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Add-on Acquisition • Food

Planting Hope Acquires RightRice

On January 24, 2022, Planting Hope acquired food company RightRice from Strand Equity

Acquisition Context
  • This is Planting Hope’s 1st transaction in the Food sector.
  • This is Planting Hope’s 1st transaction in the United States.
  • This is Planting Hope’s 1st transaction in California.

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M&A Deal Summary
Date January 24, 2022
Target RightRice
Sector Food
Buyer(s) Planting Hope
Sellers(s) Strand Equity
Deal Type Add-on Acquisition

Target Company

RightRice

San Francisco, California, United States
RightRice is a provider of grain packed with vegetables. Every bowl of RightRice is made from lentils, chickpeas, peas + rice, with more than double the protein, five times the fiber, and almost 40% fewer net carbs than a bowl of white rice. RightRice is based in San Francisco, California.
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Buyer Overview 1

Buyer

Planting Hope

Vancouver, British Columbia, Canada
Category Company
Founded 2020
Sector Food
Revenue 9M CAD (2022)
DESCRIPTION

Planting Hope produces health-based foods and snacks in the United States and Canada. It develops, launches, and scales nutritious consumer packaged foods and beverages. Planting Hope was founded in 2020 and is based in Vancouver, British Columbia.

Deal Context for Buyer #
Overall 1 of 1
Sector: Food 1 of 1
Type: Add-on Acquisition 1 of 1
State: California 1 of 1
Country: United States 1 of 1
Year: 2022 1 of 1

Seller Profile 1

SELLER

Strand Equity

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2012
Size Small
Type Sector Focused
DESCRIPTION

Strand Equity Partners is a growth equity firm investing in companies from the consumer industry. Prospective transaction types include management buyouts and growth financings. Strand Equity Partners was formed in 2012 and is based in Los Angeles, California.

Deal Context for Seller #
Overall 14 of 16
Sector: Food 4 of 4
Type: Add-on Acquisition 9 of 10
State: California 4 of 6
Country: United States 12 of 14
Year: 2022 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-21 Sollis Health

New York, New York, United States

Sollis Health is a concierge medical service with 24/7 centers designed to provide best-in-class emergency and urgent care with no appointment or wait times. Staffed with experienced emergency room physicians and equipped with advanced imaging and lab capabilities, Sollis centers can handle 80-90% of acute emergency room cases. Sollis Health is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-22 Neighbor

Phoenix, Arizona, United States

Neighbor is a digitally-native modern outdoor furniture brand offering high-quality products at accessible price points. Neighbor is based in Phoenix, Arizona.

Buy -

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