Tag Archives: Consumer brands

KKR to Sell The Bountiful Company to Nestlé for $5.75 Billion

KKR

April 30, 2021

Transaction completes transformation of The Bountiful Company into a Leading Global Nutrition Platform 

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that Nestlé has agreed to acquire The Bountiful Company, a pure play branded leader in global nutrition, for $5.75 billion.

Under the terms of the agreement, Nestlé will acquire The Bountiful Company’s vitamin and supplement brands, Nature’s Bounty®, Puritan’s Pride®, Solgar® and Osteo Bi-Flex®, which will be integrated into Nestlé Health Science (NHSc) to create a global leader in vitamins, minerals and nutritional supplements.

“Today’s announcement recognizes the transformation of The Bountiful Company over the past 3+ years, as well as the collective value and capabilities of the organization. I am incredibly grateful to the 4,500 colleagues around the globe who have worked tirelessly to get us to this point,” said Paul Sturman, President and CEO, The Bountiful Company. “As a leader in global nutrition, we take seriously our responsibility and role in consumers’ health and wellness. We’re incredibly proud of the trusted brands we’ve built with the support of KKR and our other stakeholders.”

“Paul and the entire The Bountiful Company team have built a global portfolio of brands that are positioned for sustained growth, with a great culture of innovation, accountability and pace of change,” said Nate Taylor, Partner and Co-Head of Americas Private Equity at KKR. “We know that The Bountiful Company will add value to Nestlé and continue to enhance the health of the millions of consumers who use their products each and every day.”

“Since KKR’s investment, The Bountiful Company has transformed into a leading, fast growth, pure-play nutrition platform through significant investments in talent, brand building, R&D, eCommerce, and manufacturing capabilities,” added Felix Gernburd, Managing Director at KKR. “We’re immensely appreciative of everything Paul and the management team have done to build a unique company that is dedicated to bringing wellness to its communities and creating value for all of its stakeholders.”

KKR, primarily through its Americas XII Fund, acquired a majority interest in The Bountiful Company from The Carlyle Group in 2017. Carlyle Partners V and Carlyle Europe Partners III funds retained a minority stake in the company and are participating in the sale alongside KKR.

“We’re pleased to have partnered with the management team and KKR in this chapter of The Bountiful Company’s growth and are excited to see the business continue its journey with Nestlé,” said Jay Sammons, Head of Carlyle’s Global Consumer, Media and Retail team.

The Bountiful Company’s sports and active nutrition brands, Pure Protein®, Body Fortress® and MET-Rx®, as well as UK-based personal care brand, Dr.Organic®, and the Canadian over-the-counter (OTC) business, VitaHealth OTC, are not included in the sale.

The transaction is expected to close in the second half of 2021, subject to regulatory approvals and other customary closing conditions.

Evercore is acting as lead financial advisor and Simpson Thacher & Bartlett LLP as legal advisor to KKR. Morgan Stanley & Co. LLC and JP Morgan Securities LLC also served as financial advisors to KKR.

About The Bountiful Company
The Bountiful Company is a pure play branded leader in global nutrition, living at the intersection of science and nature. As a manufacturer, marketer and seller of vitamins, minerals, herbal and other specialty supplements, and active nutrition products, we are focused on enhancing the health and wellness of people’s lives. The Bountiful Company’s portfolio of trusted brands includes Nature’s Bounty®, Solgar®, Pure Protein®, Osteo Bi-Flex®, Puritan’s Pride®, Sundown®, Body Fortress®, MET-Rx®, Ester-C® and Dr.Organic®. For more information, visit Bountifulcompany.com and follow us on LinkedIn, Facebook and Twitter.

About KKR
KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life, and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Investment Solutions. With $260 billion of assets under management as of March 31, 2021, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,800 people in 29 offices across five continents. Further information is available at www.carlyle.com. Follow The Carlyle Group on Twitter @OneCarlyle.

The Bountiful Company
Nicole Hayes
+1 631-200-2650
nhayes@bountifulcompany.com

KKR
Cara Major or Miles Radcliffe-Trenner
+1 212-750-8300
media@kkr.com

The Carlyle Group
Brittany Berliner
+1 212-813-4839
brittany.berliner@carlyle.com

Source: KKR

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Eurazeo signs an exclusivity agreement with a view to investing in Aroma-Zone

Eurazeo

Eurazeo has signed an exclusivity agreement with a view to investing in Aroma-Zone, a pioneering French company making and distributing aromatherapy, natural DIY (Do-it-yourself) beauty and wellness products through a direct-to-customer online model.
Under the agreement, Eurazeo and its partners would invest around €410 million, becoming Aroma-Zone’s main shareholder alongside the founding Vausselin family, who would retain a significant stake in the company. The final terms of the deal would be announced on completion.

Aroma-Zone was set up in 1999 as a website providing information about essential oils, and has now turned into a leading online retailer that stands out by:
• making and distributing a wide range of natural DIY products and ingredients, with full transparency regarding the origin of their raw materials and their composition, and providing a large amount of information and educational content;
• offering the best quality at a fair price, based on end-to-end management of the supply chain: upstream through a network of almost 300 partners producing the raw materials, and downstream through direct sales to customers online;
• developing a loyal community of customers who recommend its products and play an active role in building the brand;
• adopting responsible and ethical business practices and a commitment to minimizing its environmental impact.

Aroma-Zone is based in Cabrières d’Avignon in Provence, employs more than 350 people and sells its products mainly online but also through a network of seven stores across France. The company is continuously innovating, inspired by constant interaction with its loyal community of customers. It has developed a unique offering of more than 1,900 products and 3,000 recipes, and currently addresses more than 2 million users per year.
Eurazeo would support Aroma-Zone with its growth strategy, providing access to its international network and expertise in the consumer goods and digital sectors. Eurazeo would help Aroma-Zone improve its online platform in France and develop it internationally, while continuing to open new stores.

About Eurazeo
• Eurazeo is a leading global investment group, with a diversified portfolio of €21.8 billion in assets under management, including €15 billion from third parties, invested in over 430 companies. With its considerable private equity, real estate and private debt expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 300 professionals and offering in-depth sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term.
• Eurazeo has offices in Paris, New York, Sao Paulo, Seoul, Shanghai, Singapore, London, Luxembourg, Frankfurt, Berlin and Madrid.
• Eurazeo is listed on Euronext Paris.
• ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA

EURAZEO CONTACTS

PIERRE BERNARDIN
HEAD OF INVESTOR RELATIONS
email: pbernardin@eurazeo.com
Tel: +33 (0)1 44 15 16 76

VIRGINIE CHRISTNACHT
HEAD OF COMMUNICATIONS
mail: vchristnacht@eurazeo.com
Tel: +33 (0)1 44 15 76 44

PRESS CONTACT
MAITLAND/amo
DAVID STURKEN
mail: dsturken@maitland.co.uk
Tel: +44 ( 7990 595 913

 

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Fletcher Hotels embarks on next growth phase with new owner Egeria

Egeria

Nieuwegein, April 22, 2021 – The shareholders of Fletcher Hotels have agreed to sell a majority stake to the Amsterdam-based investment company Egeria. NIBC and Xead are selling their shares and the Fletcher management will remain as shareholders. Egeria’s hands-on involvement and experience of international expansion will enable Fletcher Hotels to enter a new growth phase, building on a healthy and stable foundation.

Rob Hermans, CEO of Fletcher Hotels, said: “We’re grateful to NIBC and Xead for their financial support over the past years, which helped Fletcher to grow into the largest hotel chain in the Netherlands. Fletcher is a healthy business with enormous growth ambitions. Last year was a particularly difficult year for Fletcher Hotels, but with the end of the coronavirus restrictions in sight we’re seeing occupancy rise again and we’re confident that we have a very good summer ahead of us. With Egeria we’ll have an entrepeneurial shareholder on our side who will help us to continue fulfilling our growth ambitions. Even last year Fletcher achieved growth, adding a further four hotels. Together with Egeria I’m looking forward to making our business even larger, healthier and more successful.”

Mark Wetzels, Partner of Egeria, said: “We’re particularly impressed by the business built by the Fletcher team and we have the utmost confidence in the future. We’re therefore delighted to be able to contribute to the next phase of Fletcher Hotels as a new shareholder. The hotel chain is a well-managed business that has achieved controlled growth in recent years, with an estate now comprising more than a hundred hotels. We’re impressed by the entrepreneurial sprit in the hotels and among the staff, who have always been on hand to assist guests despite these immensely tough times. With our knowledge, expertise and network we aim to contribute to the hotel chain’s further professionalisation and growth ambitions jointly with the Fletcher team.”

Brigitte van der Maarel, NIBC Investment Partners, said: “We’re proud to have supported Fletcher’s growth as a minority shareholder. We’re delighted that the company will remain in Dutch hands and can continue to fulfil its growth ambitions.”

Fletcher Hotels aims to grow to more than 150 hotels in the Netherlands in the years ahead and also has international expansion ambitions. Since its inception the chain has operated a large number of hotels on the Dutch coast and in countryside areas, welcoming tourists from the Netherlands and abroad. With their restaurants the Fletcher hotels also fulfil a regional function in many cases. The transaction is subject to approval by ACM. The works council has already issued a positive advice.

About Fletcher Hotels
A long-standing Dutch company, Fletcher Hotels is the largest hotel chain in the Netherlands, with 103 hotels. The properties are all unique and situated in the most attractive locations in the Netherlands. Fletcher’s hotels are located particularly in forests, on the coast and near nature reserves or amusement parks. As well as accommodation, the hotels provide various facilities such as fully-equipped wellness resorts, football pitches, bowling alleys and tennis courts and a range of modern restaurant concepts including De Kromme Dissel, which was awarded a Michelin star in 2021 for the 50th year in succession.

About Egeria
Established in 1997, Egeria is an independent Dutch investment company focused on medium-sized enterprises. Egeria invests in healthy businesses with an enterprise value of between EUR 50 million and EUR 350 million. Egeria believes in building businesses jointly with enterprising management teams (Boldly Building Together). Egeria Private Equity Funds has interests in 11 companies in the Netherlands and Germany, while Egeria Evergreen has investments in 6 companies. Egeria’s portfolio companies generate combined revenues of more than EUR 2 billion and employ almost 10,000 people. Other activities include Egeria Real Estate Investments, Egeria Real Estate Development and Egeria Listed Investments. In 2018 Egeria launched Egeria Do, a corporate giving programme that supports projects in the world of art, culture and society, but also within its investee companies.

About Xead Group
Xead Group is a Luxembourg-based investor specialising in hotels and travel technology. Xead Group provides medium-term growth capital through shareholdings and co-investments.

About NIBC Investment Partners
NIBC Investment Partners is part of NIBC Bank and demonstrates the enterprising character of NIBC Bank by acquiring minority shareholdings in medium-sized companies, real-estate developments and infrastructure projects. NIBC Investment Partners works closely with the management and shareholders on the basis of a long-term partnership to help fulfil their growth ambitions. As a genuine partner the team can play an active role in creating value and tackling strategic and financial challenges. The 14-strong team of professionals operates from The Hague and has direct minority interests in 19 Dutch companies.

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SI Foods agrees partnership with CVC Capital Partners

CVC Capital Partners

The current SI Foods owners will remain active shareholders and will continue to manage Dodoni, its subsidiaries and its operations

SI Foods Ltd, the majority shareholder of Dodoni SA (“Dodoni”) and CVC Capital Partners VII (“CVC Fund VII”) have agreed to the joint ownership of SI Foods Holding Ltd (“SIF”) whereby CVC Fund VII will hold a majority interest.

The current SI Foods owners will remain active shareholders and will continue to manage Dodoni, its subsidiaries and its operations. The partnership will leverage SIF, and Dodoni, as a platform to grow the presence in particular in the specialty cheese and related sectors through investments and possibly acquisitions in Greece and abroad.

In 2012, Dodoni, the leading Greek dairy and best-selling Greek Feta PDO brand, was privatised by the Greek State and sold to SI Foods Ltd, a group of private investors, including the partners of Lime Capital Partners Ltd. Since its privatisation, the subsequent owners have significantly restructured Dodoni investing in its production facilities, organisation and sales and marketing. As a result, Dodoni’s revenues have almost doubled with about 50% being generated through exports. Since 2012, Dodoni has provided strong support for the primary economy, increasing the number of permanent employees from 270 to over 600 in Greece and having paid more than €0.5 billion to its farmers.

CVC Capital Partners (“CVC”) is a leading private equity and investment advisory firm with a network of 23 offices throughout Europe, Asia and the US. Funds managed or advised by CVC (“CVC Funds”) are invested in over 90 companies worldwide, employing more than 450,000 people.

CVC Funds are also one of the most active investors in Greece with a dedicated team in Athens which has invested or committed more than €1 billion of equity since 2017, including in Hellenic Healthcare Group, e-Travel, Skroutz, D-Marin and Vivartia, as well as recently agreeing the acquisition of Ethniki Insurance.

Tom Seepers, CEO of Dodoni stated: “We are proud to enter into this exciting partnership with CVC enabling us to take the next step in our long-term strategy to transform Dodoni. The current shareholders and management of Dodoni remain committed to their long-term strategy of growing the company and providing stability and security to its suppliers and employees. With CVC we have secured a strong partner with a focus on sustainable value creation, who shares our focus on ESG  and can enable us to accelerate the future development of Dodoni.”

SI Foods is being advised by KBVL, Ionian Capital and Eveda Capital.

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Third largest European plant based producer Vivera acquired by JBS S.A.

Gilde Buy Out
April 19, 2021 Purchase of Vivera, Europe’s third-largest plant-based protein producer thrusts JBS into the plant protein market; the €341 million deal includes 3 manufacturing units and a research and development center in The Netherlands.
São Paulo – JBS, the world’s largest protein company and second-largest food producer, has entered into an agreement to purchase Vivera, Europe’s third-largest plant-based food produced, for an enterprise value of €341 million. Vivera develops and produces a broad range of innovative plant-based meat replacement products for major retailers in over 25 countries across Europe, with relevant marketshare in The Netherlands, the United Kingdom and Germany. The deal includes three manufacturing units and a research and development center located in The Netherlands.
The acquisition of Vivera strengthens and boosts JBS’ global plant-based products platform. Strong growth is expected in this category throughout global markets. The deal will add a brand to JBS’ portfolio that is well-established in consumer preference, strengthening the Company’s focus on value-added products.
Vivera, currently the largest independent plant-based company in Europe, will join other JBS initiatives such as Seara’s, Incrível range, a market leader in plant-based hamburgers, and Planterra, with the OZO brand in the United States.
“This acquisition is an important step to strengthen our global plant-based protein platform”, said Gilberto Tomazoni, Global CEO of JBS. “Vivera will give JBS a stronghold in the plant-based sector, with technological knowledge and capacity for innovation”.
To nurture its entrepreneurial spirit JBS plans to manage Vivera as a standalone business unit with its current leadership team to remain in place. “Joining forces with JBS gives us access to significant resources and capabilities to accelerate our current strong growth trajectory and Vivera brand expansion”, said Willem van Weede, CEO, Vivera.
The deal was approved by the JBS board of directors and will be concluded after approval by the antitrust authorities. full details Read more at: https://gilde.com/news/2021/third-largest-european-plant-based-producer-vivera-acquired-by-jbs

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Divestment of Grand Group and the Grand Hôtel property to FAM

Investor
2021-04-19 08:15

Patricia Industries, a part of Investor AB, and its subsidiary Vectura, have agreed to divest Grand Group and the Grand Hôtel property, respectively, to FAM AB. The transaction includes the hotel operations Grand Hôtel, Lydmar Hotel and The Sparrow Hotel, all located in Stockholm, as well as the Grand Hôtel property.

The total transaction value amounts to SEK 3.9bn, of which approximately SEK 0.3bn for Grand Group and approximately SEK 3.6bn for the Grand Hôtel property. Net proceeds from the transaction are approximately SEK 1.5bn following Vectura debt amortization.

“The management team has done a great job in developing the Grand Group, further improving its customer offering and efficiency. However, we have concluded that the hotel segment does not fit with our investment priorities. Thus, it is a natural step for us to divest to FAM, a new, capable long-term owner who can further develop the Grand Group. The divestment further sharpens the focus in our portfolio”, comments Investor’s CEO Johan Forssell.

“In FAM we have found a great new home for Grand Group. The divestment frees up resources that we will use to continue to develop Patricia Industries and our existing companies. For Vectura, the divestment of the Grand Hôtel property allows more focus on expanding the core business within community services and office premises”, comments Christian Cederholm, Head of Patricia Industries.

Considering the relationship between Investor and FAM, the transaction has been evaluated by a third party. In this case Investor has engaged EY for a fairness opinion of the transaction. The individual Boards of Directors’ decisions have of course been taken without participation of directors who could be assumed to have a conflict of interest.The transaction is expected to be completed, subject to regulatory approval, during the second quarter 2021.

About Patricia Industries
Patricia Industries is a long-term owner that invests in companies and works to develop each company to its full potential. Patricia Industries is a part of the industrial holding company Investor AB, whose main owner is the Wallenberg Foundations.

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Investor, founded by the Wallenberg family in 1916, is an engaged owner of high quality global companies. We have a long-term investment perspective. Through board participation, as well as industrial experience, our network and financial strength, we work continuously to support our companies to remain or become best-in-class. Our holdings include, among others, ABB, Atlas Copco, Ericsson, Mölnlycke and SEB.

For further information:

Viveka Hirdman-Ryrberg, Head of Corporate Communication and Sustainability,
Phone +46 70 550 3500
viveka.hirdman-ryrberg@investorab.com

Magnus Dalhammar, Head of Investor Relations,
Phone +46 73 524 2130
magnus.dalhammar@investorab.com

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KKR Invests in Adopt A Cow

KKR

April 18, 2021

KKR’s latest investment in Asia that supports industry-leading companies enabled by technology

BEIJING–(BUSINESS WIRE)– Leading global investment firm KKR today announced that KKR has invested in Adopt A Cow, a fast-growing, direct-to-consumer dairy company in China that integrates digital solutions into its core operations. Adopt A Cow’s new funding round was co-led by KKR and DCP Capital.

Founded in 2016, Adopt A Cow primarily produces and sells its pure milk, yogurt, cheese sticks and milk power products and has quickly become a trusted high-end dairy brand in China, thanks to its vertically integrated business model covering alfalfa growing, dairy farming, milk processing, and technology-enabled marketing. Over the past five years, the company has become one of the fastest growing direct-to-consumer brands in China, and has accumulated more than 10 million loyal customers.

Adopt A Cow’s focus on product quality and safety, and its well-established digital sales strategy – including partnerships with opinion leaders, Tmall and other prominent ecommerce platforms – position it well to benefit from the rapid growth of China’s millennial and Generation Z populations. These groups are entering their prime consumption years, digitally savvy and increasingly seeking higher-quality goods and services.

Adopt A Cow will use the new funding to accelerate the construction of modernized dairy farms and smart production factories, bring in high-quality Australian dairy cows and further integrate its digital operation platform to enhance efficiency, improve product quality and brand competitiveness. KKR will support the company’s business growth by combining its deep experience investing in China’s technology and consumer sectors with its global industry expertise and network of resources.

“Today marks an exciting new chapter for Adopt A Cow as we accelerate our strategy to bring our high-quality dairy products to more consumers in China,” said Xu Xiaobo, Founder of Adopt A Cow. “KKR has a proven track record of investing in the dairy sector and providing value-added operational support to homegrown technology champions, and we look forward to working with them to take Adopt A Cow to its next level of success.”

“Consumption upgrades and food safety are among the key focused themes for our investments in China. As a traditional industry, the dairy sector in China is going through an exciting period of technological innovation, driven by the fast development of IoT, increasing penetration of Ecommerce and digital marketing, and higher demand for naturally healthy and nutritious products,” said Chris Sun, a Managing Director on KKR’s China investment team. “We are thrilled to be backing Adopt A Cow and its forward-thinking leadership team as the company carries out its disruptive strategy to change the way dairy is produced, marketed and sold to customers.”

“China’s economic growth is benefitting from the expansive and rapid adoption of digital technologies that are bringing convenience into people’s everyday lives,” said Karen Zhang, who leads KKR’s technology strategy in China. “This is creating attractive opportunities to support the innovative Chinese companies, like Adopt A Cow, that are transforming their industries for the digital economy.”

KKR is making its investment from its Asian private equity fund. This investment in Adopt a Cow builds on KKR’s long track record in China’s dairy sector, which includes previous investments in China Modern Dairy and Asia Dairy. This is KKR’s latest investment that supports industry-leading companies enabled by technology. Recent technology-focused investments for KKR in China include Walnut Programming, a children’s programming education company; Huohua Logic, a leading online education platform specializing in mathematics and science for children; and Xingsheng Youxuan, a leading community-based group ecommerce company.

About Adopt A Cow

Adopt A Cow was founded by Xu Xiaobo with a mission of providing high-quality dairy products to consumers through its vertically integrated business model, covering dairy farming, alfalfa growing, farm visits, feed processing, as well as milk processing and sales. Xu Xiaobo built the company’s first large-scale modernized dairy farm in Gucheng, Hebei Province in 2014, before launching the Adopt A Cow brand in October 2016 in Hangzhou, Zhejiang Province. Through crossover collaboration, content co-creation and interactive marketing, Adopt A Cow has become a trusted high-end diary brand in China.

About KKR

KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media:
KKR Asia Pacific
Anita Davis
+852 3602 7335
Anita.Davis@kkr.com

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Red Collar announces expansion of Oklahoma pet food manufacturing plant

Arbor Investment

FRANKLIN, TN. — Red Collar Pet Foods is adding 85,000 square feet to its Clinton, Oklahoma manufacturing plant. The $5.7 million expansion will be built on the south side of the existing building to help meet the high demand for products. This investment follows a recent expansion of the facility’s packaging capabilities.

“The Clinton plant continues to be one of our fastest growing plants in Red Collar Pet Foods coast-to-coast network” said Greg Wolking, the company’s chief operating officer. “When completed, the warehouse expansion enables capacity for future growth and additional hiring.”

Construction on the new 85,000-square-foot warehouse is set to begin at the end of the year.

“Congratulations to Red Collar Pet Foods and the community of Clinton on this exciting expansion,” said Oklahoma Governor Kevin Stitt. “Oklahoma is an ideal distribution point for the nation because of our central location and proximity to 88 million customers within a 500-mile radius, and Red Collar’s location in Clinton off of I-40 makes them uniquely capable to capitalize on a great logistical opportunity.”

The current workforce at the Clinton facility is 111. A fourth shift added at the end of 2020 resulted in 20 new hires. Nationwide, Red Collar has almost 800 employees at its headquarters and across its six manufacturing sites located in Orangeburg, South Carolina; Washington Court House, Ohio; Miami, Oklahoma.; Clinton, Oklahoma.; San Bernardino, California and Joplin, Missouri.

“Red Collar Pet Foods is one of thousands of manufacturing operations to find success in our state,” said Scott Mueller, Oklahoma secretary of commerce and workforce development. “We are excited for the new job opportunities this brings to Clinton and look forward to continuing to work with the company to help them meet their goals.”

Red Collar was created December 2018 as a result of Arbor Investments’ acquisition of Mars Petcare’s Exclusive Brands business. In February 2019, the newly rebranded company acquired Joplin, Missouri-based Hampshire Pet Products, a leading manufacturer of baked and cold-formed pet treats.

The company also announced in July 2019 plans to expand its headquarters in Franklin, Tennessee with an investment of $3.65 million. The company projected this investment would add 30 new jobs in the Franklin area by 2024.

https://www.petfoodprocessing.net/articles/14651-red-collar-announces-expansion-of-oklahoma-pet-food-manufacturing-plant

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VEGAMOUR Announces $80 Million Minority Growth Investment by General Atlantic to Fuel Continued Expansion as a Category Leader in Hair Wellness

General Atlantic

April 13, 2021

VEGAMOUR, a premium, direct-to-consumer, clean hair wellness brand, today announced $80M in funding from General Atlantic, a leading global growth equity firm. The Company will use the new funds to further its organic e-commerce growth, launch additional products and expand into new channels and geographies.

Founded in 2016 by CEO Daniel Hodgdon, VEGAMOUR is a plant-based hair wellness brand that incorporates a comprehensive range of naturally-derived products to support healthy hair growth and wellness. All of VEGAMOUR’s products are clean, vegan and formulated with proprietary phytoactive ingredients clinically proven to help promote abundant and radiant looking hair. VEGAMOUR has emerged as a differentiated solution from traditional hair care products, which are often formulated with potentially harmful and synthetic chemicals. Through its expanding line of best-selling topical serums, organically-sourced supplements and natural hair maintenance and scalp health products, VEGAMOUR hopes to redefine the hair care category with its holistic, inside-out approach to hair wellness. Hair loss affects approximately 35% of women – amounting to nearly 60 million people in the U.S. alone – and VEGAMOUR is directly addressing this large unmet need by providing a vegan and efficacious product line for all women.

Hodgdon, a longtime advocate and producer of sustainably-sourced, plant-based ingredients for the skincare and hair care industry, said, “After years of observing how things thrive in nature, it’s clear that when it comes to healthy hair, we should consider the body’s entire ecosystem. Hair wellness is impacted by so many factors – aging, stress, sleep, our environment and especially the things we put into and onto our bodies. At VEGAMOUR, we’ve developed a 360° approach to hair health that seeks to address these issues and support a balanced physiological ecosystem conducive to healthy, beautiful hair. As we look ahead, we are excited to be partnering with General Atlantic and leveraging the firm’s deep expertise in helping beauty brands scale globally. We look forward to bringing continued product innovation to the market and making VEGAMOUR accessible on a wider scale as we meet growing consumer demand for natural and sustainable beauty products.”

“VEGAMOUR has been a leader in creating a new category in hair wellness and occupies a differentiated position in the marketplace as an efficacious, vegan and clean solution,” said Andrew Ferrer, Managing Director at General Atlantic. “In partnership with Dan and the VEGAMOUR team, we are excited to accelerate the company’s growth and build upon its proven model.”

As part of the transaction, General Atlantic’s Andrew Ferrer and Lexie Bartlett will join the VEGAMOUR Board of Directors.

VEGAMOUR was advised by Financo | Raymond James and Sidley Austin LLP. General Atlantic was advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP.  Additional terms of the transaction were not disclosed.

About VEGAMOUR

VEGAMOUR is a digitally native, vegan beauty company. Founded in 2016, VEGAMOUR is committed to creating clean, sustainable, plant-based products that have a positive impact on people’s lives and the planet we all share. For more information, please visit https://vegamour.com/.

About General Atlantic

General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build market-leading businesses worldwide. General Atlantic has more than 175 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai and Singapore. For more information on General Atlantic, please visit the website: www.generalatlantic.com.

Media Contacts

Mary Armstrong & Emily Japlon
General Atlantic media@generalatlantic.com

Cara Hilfer
VEGAMOUR cara@ihpr.us

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Kinnevik emerges as the largest shareholder in Kolonial after particpating in a funding round co-led by Softbank and Prosus

Kinnevik

Kinnevik AB (publ) (“Kinnevik”) today announced its participation with NOK 200m in Kolonial’s recent funding round. The NOK 2.2bn round was co-led by Softbank and Prosus, and encompassed NOK 1.2bn in primary equity and NOK 1.0bn in secondary equity acquired from other existing shareholders. After the round, Kinnevik emerges as the largest shareholder in Kolonial, owning 21% of the company.

The newly raised capital will be used to fund Kolonial’s international expansion plans, beginning with Finland, with a new fulfilment center due to open in Helsinki later this year. The company is further in the earlier stages of preparing a 2022 launch in the EUR 220bn German grocery market. In preparation of becoming a global company and the imminent international expansion, Kolonial is refreshing its brand proposition and changing its name to Oda.

Oda’s mission is to be the most effective online grocer in the world, and it has world leading picking efficiency of 212 UPH (units processed per labor hour at the warehouse), compared to 169 UPH of the leading UK online grocer in 2020. Its unique business model is built on Nordic principles of employee wellbeing and a commitment to sustainability, as well as proprietary warehouse automation and data-driven processes.

Georgi Ganev, CEO of Kinnevik commented:” We are excited by the strong traction in Oda and its international expansion plans. Since our first investment in 2018, Karl and his team have consistently impressed us with their combined focus on growth and efficiency, achieving world class productivity levels in their fulfilment operations. We are happy to welcome fellow leading global tech investors Softbank and Prosus as shareholders, and we look forward to working with them in support of Oda’s growth plans and international expansion.”

In Kinnevik’s Year-End Release 2020, Kinnevik’s investment in Oda was valued at SEK 1,087m. Out of Kinnevik’s approximate NOK 200m participation in the new funding round, some 170m were injected already in 2019 in the form of a convertible bridge note, converting into shares at a customary discount to the valuation in the funding round. During the last months, Oda has consistently beaten its budgeted growth, set new record levels in fulfilment efficiency, and made significant strides in its preparations for international expansion. These developments, in combination with the new funding round, which values the business at NOK 7.5bn post-money, provide strong reference points for a valuation of Kinnevik’s investment in Oda that would correspond to a value uplift of more than 40 percent to just below SEK 1.6bn.

For further information, visit www.kinnevik.com or contact:

Torun Litzén, Director Investor Relations
Phone +46 (0)70 762 00 50
Email press@kinnevik.com

Kinnevik is an industry focused investment company with an entrepreneurial spirit. Our purpose is to make people’s lives better by providing more and better choice. In partnership with talented founders and management teams we build challenger businesses that use disruptive technology to address material, everyday consumer needs. As active owners, we believe in delivering both shareholder and social value by building long-term sustainable businesses that contribute positively to society. We invest in Europe, with a focus on the Nordics, the US, and selectively in other markets. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik’s shares are listed on Nasdaq Stockholm’s list for large cap companies under the ticker codes KINV A and KINV B.

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