M&A Deal Summary

The Good Bean Acquires Beanitos

On February 12, 2020, The Good Bean acquired food company Beanitos from Loft Growth Partners and L Catterton Partners

Acquisition Highlights
  • This is The Good Bean’s 1st transaction in the Food sector.
  • This is The Good Bean’s 1st transaction in the United States.
  • This is The Good Bean’s 1st transaction in Texas.

M&A Deal Summary
Date 2020-02-12
Target Beanitos
Sector Food
Buyer(s) The Good Bean
Sellers(s) Loft Growth Partners
L Catterton Partners
Deal Type Add-on Acquisition

Target

Beanitos

Austin, Texas, United States
Beanitos LLC is an all-natural, high fiber, high protein, gluten-free snack company with a variety of bean-based chip products.

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Buyer(S) 1

Buyer

The Good Bean

Berkeley, California, United States
Category Company
Founded 2010
Sector Food
DESCRIPTION

The Good Bean is a producer of roasted chickpea and whole bean snacks committed to helping all people snack better. Created by Sarah Wallace, who was inspired by the roasted chickpeas she grew up eating in India, The Good Bean offers several lines of insanely crispy, crunchy, and flavor packed snacks that are so yummy you might mistake them for junk food. All the Good Bean snacks are non-GMO, gluten-free, and high in fiber and protein. As a female founder-led brand, The Good Bean has historically supported women-led businesses as well as domestic small farms. The Good Bean can be found at grocery stores, natural retailers, mass and club stores nationwide as well as online.

DEAL STATS #
Overall 1 of 1
Sector (Food) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1

Seller(S) 2

SELLER

Loft Growth Partners

Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2001
Size Small
Type Sector Focused
DESCRIPTION

Loft Growth Partners is a growth-oriented private investment group focused on US-based opportunities in the consumer sector. Specific sectors of interest include food, beverages, personal care, home care, pet care, and other branded consumer products. The Firm will consider both majority and minority positions and generally pursues companies with $2 to $100 million in revenue. Loft Growth Partners is based in Chicago, Illinois.

DEAL STATS #
Overall 5 of 5
Sector (Food) 4 of 4
Type (Add-on Acquisition) 4 of 4
State (Texas) 1 of 1
Country (United States) 5 of 5
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-01 The Sill

New York, New York, United States

The Sill is a digitally-native brand selling houseplants, pots, and accessories. The Sill was founded in 2012 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-01 Good Karma Foods

Boulder, Colorado, United States

Good Karma Foods is a non-dairy beverage business. The company’s flagship Good Karma flaxmilk is a highly differentiated non-dairy beverage with a unique nutritional profile and great taste that is closer to dairy cow’s milk than many other options. Good Karma is broadly available in the natural channel and rapidly expanding its distribution into conventional grocery stores. Good Karma Foods is based in Boulder, Colorado.

Buy -
SELLER

L Catterton Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1989
PE ASSETS 30.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

L Catterton is a private equity firm that targets investments in consumer-related companies located throughout North America. L Catterton looks for businesses with identifiable brands and operating in 'defensible and extensible' positions within growth industry segments. Specific sectors of interest include branded consumables, food/beverages, consumer services, restaurants, media and marketing, household durables, specialty retail, mass merchant retail, and luxury/apparel. Prospective transactions include management buyouts, recapitalizations, turnarounds, and growth financings. L Catterton was formed in 1990 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 63 of 103
Sector (Food) 8 of 10
Type (Add-on Acquisition) 27 of 47
State (Texas) 5 of 7
Country (United States) 55 of 76
Year (2020) 2 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-01 Chopt Creative Salad

Rye Brook, New York, United States

Chopt Creative Salad Co. is an operator of salad category restaurants with over 50 locations in the U.S. Chopt’s menu features a broad array of classic salads, salad sandwiches, grain, and noodle bowls, and warm kale and quinoa bowls, all served with flavorful scratch-made dressings. Chopt Creative Salad was founded in 2001 and is based in New York City.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-13 Butternut Box

London, United Kingdom

Butternut Box is a human-grade, cooked fresh dog food company in Europe. Butternut’s highly personalised dietary offering and digital approach enable customers to experience a new category of fresh, healthy dog food with unsurpassed quality, convenience and affordability. Butternut Box was founded in 2016 and is based in London, United Kingdom.

Buy -
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