/or any contingent payments (e.g., earnouts, etc.).

Food Manufacturing – General

Danone Acquired WhiteWave Foods (Plant-Based Foods and Beverages)

Date:	July 7, 2016
Price:	$12.5 Billion
Buyer:	Danone – Danone S.A. is a French multinational food product corporation headquartered in Paris and founded in Barcelona, Spain. In the U.S., some of the company’s products are branded as Dannon, Stonyfield Farm, and Yocrunch.
Target:	WhiteWave Foods – A consumer packaged food and beverage company with headquarters in White Plains, New York, that manufactures, markets, and distributes premium branded plant-based foods and beverages, organic produce, dairy products, and coffee creamers, and across Europe and North America.
Location:	Colorado, USA
Purpose:	Colorado, USA Purpose: “Danone and WhiteWave are a perfect match to build a global leader leveraging consumer trends and expectations for healthier and more sustainable eating and drinking choices,” said Emmanuel Faber, CEO of Danone.
Details:	The two companies combined their North American businesses to operate under DanoneWave. Lorna Davis was appointed CEO of the unit.

Simply Unique Foods Acquired Wild Joe’s Beef Jerky (Handcrafted Beef Jerky)

Date:	December 28, 2016
Price:	Undisclosed Amount
Buyer:	Simply Unique Foods – Primarily operates in the snack sector, including beef jerky, with facilities in Ohio, Pennsylvania, Kentucky, and Texas.
Target:	Wild Joe’s Beef Jerky – Based in Cincinnati, Ohio, a producer of hand-crafted, all-natural gourmet beef jerky.
Location:	Ohio, USA
Details:	The financial terms of the purchase were not disclosed. Joe Lachenman, Wild Joe’s founder, will continue to be involved in the company, and Simply Unique Foods will continue to use his original recipes.

Munchkin Acquired Milkmakers (Lactation Cookies and Teas)

Date:	August 23, 2016
Price:	Undisclosed Amount
Buyer:	Munchkin, Inc. – The world’s largest baby lifestyle brand.
Target:	Milkmakers, LLC – The top lactation tea and cookie manufacturer supporting breastfeeding moms.
Location:	Seattle, Washington, USA
Purpose:	The acquisition brings Milkmakers’ strong portfolio, including teas and cookies, which lactation consultants recommend, into Munchkin’s innovative feeding and breastfeeding portfolio, including products like Munchkin’s award-winning Latch bottle, breast-pump cleaning accessories, and nursing pads.
Details:	Munchkin, Inc. was represented by its in-house counsel, Petty Rader, and its corporate attorney, Jeffery Hermanson, at WilmerHale. Milkmakers, LLC was represented by its corporate attorney, John Baier, at Baier Law Firm, PLLC.

Keystone Capital Acquired Nature Soy (Soy and Vegetarian Products)

Date:	June 17, 2016
Price:	Undisclosed Amount
Buyer:	Keystone Capital – A private investment firm comprised of professionals with strong investment experience and substantive operating knowledge.
Target:	Nature Soy – A manufacturer of soy and vegetarian products, including soy milk, specialty tofu, rice noodles, and soy puffs.
Location:	Pennsylvania, USA
Purpose:	“We are excited to partner with the Nature Soy team to continue building on their tradition of excellence in the soy foods market,” commented Chaoran Jin, Principal at Keystone Capital. He added, “With management’s continued leadership and our operational and financial support, we will achieve our collective vision of developing Nature Soy into a leading national supplier of soy products and other authentic ethnic foods through organic expansion and targeted acquisitions.”
Details:	As part of the transaction, the co-owners of Nature Soy will continue in the day-to-day operations and management of the business.

United Natural Foods Acquired Haddon House Food (Organic Ethnic and Kosher Foods)

Date:	May 16, 2016
Price:	$217.5 Million
Buyer:	United Natural Food – A Providence, Rhode Island-based natural and organic food company.
Target:	Haddon House Food – The largest privately owned distributor, importer, and exporter of specialty, organic, natural, ethnic, and kosher foods.
Location:	New Jersey, USA
Purpose:	“The acquisition positions United Natural Foods to broaden its line of gourmet and ethnic products,” said CEO Steven Spinner. He continued, “The deal also gives Haddon the chance to expand its reach beyond the Eastern United States, where it primarily distributes.”
Details:	Haddon House Food Products, Inc. was advised by Wells Fargo Securities, LLC.

Hershey Acquired BarkTHINS (Snacks and Chocolates)

Date:	April 26, 2016
Price:	Undisclosed Amount
Buyer:	Hershey Company – An American multinational company that is one of the biggest chocolate manufacturers in the world.
Target:	BarkTHINS – Founded in 2013 and owned by Ripple Brand Collective, based in Congers, New York.
Location:	New York, USA
Seller:	Ripple Brand Collective, LLC – A producer of snacks and chocolates under the brand name, BarkTHINS.
Purpose:	“This acquisition is a great addition to our Hershey chocolate portfolio and enables us to expand our mass premium offerings into this growing and on-trend category,” said Michele G. Buck, President, North America, The Hershey Company.
Details:	The terms of the deal were not disclosed.

Archer Daniels Midland Acquired Harvest Innovations (Soy and Gluten-Free Foods)

Date:	March 31, 2016
Price:	Undisclosed Amount
Buyer:	Archer Daniels Midland Company (ADM) – An American multinational commodities trading and food processing corporation founded in 1902 and based in Chicago, Illinois.
Target:	Harvest Innovations – A company that specializes in minimally processed, expeller-pressed soy proteins, gluten-free ingredients, and oils.
Location:	Iowa, USA
Purpose:	“More and more consumers are looking for foods that are gluten-free, that aren’t genetically modified, and that are healthy and organic, and ADM is perfectly positioned to meet those needs,” said Vince Macciocchi, president of ADM’s WILD Flavors and Specialty Ingredients business unit.
Details:	ADM anticipates the transaction’s closing will be subject to regulatory approval.

Pulmuone Foods Acquired Nasoya Food (Organic Soy and Tofu)

Date:	March 23, 2016
Price:	Undisclosed Amount
Buyer:	Pulmuone Foods – Processes, manufactures, and markets natural health food products.
Target:	Nasoya Food – A leader in globally inspired soy foods and tofu, a simple plant-based protein.
Location:	Massachusetts, USA
Seller:	Vitasoy USA, Inc. – Produces tofu and soymilk-based food products.
Purpose:	The transaction solidified Pulmuone’s position as the world’s leading tofu company with a strong foothold within the global tofu markets of Korea, the U.S., Japan, and China.
Details:	Financial terms were not disclosed.

Food Manufacturing – Snacks

Gores Acquired Hostess Brands (Snack Cakes and Donuts)

Date:	July 5, 2016
Price:	$2.3 Billion
Buyer:	Gores Group – A private equity firm that acquires and partners with growing and mature businesses.
Target:	Hostess Brands – An American bakery founded in 1919 when they introduced the Hostess CupCake to the public, then Twinkies in 1930. Hostess produces snack cakes under the Hostess and Dolly Madison brands in the U.S., and its Canadian subsidiary, Voortman Cookies Limited, produces cookies and wafers under the Voortman brand.
Location:	Kansas, USA
Purpose:	Alec Gores, Chairman, and CEO of The Gores Group, said, “This is a compelling alignment of interests. It signals confidence from premium investors in the consumer space.”
Details:	According to the transaction terms, the Hostess owners, funds managed by affiliates of Apollo Global Management, L.L.C., and C. Dean Metropoulos and family will receive roughly $522 million cash.

Hormel Foods Acquired Justin’s (Organic Nut Butter)

Date:	May 18, 2016
Price:	$155 Million
Buyer:	Hormel Foods – A U.S. food processing company founded in Austin, Minnesota, in 1891, by George A. Hormel as George A. Hormel & Company.
Target:	Justin’s, LLC – An American brand of organic and natural peanut butter cups and nut butter.
Location:	Colorado, USA
Purpose:	“I am pleased to welcome Justin’s into the Hormel Foods family,” said James P. Snee, president, and chief operating officer of Hormel Foods. He added, “We are excited to work together with Justin’s team to bring these great products to even more consumers, leveraging key Hormel Foods resources to drive continued innovation and growth to this on-trend category.”
Details:	Justin’s will operate out of their office in Boulder, Colorado, as a subsidiary of the company’s grocery products segment. HT Capital Advisors served as advisors to Hormel Foods. Justin’s was advised exclusively by Piper Jaffray & Co.

Utz Quality Foods Acquired Golden Enterprises (Potato Snacks and Pork Skin)

Date:	July 19, 2016
Price:	$133 Million
Buyer:	Utz Quality Foods – A large American snack food company based in Hanover, Pennsylvania.
Target:	Golden Enterprises Inc. – A small publicly traded snack food company in the Southern United States.
Location:	Alabama, USA
Purpose:	“This merger will allow the Golden Flake brand to continue to grow in our core southeastern markets while expanding the product selections for our consumers,” said Mark McCutcheon, chief executive officer of Golden Enterprises, Inc., “Utz is a very community-oriented company, and we look forward to the future that Utz and Golden Flake will create together.”
Details:	Utz Quality Foods, LLC completed the $146 million acquisition of Golden Enterprises, Inc.

Nassau Candy Acquired Classic Snacks (Snacks and Mixed Nuts)

Date:	November 3, 2016
Price:	Undisclosed Amount
Buyer:	Nassau Candy – A leading specialty confectionery and natural and gourmet food manufacturer, importer, and distributor.
Target:	Classic Snacks – Producers of assorted snacks and mixed nuts.
Location:	New York, USA
Purpose:	“The deal unites Nassau Candy’s leading assortment and capabilities with a tremendous brand in Classic Snacks and its sales presence in the alternative foodservice markets, which we are excited to build upon,” said Randy Goldbaum, Nassau Candy’s vice president of confectionery sales.
Details:	Nassau combined Classic Snack’s operations with their manufacturing, distribution, and sales channels into the food service segment.

Ferris Coffee and Nut Acquired Lush Gourmet Foods (All Natural Nut Producers)

Date:	October 25, 2016
Price:	Undisclosed Amount
Buyer:	Ferris Coffee and Nut Co. – A leading Michigan coffee and nut roaster.
Target:	Lush Gourmet Foods – An all-natural, handcrafted premium nut company
Location:	Michigan, USA
Purpose:	“We were immediately drawn to Bisera’s (Lush Gourmet Food) passion and spirit of entrepreneurship. Her creativity and work ethic make her a natural fit on our team,” said Zach Malin, Ferris’ Business Unit Manager of Nuts and Snacking. He continued, “We view this as an investment into her and her brand and are excited to offer Lush the ability to expand through our added resources and experience.”
Details:	Ferris Coffee & Nut Company acquired Lush Gourmet Foods to its product portfolio. The terms of the deal were confidential.

Nassau Candy Acquired AmuseMints Sweets & Snacks (Mint Candies and Snacks)

Date:	July 13, 2016
Price:	Undisclosed Amount
Buyer:	Nassau Candy – A Hicksville, N.Y.-based manufacturer, importer, and distributor of branded and private-label specialty confections and fine foods
Target:	AmuseMints Sweets & Snacks – A mint manufacturer in the souvenir, specialty retail, and gifting industries.
Location:	Colorado, USA
Purpose:	Nassau Candy said its goal in joining with AmuseMints is to build a one-stop shop of confectionery and snack products for the souvenir industry.

Kashi Acquired Pure of Holland (Healthy Snack Foods)

Date:	June 16, 2016
Price:	Undisclosed Amount
Buyer:	Kashi Food Company – Produces whole grain cereals and other plant-based foods they source from regular farming practices.
Target:	Pure of Holland – Maker of healthy snack foods.
Location:	Michigan, USA
Purpose:	“I feel extremely excited about working with the Kashi team to continue to grow the Pure brand,” Founder Veronica Lehman said. She added, “I have always wanted to reach more people and improve more lives through nutritious organic foods.”
Details:	Veronica Lehman, Founder of Pure of Holland, will continue to work and volunteer in Holland after the Pure Organic headquarters move to Solana Beach, Calif.

Amplify Snack Brands Acquired Boundless Nutrition (Nutritional Snack Bars)

Date:	May 2, 2016
Price:	Undisclosed Amount
Buyer:	Amplify Snack Brands – A part of The Hershey Company, Amplify is a fast-growing Better For You (BFY) snack brand headquartered in Austin, Texas.
Target:	Boundless Nutrition – A rapidly growing better-for-you (BFY) snack food company based in Austin, Texas.
Location:	New York, USA
Purpose:	“We are excited to enhance our existing brand portfolio with the addition of the Boundless Nutrition portfolio,” said Tom Ennis, president, and chief executive officer of Amplify.
Details:	The financial terms of the transaction were undisclosed.

Alcoholic Beverages

Constellation Brands Acquired High West Distillery (Craft Whisky Producers)

Date:	October 5, 2016
Price:	$160 Million
Buyer:	Constellation Brands – An American marketer and producer of wine, beer, and spirits. Constellation is the largest beer importer in the U.S., measured by sales, with the third-largest market share of all major beer suppliers.
Target:	High West Distillery – A distilled spirits manufacturer in Park City, Utah. It was the first legally licensed distillery in Utah since the end of Prohibition.
Location:	Utah, USA
Purpose:	The acquisition of High West Distillery – Utah’s first distillery since 1870 – bolsters Constellation’s strategy to increase its premium focus in the U.S. while at the same time enabling the firm to enter the fast-growing Bourbon and rye categories.
Details:	The acquisition included all of High West’s operations and its portfolio of award-winning, distinctive, and high-end American straight whiskeys.

Agrial Acquired Seattle Cider and Two Beers (Cider and Beer Producer)

Date:	September 27, 2016
Price:	Undisclosed Amount
Buyer:	Agrial Group – A prominent French agricultural and food-processing cooperative group.
Target:	Seattle Cider and Two Beers – Cider and beer producers.
Location:	Seattle, USA
Purpose:	Joel VandenBrink, founder of the two Seattle-based companies, said, “As Two Beers Brewing Company enters its tenth year and Seattle Cider enters its fourth year, it became clear that my desires for both companies far exceeded our ability to grow them sustainably – something I have always held as a high priority. I want nothing less than Two Beers Brewing Company and Seattle Cider Company to be premier companies in their fields and have the continuous ability to keep up with the ever-changing demands of a very crowded industry.”
Details:	The financial terms of the agreement were undisclosed.

Anheuser-Busch InBev Acquired Boathouse Beverage (Alcoholic Seltzer Manufacturer)

Date:	September 9, 2016
Price:	Undisclosed Amount
Buyer:	Anheuser-Busch InBev – A multinational brewing company.
Target:	Boathouse Beverage – Doing business as SpikedSeltzer, a distributor of alcoholic beverages.
Location:	Connecticut, USA
Purpose:	The acquisition highlights the pressure on AB InBev and other brewers to expand beyond beer, which has been losing shares of the total U.S. alcohol market to liquor and wine over the past 15 years.
Details:	The financial terms of the deal announced weren’t available. This acquistion was Anheuser-Busch InBev’s 15th transaction in the beverages sector.

Hispanica International Delights Acquired Energy Source Distribution (Drinks and Beers)

Date:	July 8, 2016
Price:	Undisclosed Amount
Buyer:	Hispanica International Delights (HISP) – A public company founded in 2013. HISP is engaged in the distribution of proprietary, licensed, and third-party Hispanic and ethnic food and beverages throughout the United States.
Target:	Energy Source Distribution – A direct store beverage distributor in the San Jose and Northern California Region. ESD generated nearly $3 million in revenues in 2015 and is a strong player in the energy drink, iced tea, lemonade, water, and craft beer segments, which have been the leading growth drivers for this successful distribution business.
Location:	California, USA
Purpose:	“This is the first acquisition of many we are currently evaluating. The speed in closing this acquisition just days after announcing the signing of our $7.5M credit facility is a testament to the swift execution of our business plan we have outlined to the investment community,” stated Fernando Oswaldo Leonzo, chairman and CEO of Hispanica International Delights of America, Inc.
Details:	HISP is headquartered in New York State, with distribution operations underway in the New York City tri-state region, the Washington, D.C. metro area, the Houston metro area, Los Angeles, and the southern California region.

Non-Alcoholic Beverages

Dr. Pepper Snapple Group Acquired Bai Brands (Premium Flavored Water)

Date:	December 22, 2016
Price:	$1.7 Billion
Buyer:	Dr. Pepper Snapple Group – A top manufacturer of flavored beverages in North America and the Caribbean.
Target:	Bai Brands LLC – A producer of carbonated flavored water, enhanced water, coconut water, and premium ready-to-drink teas.
Location:	New Jersey, USA
Purpose:	“The Bai team has fostered a passionate, winning culture while hitting the bull’s eye in meeting consumers’ needs for better-for-you beverages,” said Larry Young, DPS president and CEO. He added, “Now that they’re part of the DPS family, we’re going to let them continue to fly and build on the entrepreneurial spirit that’s driven their success while providing them access to the full complement of Dr Pepper Snapple’s resources and capabilities.”
Details:	The acquisition for $1.7 billion in cash included a tax benefit of approximately $400 million on a net present value basis.

Cott Corporation Acquired S&D Coffee (Coffee and Tea)

Date:	August 4, 2016
Price:	$405 Million
Buyer:	Cott Corporation – A water and filtration service company in the North American and European home and office delivery sector for bottled water and filtration.
Target:	S&D Coffee & Tea – The largest coffee and tea manufacturer and supplier to convenience stores and restaurants in the U.S.
Location:	North Carolina, USA
Purpose:	“These transactions position us to accelerate top and bottom line growth as well as margin expansion across our business,” said Tom Harrington, Cott’s Chief Executive Officer.
Details:	The acquisition for $405 million was on a debt-free and cash-free basis.

Sun Orchard Acquired Blue Lake Citrus (Citrus Juice Products)

Date:	November 28, 2016
Price:	Undisclosed Amount
Buyer:	Sun Orchard – Began with citrus juices, including lemon, orange, lime, and grapefruit, and then developed an growing portfolio of culinary ingredients and standard and customized beverages.
Target:	Blue Lake Citrus – Produces and markets bulk juice, citrus oils, and other citrus products.
Location:	Florida, USA
Purpose:	“The assets being acquired today present Sun Orchard with an exceptional opportunity to notably escalate its growth,” said Jean-Marc Rotsaert, Executive Chairman of Sun Orchard.
Details:	The assets acquired included the Blue Lake product portfolio.

PepsiCo Acquired KeVita (Probiotic Drinks)

Date:	November 21, 2016
Price:	Undisclosed Amount
Buyer:	PepsiCo – A multinational food, beverage, and snack corporation based in Harrison, New York.
Target:	KeVita – One of the top North American creators of fermented kombucha and probiotic beverages.
Location:	California, USA
Purpose:	PepsiCo said the transaction would help to expand its health and wellness offerings in the premium chilled beverage sector.
Details:	The closing was subject to regulatory approval, and KeVita will continue to operate independently at its bottling and production facilities in Oxnard, California.

Diaz Foods Acquired Origin Food Group’s Frutel Brand (Drinkable Yogurt)

Date:	November 3, 2016
Price:	Undisclosed Amount
Buyer:	Diaz Wholesale & Manufacturing – A privately-owned company and a distributor of specialty foods with distribution in 25 states and over 6,000 customers.
Target:	Frutel Brand – A drinkable yogurt brand by Origin Food Group.
Location:	North Carolina, USA
Seller:	Origin Food Group – A producer of fruit-based drinkable dairy products.
Purpose:	This acquisition will enable Diaz Foods to continue its steady growth through organic and inorganic strategies according to market trends and data.
Details:	Diaz Foods acquired the Frutel brand from Origin Food Group in Statesville, NC. This is the second brand that has been acquired by Diaz Foods in less than two years. Diaz Foods will leverage its 25-state distribution network to grow the demand for Frutel.

Jusu Bars Acquired Cru Juice (Cold-Pressed Juice)

Date:	September 21, 2016
Price:	Undisclosed Amount
Buyer:	Jusu Bars, Inc. – A producer of organic, plant-based food and beverage products. Jusu Bars offers cold-pressed juices, smoothies, milk, hot drinks, and plant-based raw meals and snacks.
Target:	Cru Juice, Inc. – A purveyor of raw cold-pressed juice that promotes the infusion of fresh organic produce into daily living.
Location:	Alberta, Canada
Purpose:	Commenting on the deal, Cru Juice co-founder Naomi Le Bihan said: “We’re proud to have built Cru and positioned the company as a leader in a food movement that is experiencing unprecedented growth. Our goal was to design whole, non-GMO, and preservative-free foods to fuel busy lives.”

United Natural Foods Inc. Acquired Gourmet Guru (Fresh and Organic Foods)

Date:	August 23, 2016
Price:	Undisclosed Amount
Buyer:	United Natural Foods Inc. (UNFI) – Based in Providence, Rhode Island, UNFI is a natural and organic food company.
Target:	Gourmet Guru – Distributes and merchandises organic and fresh foods with a focus on new and emerging brands.
Location:	Victoria, Australia
Purpose:	The acquisition enhanced UNFI’s ability to find and cultivate the latest organic and fresh brands and expanded its presence in key urban markets.
Details:	United Natural Foods, Inc. acquired Gourmet Guru in an all-cash transaction for an undisclosed amount.

Bevolution Acquired Dr. Smoothie Brands (Organic Smoothies)

Date:	July 29, 2016
Price:	Undisclosed Amount
Buyer:	Bevolution – A top provider of hot and cold beverage solutions for the food service industry.
Target:	Dr. Smoothie Brands – Provides simple and delicious on-the-go beverage solutions.
Location:	California, USA
Purpose:	To enhance Bevolution Group’s offerings in the specialty beverage categories.
Details:	Cody Peak Advisors, LLC served as the advisor to Dr. Smoothie Brands.

iBrands Acquired Avita Artesian Water (Alkaline Water Producer)

Date:	July 20, 2016
Price:	Undisclosed Amount
Buyer:	iBrands Corporation, Inc. – A holding company that acquires and operates niche market brands having unique market positions within sectors that demonstrate return on investment potential.
Target:	Avita Beverage Company LLC – A premium natural artesian alkaline water provider.
Location:	California, USA
Purpose:	To complement iBrands’ leading-edge product portfolio and enable a new distribution channel in the high-volume C-Store industry.
Details:	Avita Beverage Company, LLC will continue its operations out of its production facility in Roscommon, Michigan, and its corporate headquarters in Los Angeles, CA, led by the current CEO, Clinton L. Stokes III.

Country Pure Foods Acquired The Ridgefield’s Brand (Fruit Juice Producer)

Date:	June 2, 2016
Price:	$13.8 Million
Buyer:	Country Pure Foods – An American manufacturer of fruit drinks, juices, and plant-based beverages for retail food purveyors and food service operators.
Target:	The Ridgefield’s Brand – A provider of juice and related products. The company offers vegetable and fruit juices, slushies, smoothies, and more under Smooth-Frozen, Ridgefield’s, SideKicks, and Cup Slushies.
Location:	Maryland, USA
Purpose:	Raymond Lee, President, and Co-CEO of Country Pure Foods, stated, “Ridgefield’s product line has shown steady growth, and we believe this will be accelerated by our extensive sales force that will provide rapid expansion into new markets.”
Details:	Country Pure Foods, a portion juice processor, recently announced the purchase of the assets of The Ridgefield’s Brand Corporation, which includes Smooth-Frozen Ridgefield’s SideKicks and Cup Slushies products.

Wholesale & Distribution

Naturalnano Acquired Omni Shrimp (American Shrimp Wholesaler)

Date:	June 23, 2016
Price:	Undisclosed Amount
Buyer:	Naturalnano – A nanomaterials company that develops and markets proprietary technologies and products and provides novel properties to various materials such as industrial polymers, plastics, and composites.
Target:	Omni Shrimp – Operates as a marketer of seafood products in the United States and sells shrimp and related products to distributors.
Location:	Florida, USA
Purpose:	Jim Wemett, outgoing CEO of NaturalNano, stated, “We are very pleased to have acquired Omni Shrimp on behalf of our shareholders. We believe this new direction will be most beneficial for all stakeholders.”
Details:	In consideration for the exchange of OMNI shares, the company issued 28,500 shares of newly created Series E Preferred Stock of the company.

Dairy

Vietnam Dairy Products Acquired Driftwood Dairy (Dairy Product Producers)

Date:	May 24, 2016
Price:	Undisclosed Amount
Buyer:	Vietnam Dairy Products – The largest publicly-held company in Vietnam and one of the largest dairy companies in Asia.
Target:	Driftwood Dairy – One of California’s largest processors of fresh milk, juices, and other dairy products.
Location:	California, USA
Seller:	Marwit Capital Partners
Purpose:	Under the leadership of CEO Partner Mac Berry, who joined the company shortly after the acquisition, the business grew by volumes and revenues of almost 50% over the investment period in a relatively flat overall U.S. dairy market.

Farming and Agriculture

Natural American Foods Acquired Sweet Harvest Foods (Honey and Peanut Producer)

Date:	December 20, 2016
Price:	Undisclosed Amount
Buyer:	Natural American Foods – One of the world’s largest honey producers.
Target:	Sweet Harvest Foods – Since 1923, a leading producer of peanut butter, honey, and syrup products, including the MEL-O and PB Crave brands, selling their products to national food manufacturers, retailers, and grocery chains.
Location:	Minnesota, USA
Purpose:	“We are delighted to combine the Sweet Harvest and Natural American Foods businesses, further expanding the company’s capabilities and reach,” said Robert Strauss, director of Natural American Foods and a managing director of Peak Rock Capital.
Details:	The acquisition brought two leading honey companies together with a combined 200-year legacy of customer service and quality.

Restaurants

Dean Foods Acquired Friendly’s Ice Cream (Ice Cream and Snacks)

Date:	May 9, 2016
Price:	$155 Million
Buyer:	Dean Foods – A top food and beverage company and America’s largest processor and direct-to-store distributor of fresh milk and other dairy products.
Target:	Friendly’s Ice Cream – An U.S. east coast restaurant chain. Friendly’s was founded in 1935 in Springfield, Massachusetts, by brothers S. Prestley Blake and Curtis Blake.
Location:	Massachusetts, USA
Purpose:	Dean Foods’ acquisition of Friendly’s Ice Cream reinforces the company as a U.S. leader in ice cream with recognizable brands such as Dean’s Country Fresh and Mayfield. The company’s 2015 ice cream net sales were almost $1 billion.
Details:	Dean Foods expects the Friendly’s Ice Cream manufacturing and retail business to be immediately accretive to its margins and earnings. The acquisition will add roughly $0.06 earnings per share accretion in 2016. Dean Foods funded the transaction with cash on hand and current revolving facilities.