List

9 food & beverage companies loved by dealmakers

Giants Coca-Cola and PepsiCo update their product lines with healthy offerings, while private equity firms, such as Brynwood Partners, breathe new life into tried and true brands, like Pillsbury. And lots of buyers experiment with meal kits and delivery methods, fueling M&A. Here are 9 deals we found particularly appetizing.

pillsbury
Pillsbury Creamy Supreme frosting sits on display in an Associated Supermarket in New York. Photographer: Daniel Acker/Bloomberg
Brynwood Partners snags Pillsbury and Hungry Jack from J.M. Smucker
Brynwood Partners is acquiring a portfolio of brands from the J.M. Smucker Co. (NYSE: SJM) for $375 million. The portfolio includes the exclusive U.S. rights to the well-known Pillsbury brand’s shelf-stable baking products, along with the Hungry Jack, White Lily, Jim Dandy and Martha White brands. The Pillsbury brand is a household name, in part due to the popularity of its advertising mascot, the giggling Poppin’ Fresh character, also known as the Pillsbury Doughboy.
James Harden
Coca-Cola refreshes with BodyArmor deal
The Coca-Cola Co. (NYSE: KO) is buying a minority stake in sports drink company BodyArmor. The target counts former and current National Basketball Association players Kobe Bryant and James Harden (pictured) among its investors. The deal expands Coca-Cola's beverage line beyond traditional soft drinks, while it gives Whitestone, New York-based BodyArmor access to Coca-Cola's bottling system.
birdseye
Pinnacle Foods Birds Eye brand frozen vegetables sits on display at a supermarket in Princeton, Illinois, U.S., on Tuesday, March 26, 2013. Pinnacle Foods Inc., the maker of Birds Eye frozen vegetables and Hungry-Man dinners owned by Blackstone Group LP, plans to raise as much as $580 million in an initial public offering that would value the company at about 2.1 billion. Photographer: Daniel Acker/Bloomberg
Conagra adds Birds Eye and Hungry-Man TV, buys Pinnacle Foods
Conagra Brands Inc. (NYSE: CG) is buying frozen food maker Pinnacle Foods Inc. (NYSE: PF) for $10.9 billion. Frozen Foods has been Conagra's fastest growing division and with Pinnacle, Conagra will add the Birds Eye, Hungry-Man TV, Celeste pizza and Mrs. Paul's fish brands.
bluebuffalo
A cat eats Blue Buffalo Wilderness brand Salmon Recipe wet cat food in Tiskilwa, Illinois, U.S., on Friday, Aug. 4, 2017. Blue Buffalo Pet Products Inc. is scheduled to release earnings figures on August 8. Photographer: Daniel Acker/Bloomberg
General Mills goes pet food shopping
General Mills Inc. (NYSE: GIS) is buying Blue Buffalo Pet Products Inc. (Nasdaq: BUFF) for about $8 billion, adding the maker of natural dog and cat food to a portfolio that includes Haagen-Dazs ice cream and Cheerios cereal. The deal capitalizes on consumers’ increasingly treating pets like family members and demanding high-quality healthy food for them.
 Insomnia Cookies
Krispy Kreme buys Insomnia Cookies, which pioneered delivering baked goods to college dorms
Krispy Kreme Doughnut Corp., a subsidiary of JAB Holding Co. (owner of beauty giant Coty and beverage producers Keurig Dr. Pepper and Peet's Coffee & Tea), is buying a majority stake in Insomnia Cookies, to expand delivery services. Insomnia was founded in 2003 by Seth Berkowitz in his dorm room at the University of Pennsylvania. The company specializes in delivering fresh, warm cookies to the customer's door until 3:00 a.m.
homechef
Kroger delivers Home Chef acquisition
Kroger Co. (NYSE: KR) has agreed to acquire online meal kit maker Home Chef for up to $700 million. "We've long believed that the future of our industry is omni-channel and bigger than just meal kits sold online. We want to be where our customers are and want to help make cooking at home easier, more accessible and even more enjoyable," says Home Chef founder Pat Vihtelic.
tatesbakeshop
Mondelēz snatches up Tate’s Bake Shop from the Riverside Co.
Mondelēz International Inc. (Nasdaq: MDLZ), which aims to build the “best snacking company in the world,” has completed the $500 million acquisition of Tate's Bake Shop from the Riverside Co. Tate’s is best known for crisp, buttery chocolate chip cookies. Founder Kathleen King began selling small batches of cookies at her family's farmstead when she was 11 years old, according to the company, which operates a specialty bake shop in Southampton, New York.
pizzacrust
Peak Rock grabs a slice of Tyson’s pizza crust business
Peak Rock Capital is buying Tyson Foods Inc.'s (NYSE: TSN) TNT pizza crust business, as Tyson sheds units to focus on its proteins division. The target makes baked crusts, self-rising crusts and flat breads for the foodservice and retail Industries. Peak Rock is ramping up its dealmaking in the food and beverage sector.
SodaStream
Demonstration models of homemade soda makers, manufactured by SodaStream International Ltd., sit on display at a Home Center store in Jerusalem, Israel, on Wednesday, Aug. 17, 2011. SodaStream, whose single product can turn tap water into over 100 flavors of soda in refillable bottles, will benefit from a U.S. slowdown as consumers seek to save more, Chief Executive Officer Daniel Birnbaum said in an interview. Photographer: Ariel Jerozolimski/Bloomberg
PepsiCo. buys SodaStream, as consumers seek healthier drinks
PepsiCo Inc. (Nasdaq: PEP) has agreed to buy fizzy-drinks dispenser maker SodaStream International Ltd. (Nasdaq: SODA) for $3.2 billion, sending the company synonymous with sugary sodas into the homes of more health-conscious consumers.