Consumer Products Acquisitions in 2021

German bicycle distributor Messingschlager GmbH acquired Cycle Force Group, LLC (including its North America Cycles subsidiary) in a deal that closed Dec. 31, 2021. The acquisition establishes Messingschlager USA (doing business as Cycle Force Group) and is intended to drive the buyer's international expansion and deepen capabilities in parts, accessories and e-mobility across the U.S. and Europe.

The Scotts Miracle-Gro Company, through its Hawthorne Gardening Company division, acquired Luxx Lighting (assets) for $215 million and True Liberty Bags for $10 million. The deals expand Hawthorne's indoor/hydroponic lighting and harvest/storage product portfolios and add approximately $100 million in annual sales and $20 million in operating income from Luxx.

Juggernaut Capital Partners has sold the Dapple Baby brand to Eleeo Brands. Dapple, a plant-based baby cleaning and personal care product brand (previously part of the Noble Holdings platform), will join Eleeo's family of family-focused health & wellness brands, including Boogie Wipes, to expand its retail and e-commerce presence.

Curaleaf Holdings, Inc. agreed to acquire Bloom Dispensaries, a vertically integrated single-state cannabis operator in Arizona, in an all-cash transaction valued at approximately US$211 million. The deal adds four retail dispensaries (Phoenix, Tucson, Peoria, Sedona) plus ~63,500 sq. ft. of adjacent cultivation and processing space in north Phoenix; Curaleaf will pay $51 million cash at close and the remainder via three promissory notes, and Bloom generated estimated 2021 revenue of ~$66 million with EBITDA margins above 40%.

Church & Dwight Co., Inc. has completed its previously announced acquisition of TheraBreath for $580 million in cash. The purchase adds the #2 alcohol-free mouthwash brand in the U.S. to Church & Dwight's oral care portfolio and strengthens its position in the mouthwash category.

Crocs, Inc. entered into a definitive agreement to acquire privately‑owned casual footwear brand HEYDUDE for $2.5 billion in a deal funded with cash and stock. HEYDUDE — founded in Italy and operating as a fast‑growing consumer footwear brand — will operate as a standalone division with founder Alessandro Rosano remaining in a creative/strategic role.

Freeman Spogli & Co. has partnered with WhiteWater Express Car Wash, acquiring a stake in the Houston-based express car wash platform; terms were not disclosed. WhiteWater’s founders (Steve Mathis, Clayton Clark, Shane Wilson) and investor SkyKnight Capital will remain significant investors and the existing management team will continue to lead as the company pursues further multi-regional expansion and densification of markets.

Culligan International and Waterlogic Group Holdings have completed a combination to create a global leader in clean and sustainable drinking water solutions. The combined company, headquartered under the Culligan name and majority owned by funds affiliated with BDT Capital Partners, expands product range, global reach and service capabilities across consumer and commercial end markets.

Netherlands‑domiciled Dayes B.V. has acquired Blackpool‑based Healthpoint from private equity firm Maven, generating a 3.1x return for Maven. Healthpoint, founded in 1996, supplies affordable healthcare and beauty FMCG (including own brands) into UK value and high‑street retailers; the business was previously the subject of a 2017 MBO supported by Maven Investor Partners.

Main Street Capital Holdings, LLC completed a recapitalization of its portfolio company I-deal Optics, Inc. in partnership with the company's management to provide liquidity and support continued growth. I-deal Optics is a wholesale supplier of prescription eyeglass frames with national reach and a diverse brand portfolio.

L Catterton Asia, the Asia fund of consumer-focused private equity firm L Catterton, has made a strategic growth investment in Ci FLAVORS, the Tokyo-based holding company that owns Cosme Company. The partnership will support new brand development and accelerate Ci FLAVORS' international expansion (notably into China and other markets), with LVMH Japan president Norbert Leuret joining as a senior advisor.

Organigram Holdings Inc. acquired all of the issued and outstanding shares of Laurentian Organic Inc. in a cash-and-share transaction with aggregate upfront consideration of CAD 36 million plus potential earnouts. The acquisition brings the Tremblant Cannabis and Laurentian craft brands into Organigram’s portfolio, strengthens its presence in Quebec, and expands its premium/hash product offering to accelerate revenue and EBITDA growth.

Mister Car Wash, Inc. acquired Clean Streak Ventures LLC — an Orlando-headquartered express car wash platform operating under the Clean Machine and Top Dog Express brands — from MKH Capital Partners for $390 million. The deal adds 23 operating and 10 development locations (33 total) to Mister's Florida footprint and expands its recurring subscription member base in the state.

Funds managed by Blackstone Growth (BXG) have acquired a majority stake in Supergoop!, the SPF-focused skincare brand founded by Holly Thaggard. Founder Holly Thaggard, CEO Amanda Baldwin and existing management will retain significant equity while prior investor Encore Consumer Capital and several other investors will continue to support the business; the investment is intended to fuel product innovation, brand marketing and national and international expansion. Terms were not disclosed.

GSM Outdoors has acquired SOG (SOG Specialty Knives & Tools) in a deal announced via GSM's social channels. The acquisition expands GSM's portfolio of outdoor and hunting brands and is positioned as a strategic add-on to the company's knife and accessories offering; details on staff and operations post-closing were not disclosed.

Glass House Brands Inc. executed a definitive agreement to acquire PLUS (Plus Products Inc.), a leading California cannabis edibles brand, for approximately US$25.6 million via a mix of unsecured convertible debt and equity plus performance-based consideration. The deal, to be completed under a plan in the context of PLUS' CCAA proceedings, is expected to close in Q1 2022 and expands Glass House's product portfolio and distribution in the high-growth edibles category.

WILsquare Capital, a St. Louis-based private equity firm, has acquired TekBrands, LLC, the Omaha-headquartered owner of AccuQuilt, AccuCut, MemoryStitch and Custom Shape Pros. Management and founders will remain involved post-transaction as WILsquare backs the company to drive the next phase of growth, increase consumer awareness and expand domestic and international distribution; terms were not disclosed.

Advantus Corp., a privately held manufacturer of consumer and office products, acquired certain assets and brands (Artistic, NuDell and Timekeeper) from Artistic Products LLC. Artistic Products will retain other product lines (including Softalk and LED signs) and continue operating out of Hauppauge, New York under a new name; Advantus said the purchase strengthens its position in the office products channel.

Food52 has entered into a definitive agreement to acquire Schoolhouse, the Portland-based lighting and lifestyle goods maker, for approximately $48 million in cash and stock. The transaction is being funded by investor TCG, which also provided an incremental investment to Food52 as it pursues retail expansion, product assortment growth, and build-out of creative studios.

Harry's, Inc. has entered into a definitive agreement to acquire Lumē Deodorant, LLC, a doctor-developed direct-to-consumer personal care brand focused on all-over body odor solutions. The acquisition — the first for Harry's Labs — will bring Lumē's product portfolio and team into Harry's platform to scale the brand across DTC and omni-channel channels; the transaction was expected to close by the end of 2021 subject to customary conditions.

NIKE, Inc. announced the acquisition of RTFKT, a metaverse-born brand that creates virtual sneakers, NFTs and digital collectibles. Terms were not disclosed; Nike said it will invest in the RTFKT brand to expand its digital capabilities and serve creators at the intersection of sport, gaming, culture and digital products.

Cortec Group, via an affiliated investment group led by Cortec Fund VII, completed a growth recapitalization of Little Sleepies, LLC on October 29, 2021. The minority/growth investment will partner with founder and CEO Maradith Frenkel to accelerate brand awareness, expand product categories, and scale digital marketing and supply chain capabilities.

Cresco Labs has completed the acquisition of Pennsylvania clinical registrant Laurel Harvest Labs, adding ~52,000 sq. ft. of indoor cultivation/processing capacity, an operational dispensary in Montgomeryville and a second dispensary under construction in Scranton. The deal expands Cresco’s retail and cultivation footprint in Pennsylvania to strengthen its wholesale market position and support clinical research partnerships.

L2 Capital Partners recapitalized YakAttack, a vertically integrated designer and U.S. manufacturer of kayak fishing accessories headquartered in Farmville, Virginia. Salem Investment Partners and Oxer Capital provided debt financing and co-invested; terms were not disclosed. L2 said it will partner with founder Luther Cifers and management to expand product development, sales channels and distribution.

Sport Maska Inc., owner of the CCM Hockey brand, acquired Tournament Sports Marketing Inc., the owner of Jackson Ultima and Atom skates. The acquisition expands Sport Maska's product portfolio into figure and roller/inline skates and aims to grow the company's presence across on- and off-ice skating markets.

Prelude Growth Partners made a $15 million minority growth equity investment in The Center, a Los Angeles-based multi-brand beauty and wellness platform founded by Ben Bennett. The capital will be used to accelerate expansion of The Center's in-house brands (including Naturium, MAKE Beauty, and Phlur) while Prelude provides operational support and category expertise.

NZXT, a PC gaming hardware and services company, secured an approximately $100 million strategic investment led by Francisco Partners alongside several strategic individual investors. The investment will fund senior hires, expansion into new hardware categories and global direct-to-consumer markets, and support product and community initiatives while founder Johnny Hou remains the majority shareholder.

WhiteWater Express Car Wash, a Houston-based express car wash platform, acquired three regional operators — Bruster's Car Wash (5 locations, Lima, Ohio), Checkers Express Car Wash (2 locations, Northwest Ohio) and Soapy Joe's Auto Wash (1 location, Coldwater, Michigan) — expanding its Midwest footprint. The company will onboard employees, rebrand the sites under the WhiteWater Express banner, and continue its unlimited membership and recurring-service offerings as part of a broader growth plan that combines acquisitions and greenfield development.

Aqua-Leisure Recreation, a Blackford Capital–backed maker of aquatic products, has acquired Denver-based Airhead Sports Group in the first add-on under Blackford's ownership. The deal combines two leading consumer brands in pool floats, towables and outdoor leisure products to expand sourcing, distribution and product development capabilities and pursue omni-channel retail and wholesale growth.

Gryphon Investors signed a definitive agreement to acquire Metagenics, Inc. from Alticor, with the transaction expected to close in Q4 2021. WhiteHorse Capital provided a first-lien credit facility to Meta Buyer, LLC to support the acquisition; Gryphon will partner with Metagenics' management to invest in global growth, including potential strategic acquisitions.

Husqvarna Group agreed to acquire Orbit Irrigation from Platinum Equity in a transaction valuing Orbit at approximately $480 million. Orbit, a Salt Lake City–based maker of residential watering equipment and smart B-hyve devices (about 1.4 million connected devices), will join Husqvarna's Gardena Division to create a global leader in residential watering.

Gladstone Capital Corporation completed a senior debt and minority equity investment in WB Xcel Holdings, LLC (Xcel), a Hawaii-headquartered surf and watersports apparel and equipment brand. The capital will provide balance sheet flexibility, fund growth initiatives and support the company’s international expansion plans.

Branded, a consumer-brand platform, has acquired Fresh Heritage, a men’s grooming and personal care brand inspired by African grooming traditions. The deal will keep co-founder and CEO Gamal Codner in place while Branded handles merchandising, operations and an upcoming Amazon launch to expand Fresh Heritage into the United Kingdom, Germany and France; financial terms were not disclosed.

Helen of Troy Limited agreed to acquire Osprey Packs, Inc. for approximately $414.7 million in cash, adding the outdoor pack and travel-gear brand to its portfolio. The acquisition brings Osprey — headquartered in Cortez, Colorado, with roughly 270+ employees and ~ $155–160 million of 2021 revenue — into Helen of Troy's global consumer-products platform to expand its outdoor category and accelerate international growth.

Edgewell Personal Care Company acquired Billie Inc., a digitally native direct-to-consumer women's personal care brand, in an all-cash transaction valued at $310 million that closed on November 29, 2021. The acquisition adds Billie's DTC and digital capabilities to Edgewell's portfolio and positions the brand for expansion into U.S. brick-and-mortar retail while keeping Billie led by its co-founders.

CVC Capital Partners Fund VIII has completed the acquisition of Stock Spirits Group PLC following unanimous board recommendation and shareholder approval. CVC intends to accelerate the group's growth—leveraging its M&A capabilities—to expand Stock Spirits' leading Central and Eastern European spirits brands into complementary geographies across Central and Western Europe.

Juggernaut Capital Partners has acquired DAVEXLABS, LLC (d/b/a L'ANZA), a leading independent salon and direct-to-consumer hair care brand, from WestView Capital Partners. L'ANZA, known for its premium salon products and presence in over 30,000 professional salon doors, will be backed by Juggernaut to support the brand's next phase of growth and channel expansion.

Piper has invested £33m to acquire a minority stake in Omlet, the Banbury-based design-led pet accessories brand. The funding will support Omlet’s product expansion across cat and dog categories and accelerate international growth as the business scales its e-commerce community-driven model.

Boosted Commerce has acquired WellPath, a direct-to-consumer nutritional supplements brand, to expand its wellness and personal care portfolio. Boosted plans to scale WellPath through new product development, expanded marketing (including offline channels), and leveraging its e-commerce operating playbook.

Life360 agreed to acquire Tile for $205 million, combining Life360's family-safety mobile platform with Tile's Bluetooth-enabled finding devices and network. Tile will continue to operate under CEO CJ Prober and remain branded as Tile, while the acquisition expands Life360's product capabilities, international reach and paid subscriber base.

SNOW, the DTC teeth-whitening brand, has acquired natural oral care brand Klēn Products. Founder Dr. Brian Harris joins SNOW's advisory board as the company expands and elevates its oral care product portfolio with Klēn's natural formulations.

High Tide Inc. has agreed to acquire an 80% stake in Denver-based NuLeaf Naturals for US$31.24 million, with a three-year option to buy the remaining 20%. The deal strengthens High Tide's vertical integration and global CBD capabilities by adding NuLeaf's cGMP-certified manufacturing, vegan softgel technology and D2C e-commerce distribution.

Adventure Ready Brands has acquired LuminAID, a maker of solar-powered lighting and charging solutions for outdoor and emergency use. The acquisition (closed Nov. 19, 2021) expands Adventure Ready Brands' portfolio of consumer outdoor and emergency-preparedness products and aims to scale LuminAID's humanitarian mission and global reach.

The Silverfern Group partnered with IVEST Consumer Partners to acquire Paladone, a UK-based designer and seller of licensed consumer products. The investors plan to support Paladone's international expansion, growth of online channels, and deeper retailer and licensing relationships.

Antelope, the pet consumer platform launched by Alpine Investors, has acquired Bocce's Bakery, a New York–based maker of all‑natural, limited‑ingredient pet treats. Bocce's will continue operating under its brand with founders Andrea and Natalia Tovar remaining as senior advisors as Antelope invests to scale the brand's omni‑channel retail presence.

ZA Group, Inc. (OTCPINK: ZAAG), a public holding company, announced it has acquired Forever Brands, which owns the license to develop the Casa Zeta-Jones women's shaving line. The acquisition gives ZA Group a subscription-based direct-to-consumer product platform aimed at the underserved women's wet-shave market and supports a planned launch of razors, pre-care and after-care products under the Casa Zeta-Jones brand.

Platinum Equity, through its portfolio company Mad Engine, agreed to acquire a controlling/majority stake in Fifth Sun, a Northern California–based designer and print-on-demand apparel manufacturer. The deal positions Mad Engine to integrate Fifth Sun's proprietary software-driven supply chain and expand print-on-demand capacity (including a new Hebron, KY facility), while founder Dan Gonzales retains a meaningful equity stake and will serve as a senior strategy advisor.

Next Sparc Growth Partners, a professional family office based in Chagrin Falls, Ohio, has made a growth investment in Revel Bikes, an award-winning designer and maker of high-end full-suspension mountain bikes based in Carbondale, Colorado. The partnership provides capital and operational support to help Revel scale product development, distribution, and brand growth.

Givaudan has reached an agreement to acquire Custom Essence, a family-owned fragrance creation house based in Somerset, New Jersey. The acquisition expands Givaudan's natural-fragrance capabilities and local/regional customer reach as part of its 2025 fragrance strategy; Custom Essence employs roughly 70 people and would have represented about USD 40 million of incremental sales on a 2020 proforma basis.

Generational Equity advised RJS Trading International, Ltd. (dba Alamode Home), a Richmond, British Columbia-based home textile wholesaler, on its sale to a private investor. The transaction closed on November 15, 2021, transferring ownership of the company that sells bedding, bath and window goods primarily through wholesale distributors.