This Month in PEVC Consumer Products & Services News

This is the first of a monthly newsletter focused on deal updates, fundraising, and industry developments in the consumer products & services industry.

Questions or comments? News suggestions? Email Chris King (kingchri@wharton.upenn.edu)

Nestle to Sell Its Jenny Craig Brand to PE Firm North Castle Partners
North Castle Partners has agreed to acquire weight loss company Jenny Craig from Nestle. No financial terms were disclosed. North Castle will combine Jenny Craig with its existing portfolio company, fitness chain Curves.

Boulder Brands Invests in Suja Raw Juices
Boulder Brands Investment Group owns a minority stake in Suja, whose cold-pressed juices are sold in natural food markets including Whole Foods and Sprouts. "It's one of the hottest brands within Whole Foods, and it's basically as close to raw as you can get, but it's high-pressure pasteurized rather than being heated, so it keeps its nutrients," said Carole Buyers, senior vice president of investor relations and business development for Boulder Brands.

Tyson Buys Utah Food Company Don Julio
Tyson Foods, Inc., under its subsidiary Tyson Mexican Original, has bought local Don Julio Foods, located in Clearfield, Utah.  Don Julio, which makes flour and corn tortillas as well as salty snacks such as potato chips, tortilla chips and pretzels, sells its products across the country under the brand names of Don Julio Authentic and Clover Club brands.

The Honest Company, Co-founded by Jessica Alba, Raises $25 mln
The Honest Company, which operates site to sell natural, non-toxic products, has raised a $25 million round that was led by Institutional Venture Partners. ICONIQ Capital and existing investors Lightspeed Venture Partners and General Catalyst Partners also participated in the round. The Los Angeles-based company, co-founded by actress Jessica Alba, has now raised $52 million in financing.

Centerview Capital backs Ole Smoky Tennessee Moonshine
Ole Smoky Tennessee Moonshine said Tuesday that it has received a “significant” equity investment from Centerview Capital. No financial terms were disclosed. Demeter Group served as exclusive financial advisor to Ole Smoky in the transaction. Based in Gatlinburg, Tennessee, Ole Smoky is a distiller of moonshine.

Premier Foods Seeks Investor for Stake in Bread Unit
Britain’s Premier Foods is looking for an outside investor to help shore up its struggling bread business, a source familiar with the matter told Reuters.  Sky News reported on Tuesday that the company, which also owns brands like Mr Kipling cakes and Bisto gravy, has approached private equity groups about the sale of a stake in its bread business, which includes the Hovis brand.

Smithfield owner Shuanghui hires banks for up to $6 billion HK IPO
China's Shuanghui International Holdings, which bought U.S. pork producer Smithfield Foods Inc this year, has hired banks for a Hong Kong IPO, seeking to raise up to $6 billion in what could be the region's largest stock offering in four years, writes Reuters. An IPO would allow Shuanghui to pay down debt borrowed for the $4.7 billion Smithfield purchase and provide an exit for investors such as CDH, one of China's biggest and oldest private equity firms which has long aimed to sell its stake in the company, writes Reuters.

Huron Capital Partners’ Ronnoco Coffee buys Henderson Coffee Corp
Ronnoco Coffee, a portfolio company of Huron Capital Partners, has acquired Henderson Coffee Corp. No financial terms were disclosed. Based in Muskogee, OK, Henderson is a maker and distributor of coffee, tea and related products and equipment to restaurants, casinos and convenience stores in Oklahoma , Arkansas, Missouri, and Kansas.

CVC Capital Partners completes buy of Campbell Soup’s European meals business
Campbell Soup Company has closed its sale of its European simple meals business to CVC Capital Partners for 400 million euros. The acquisition includes Liebig and Royco in France, Erasco in Germany, Blå Band in Sweden and Devos Lemmens and Royco in Belgium. Headquartered in Camden, NJ, Campbell Soup Company is a food manufacturer.

Danone to join The Abraaj Group in the Acquisition of Fan Milk International
Danone and The Abraaj Group have announced a partnership agreement whereby Danone will join Abraaj in the acquisition of Fan Milk International. Fan Milk is a manufacturer and distributor of frozen dairy products and juices in West Africa.

Dr Martens acquired by Permira
British footwear brand Dr Martens has been acquired by an investment vehicle backed by Permira. The deal is expected to complete in January 2014.

Arbor Investments recaps PBF Pita Bread Factory
Arbor Investments said Tuesday that it has closed its recapitalization of PBF Pita Bread Factory. No financial terms were disclosed. Headquartered in Burnaby, British Columbia, PBF has been a maker of fresh and frozen baked goods since its founding in 1984. Arbor Investments is a Chicago-based private equity firm that invests in the food and beverage sector. Update: The recapitalization deal involving PBF is the firm's first transaction in the Canadian market.

Sun Capital exits Gerber Childrenswear
Sun Capital Partners said Thursday that it has sold its stake in Gerber Childrenswear to Providence Apparel. No financial terms were disclosed. Gerber Childrenswear is a provider of infant and children’s apparel and related products.

The Riverside Company adds on to Baby Jogger platform
The Riverside Company has acquired NJoy Baby, which designs and markets strollers. The company is an add-on to Riverside's Baby Jogger platform.

PE-backed Del Monte to sell canned foods business for $1.7 bln
Singapore-listed Del Monte Pacific Ltd will buy the canned food business of private equity-backed Del Monte Foods Consumer Products Inc for $1.7 billion, gaining a direct presence in the key U.S. market and reuniting a substantial portion of the Del Monte brand family.

Oppenheimer, Temasek in African private equity JV
South Africa's E. Oppenheimer family and Singapore state investor Temasek Holdings have set up a $300 million private equity fund to invest primarily in consumer goods and agricultural sectors across Africa.

Friedman Fleischer seeks more than $1 Bln for latest pool
Friedman Fleischer & Lowe is currently premarketing for its next fund, according to four sources. The San Francisco-based firm is seeking more than $1 billion for its fourth fund, three of the sources said.

VP Industries: David Gluckman
Consumer: Chris King | Energy: Dan Lee | Healthcare: Visali Ramanathan | Industrials: Bahaa Naamani | Technology: Erica Martin