Private equity firm MidOcean Partners has acquired Casper’s Ice Cream, a manufacturer and distributor of frozen novelty and ice cream products. Headquartered in Cache Valley, Utah, Casper’s sells its products through the FatBoy, Jolly Llama and ChurnBaby brands. The frozen novelties producer – which operates three manufacturing facilities – also offers co-packing services. Available across the US, the company’s offerings include ice cream sandwiches, cones, bars, sticks, cups and other formats. Founded in 1925, Casper’s was owned by the Merrill family for more than 95 years. Daniel Penn, managing director at MidOcean, commented: “MidOcean has been evaluating opportunities in the branded food category for a number of years, with a specific focus on the highly attractive frozen novelty category”. “We are honoured to be a part of the Casper’s family and look forward to being great stewards of the legacy built by the Merrills over the last 95+ years.” MidOcean operating partner Steve Spinner, who will serve as chairman of the Casper’s board, said: “Casper’s offers a wide variety of delicious products for its customers with numerous avenues for continued growth via expanding into new geographies, channels and product lines. We look forward to executing this strategic plan by working closely with the Casper’s team.” Paul Merrill, a third-generation family member, added: “Having grown up in this business, I’m honoured to follow in the footsteps of my grandfather, Casper Merrill, in pursuing the next phase of growth for Casper’s...I could not be more excited to see where the FatBoy brand can go with additional resources and talented people at the table.” The financial terms of the transaction have not been disclosed. The deal marks MidOcean’s second investment in branded food in the last six months, following the firm’s acquisition of Louisiana Fish Fry last year.

General Mills-owned snack brand Fibre One has expanded its snack bar line with a new strawberry cheesecake flavoured cake bar. The Fibre One 90 calorie bar is made with a layer of soft cake, strawberry flavour filling, a cream cheese flavour coating and topped with crunchy sprinkles. Gerry Roads, marketing manager for snacking at General Mills, commented: “With cravings one of the primary reasons why people give up on their new year lifestyle changes, at Fibre One we are on a mission to make sure that weight managers can have their cake and eat it! Our new Strawberry Cheesecake Cake Bar is perfect for satisfying a sweet tooth, without the guilt.” The new release will launch exclusively in Morrisons from 17 January for six months, with plans to roll out nationally from July.

Dutch meat and fish alternatives producer, Schouten Europe, has announced its acquisition of Nijland Food, which recently declared bankruptcy. Based in Goor, the Netherlands, Nijland Food is a meat processor that also offers co-packing services for the vegetarian food market. The company has been packaging products for Schouten for 12 years and has also produced several Schouten products for five years. “We have always outsourced production and packaging in order to remain flexible and focus on innovation. In recent years, however, there has been an increasing shortage in production and packaging capacity... This acquisition offers us room to grow further,” said Schouten CEO and owner, Henk Schouten. The company added that the deal does not mean that it will produce and package all of its products itself. “We have a strong network of specialised and valued production partners who will continue to add value to our company and with whom we are happy to continue to work,” said Henk Schouten. Schouten says that it is committed to ensuring that as many Nijland employees as possible can keep their jobs.

The Joe Biden administration has announced that it will dedicate $1 billion in funding this year and issue new rules to create a fairer, more competitive and more resilient meat and poultry supply chain. The move reflects concerns that the US meat market is controlled by a handful of meat and poultry giants. According to the US government, America over-relies on just a handful of meat processors, which leaves the food supply chain vulnerable. "When Covid-19 or other disasters such as fires or cyberattacks shutter a plant, many ranchers have no other place to take their animals," said a statement published on The White House's website. US government analysis has found that just four companies control 85% of the beef market, 54% of the poultry market and about 70% of the pork market. The government's action plan includes four core strategies, which will aim to achieve better earnings for producers and more choice and affordable prices for consumers. "When dominant middlemen control so much of the supply chain, they can increase their own profits at the expense of both farmers — who make less — and consumers — who pay more," said the White House statement. "Most farmers now have little or no choice of buyer for their product and little leverage to negotiate, causing their share of every dollar spent on food to decline."

US premium dessert manufacturer Dessert Holdings has announced the purchase of Steven Charles – A Dessert Company for an undisclosed sum. Steven Charles joins Dessert Holdings’ portfolio of premium, clean-label dessert companies, which includes: The Original Cakerie, Lawler’s and Atlanta Cheesecake Company. Founded in 1995, Steven Charles produces desserts for restaurant and retail clients. Dessert Holdings CEO Paul Lapadat said: "As the leading premium desserts platform in North America, we are investing behind category-defining dessert manufacturers like Steven Charles to help them reach their full potential". He continued: "...commitment to excellence in innovation and service has fostered long-standing relationships with a number of the leading foodservice and retail operators in North America. We see an incredible opportunity to supplement these strengths to support Steven Charles’ domestic growth while also investing to expand the business globally." Steven Charles president Rebecca O’Hara added: “Dessert Holdings has a complementary product portfolio to ours and brings capital and expertise that will help us accelerate our growth journey". Steven Charles will continue to be operated by its current management team, led by O’Hara. Last year, Bain Capital Private Equity bought Dessert Holdings from Gryphon Investors with the aim of accelerating its growth.

EQT-owned Oterra, a supplier of natural colours, has acquired US company Food Ingredient Solutions. Oterra's purchase of Food Ingredient Solutions, which produces colours and natural antioxidants, will mark the company's first US-based acquisition, strengthening its international presence. Food Ingredient Solutions serves more than 400 customers annually and has two certified processing facilities, located in Teterboro, New Jersey, and Marshfield, Missouri. Odd Erik Hansen, CEO of Oterra, commented: “We look forward to welcoming the Food Ingredient Solutions team to Oterra. They will join a strong team of dedicated natural colour specialists from around the world and their addition will be met with excitement, especially from our US employees as we further strengthen our US position." Oterra also completed the acquisition of Diana Food's natural food colouring business from Symrise last month, following talks that emerged earlier in the year. The transaction will allow Oterra to offer its customers and market partners a line of USDA and EU organic-certified colours and strengthen the company’s backwards integration of red beet. The deal includes two Diana sites: Cossé in France and Holbeach in the UK.

UK dairy-free brand The Coconut Collaborative has announced the launch of three products for Veganuary. The new offerings include Overnight Oats Red Berries & Coconut Yog, which is available in Tesco stores. The on-the-go breakfast option features an oat and fruit compote swirled into the brand’s Natural Coconut Yog and is free from gluten. The company is also adding a new raspberry flavour to its 350g yogurt alternatives range. The Raspberry Coconut Yog is said to be naturally high in potassium and magnesium, and is also fortified with calcium and vitamin D. The dairy-free yogurt will be arriving in Sainsbury’s from 19 January. Like the rest of the brand’s Yogs range, the new product is made with live cultures and fruit sugars. Meanwhile, The Coconut Collaborative’s new Choc and Cre&m dessert features a smooth layer of chocolate with a whipped creamy topping. The plant-based ready-to-eat pudding is free from gluten and palm oil, and contains 139 calories per pot. The dessert will be available at Tesco and Waitrose on 9 January, followed by Sainsbury’s in late-February. “We’re thrilled to be hitting Veganuary 2022 with a bang and the launch of three amazing new products, across three different categories,” said The Coconut Collaborative founder and managing director, James Averdieck.

Miller Family Wine Company, a division of the Thornhill Companies, has teamed up with professional chef Cat Cora to enter the premium, non-alcoholic wine category. Hand on Heart will be available in three variants: Chardonnay, Cabernet Sauvignon and Rosé. According to the company, the non-alcoholic wines are lower in sugar, calories and carbs compared to other no- and low-alcohol beverages. Miller's director of marketing, Tommy Gaeta, said: "As health and wellness considerations have cemented themselves as key factors in consumers' purchase decisions, the alcoholic beverage industry has responded with an influx of innovation aimed at meeting our consumers' changing needs". He continued: "While there are an increasing number of premium non-alcoholic spirit and beer offerings out there, non-alcoholic wine options continue to be extremely limited". In late 2020, Miller acquired BNA Wine Group’s portfolio of wines for an undisclosed sum.

Ready-to-drink coffee brand Sleepy Owl has expanded its portfolio with the release of its new premium instant coffee, made from its signature Arabica beans. The new launch is made with 100% Arabica beans and uses micro-ground technology, which consists of 95% soluble coffee crystals and 5% freshly roasted high-quality beans. The premium instant coffee is available in three flavours - original, French vanilla and hazelnut. The product also contains no artificial flavours or preservatives. Mr. Ashwajeet Singh, co-founder of Sleepy Owl, said: “Today, our flavoured instant coffee is made with premium 100% Arabica beans and the revolutionary micro-ground technology is here to bridge the gap between convenience and experience. This makes this launch all the more critical, as it is also a fundamental part of our initiative to engage with non-coffee drinkers and kick start their coffee journey with a rich, real good cup of coffee brewed in seconds.” Sleepy Owl’s premium instant coffee is available for Rs. 475 per 100g tin which makes up to 50 cups. The release is now available in all major online marketplaces and will also be retailed in-store across India at Foodhall, Modern Bazaar and Nature’s Basket.

While the pandemic caused major disruptions in the food and beverage industry, 2021 was still a big year for significant mergers and acquisitions.  Below, are the top ten mergers and acquisitions stories from the FoodBev website.  Refresco purchases three US production sites from Coca-Cola In August, Refresco entered into an agreement to acquire three of The Coca-Cola Company’s production facilities in the US. The transaction included three hot-fill production plants – in Truesdale, Missouri; Waco, Texas; and Paw Paw, Michigan – and supported Refresco’s efforts to strengthen its manufacturing footprint in North America. In addition, as part of the deal, the bottler became one of The Coca-Cola Company’s third-party contract manufacturers in the US. Graphic Packaging acquires Americraft Carton for $280m Spring saw Graphic Packaging Holding Company announce its intentions to acquire Americraft Carton, a folding carton producer in North America, for approximately $280 million. Americraft Carton manufactures all styles of paperboard folding carton for a variety of industries including food, food service, pet food and pharmaceutical. The deal – which included seven converting facilities and Americraft Carton’s team of employees – enabled Graphic Packaging to expand its position into new and existing end markets. “We are focused on capturing ongoing organic growth from the continued move to more circular and sustainable packaging alternatives and achieving our Vision 2025 for all stakeholders,” said Michael Doss, Graphic Packaging’s president and CEO. HelloFresh buys Australian ready meal firm Youfoodz for $93m Meal kit company HelloFresh agreed to acquire Australian ready-to-eat meal manufacturer Youfoodz for AUD 125 million (approximately $93.3 million). The deal marked an important step in HelloFresh’s growth strategy and strengthened its direct-to-consumer, ready-to-eat capabilities, as well as enhancing its Australian brand portfolio and product offering. Upon completion of the transaction, Youfoodz planned to continue to operate under its own brand. HelloFresh said it would make the brand become increasingly available to its consumers through a subscription platform. “We are impressed by Youfoodz’ strong product and manufacturing capabilities and are looking forward to jointly delight Australians with delicious, healthy and convenient meals,“ said Tom Rutledge, CEO of HelloFresh Australia and New Zealand. Jiangsu Hihio-Art Packaging is bought by Huhtamaki In April, Huhtamaki agreed to purchase Jiangsu Hihio-Art Packaging, a manufacturer of paper bags, wraps and folding carton packaging in China, in a €27 million debt-free transaction.   With the acquisition, Huhtamaki aimed to strengthen its leading position as a foodservice packaging provider in Asia and expand its portfolio in China to better serve existing and new customers in the market. Jiangsu Hihio-Art Packaging serves international quick-service restaurants, bakeries and patisseries, cafés and supermarkets with its range of products such as baking paper moulds, paper bags, sandwich boxes, pastry boxes and disposable trays. Upon completion, Jiangsu Hihio-Art Packaging would fall under Huhtamaki’s Foodservice Europe-Asia-Oceania reporting segment. Risk Capital Partners acquires UK-based Curious Brewery Also in April, UK wine producer Chapel Down offloaded Curious Brewery to private equity firm Risk Capital Partners, as it refocused on its core wine business. Curious Brewery offers four core brews: lager, session IPA, cider and porter. The company’s alcohol range is served across the UK in hotels, bars and restaurants, department stores such as Harrods and Selfridges, as well as Waitrose stores and art venues including The Royal Opera House. Following the acquisition, Risk Capital Partners said it planned to invest in a new bottling and canning line, as well as increased support for the sales and marketing functions. The deal saw Curious Brewery’s staff move across to the new setup; however, Risk Capital Partners appointed a new management team to lead the business into the next phase in its development. Bain Capital Private Equity buys Dessert Holdings Bain Capital Private Equity signed an agreement to acquire Dessert Holdings, a North American premium dessert company, from its owner of five years Gryphon Investors. The deal – which was made for an undisclosed sum – enabled Dessert Holdings to accelerate its growth and expansion. Upon completion, Dessert Holdings planned to continue to operate under its current management team led by CEO Paul Lapadat. “We are focused on building the leading premium dessert company in North America by bringing innovative, chef-inspired dessert products to our retail and foodservice customers,” said Lapadat. Aryzta sells Brazil businesses to Grupo Bimbo In the summer, Aryzta agreed to divest its Brazil businesses to Grupo Bimbo in a strategic move to simplify its operations. As part of the announcement, the bakery group reiterated its commitment to the European and Asian markets, following the sale of its North American business to an affiliate of Lindsay Goldberg earlier in the year. “The successful sale of the Brazil businesses is a further positive step in the delivery of our strategy to rebuild Aryzta’s leadership in bakery in Europe and Asia,” said Aryzta chairman Urs Jordi. Nestlé acquires The Bountiful Company’s core supplement brands Nestlé acquired core vitamin and supplement brands of The Bountiful Company from investment firm KKR for $5.75 billion, as it looked to expand its health and nutrition portfolio. The Bountiful Company is a US manufacturer of vitamins, minerals, herbal and other speciality supplements and active nutrition products. The deal included brands such as Nature’s Bounty, Solgar, Osteo Bi-Flex and Puritan’s Pride, as well as the company’s US private label business.  The plans were for the brands to be integrated into Nestlé Health Science – joining its existing brands including Garden of Life, Vital Proteins, Persona Nutrition, Pure Encapsulations and Genestra. The acquisition marked another move by Nestlé to grow its health portfolio. Danone finalises divestiture of China Mengniu stake In May, Danone finalised the sale of its approximately 9.8% minority stake in Chinese dairy business China Mengniu Dairy for €1.6 billion. The French company announced back in March its intentions to convert and sell the stake, as part of an ongoing portfolio review process. Under the terms of the agreement, the majority of the proceeds were to be returned to shareholders through a share buyback programme, with further details to be announced. Unilever to grow supplements offering with Onnit acquisition Lastly, Unilever agreed to acquire US supplements brand and lifestyle company, Onnit , as it continued to expand its consumer health offerings. Based in Austin, Texas, Onnit features a range of supplements that aim to improve cognitive function, mood and relaxation, gut health and immunity support. Its portfolio also features protein powders, protein snacks, fats and oils, as well as coffee. The acquisition marked Unilever’s latest efforts to expand its activities within the holistic health market and came a few months after it signed an agreement to buy SmartyPants Vitamins. “Onnit is a leading brand in the fast-growing nootropics segment. With its holistic health offering and digital-first model, Onnit perfectly complements our growing portfolio of innovative wellness and supplement brands that include Olly, Equilibra, Liquid IV and SmartyPants Vitamins,” said Peter ter Kulve, president of home care and health & wellbeing at Unilever.

Coca-Cola FEMSA has announced that its Brazilian subsidiary, Spal Industria Brasileira de Bebidas, has reached an agreement to acquire Coca-Cola bottler CVI Refrigerantes for R$632.5 million (approx. $110.9 million).  CVI operated one bottling factory and three distribution centres in Rio Grande do Sul, Brazil, which serves more than 2.8 million consumers. Its footprint borders Coca-Cola FEMSA's operations in southern Brazil and Uraguay, "bolstering Coca-Cola FEMSA’s leadership position in the region and allowing Coca-Cola FEMSA’s volume to reach 52% of the Coca-Cola System’s volume in Brazil". John Santa Maria, Coca-Cola FEMSA’s CEO said: “We are delighted to announce that we have reached an agreement to acquire CVI. This transaction not only complements our footprint in the south of Brazil, it represents an additional step in our strategy to continue exploring profitable inorganic growth opportunities with the ultimate goal of generating value to our shareholders and a positive impact in the communities where we operate.” The transaction is subject to customary closing conditions and approval/clearance of the respective authorities.

Mondelēz International brand Oreo has launched two new cookie flavours, Ultimate Chocolate and Ultimate Toffee Crunch.  Ultimate Chocolate Oreos is a limited edition cookie featuring three different layers of chocolate creme (white, milk and dark chocolate).  Meanwhile, Ultimate Chocolate Oreos will become a permanent fixture in the brand's portfolio. This variant pairs classic chocolate cookies with toffee creme and sugar crystals (for the crunch).  The two latest additions will be available nationwide from January.