Food & Beverage Acquisitions in Washington

Great Frontier Beverage (the Great Frontier Collective led by Ninkasi Brewing) has acquired Washington-based Incline Cider and Seattle-based San Juan Beverage Company (San Juan Seltzer). The deals bring two regional craft beverage brands into the Great Frontier portfolio to broaden its beer, cider and seltzer offerings and expand distribution across the Pacific Northwest.

The Wyckoff Family has acquired Ste. Michelle Wine Estates, including its portfolio of brands, vineyards, facilities and operations, returning Washington’s largest premium wine company to private regional family ownership. The deal preserves continuity of management and signals a long-term commitment to winemaking quality and Washington grape growers.

Odeko has acquired Dairy Distributing, a specialty distributor headquartered in Bellingham, Washington, from Troia Foods. The transaction expands Odeko's Pacific Northwest distribution footprint and gives Dairy Distributing's customers access to Odeko's online ordering platform, broader product catalog and additional services such as equipment financing and insurance.

Jones Soda Co. has divested its cannabis beverage business (the Cannabis Subsidiaries operating under the Mary Jones brand) to MJ Reg Disrupters LLC for $3.0 million in aggregate consideration (cash plus a promissory note). The sale includes a multi‑year trademark licensing agreement under which MJ Reg will pay annual fees to Jones; the divestiture is part of Jones Soda's strategy to streamline operations and focus on its core soda and adult beverage businesses.

KDSA Investment Partners, in partnership with Greyrock Capital Group, has acquired Spokane-based Williams Distributors, the largest independent direct-store-delivery (DSD) distributor of ice cream and frozen foods in the Northwest. KDSA named Tim Valdez as CEO, will support infrastructure and expansion investments, and Tony Williams — the former owner — will remain as President through year-end and serve as an advisor.

Silver Bay Seafoods has purchased Icicle Seafoods' (a Cooke subsidiary) 50% ownership stake in OBI Seafoods, partnering with the Bristol Bay Economic Development Corporation (BBEDC), which will retain its 50% share. Silver Bay will manage all OBI facilities and operations across multiple Alaskan plants and a Washington warehouse, with the companies citing the move as a step to stabilize regional processing capacity and support local fishermen and communities.

LaSalle Capital has completed an investment in Cascade Coffee, a contract roaster, grinder, flavorer and packager headquartered in Everett, Washington. The private equity firm will partner with CEO John Gilbert to expand Cascade's capabilities and national presence; Cascade was previously owned by Westward Partners.

Seattle-based Ackley Brands has acquired the Charles Smith Wines portfolio (including Kung Fu Girl, Eve, The Velvet Devil, Band of Roses, Boom Boom! and Chateau Smith) from The Wine Group in a deal that closed August 8, 2024. The purchase was for brands and inventory only (no properties or personnel) and will move subsequent vintages to Ackley Brands' winemaking facility in Prosser, Washington as part of a broader strategy to expand its Pacific Northwest beverage portfolio.

Seattle Hospitality Group (SHG) has acquired a controlling interest in Fremont Brewing, bringing the craft brewer under the same umbrella as Pike Brewing. The founders will remain involved, production facilities will stay separate and there are no immediate staffing changes; SHG said it will provide resources to accelerate Fremont's growth plans.

MPearlRock, a strategic partnership between PearlRock Partners and MidOcean Partners, has acquired nutpods, a leading plant-based, non-dairy coffee creamer brand headquartered in Bellevue, Washington. The deal (terms undisclosed) positions MPearlRock to scale nutpods' retail and ecommerce distribution and accelerate product innovation and growth.

Family-owned Ackley Brands of Seattle has acquired Mac & Jack's Brewing Company, a 30-year-old craft brewery based in Redmond, Washington. The founders, Mac Rankin and Jack Schropp, will retain leadership/consulting roles and the existing brewery team will remain in place as Ackley integrates the brand into its Pacific Northwest beverage portfolio.

Second Nature Brands, a Michigan-based snack platform, has agreed to acquire Sahale Snacks from The J.M. Smucker Co. for $34 million. The deal includes Sahale trademarks and a leased manufacturing facility in the Seattle area and will transition approximately 100 employees to Second Nature Brands; the acquisition is an add-on to Second Nature Brands' premium snack portfolio.

Beach Point Capital Management’s Tactical Fund has acquired a controlling stake in Wet Noses, a Seattle-area manufacturer of human‑grade, natural and organic pet food and treats. The transaction, done in partnership with founder Jasmine Galligan (who will return as CEO), will finance expansion of Wet Noses’ manufacturing capacity to meet rising demand and support growth in branded and private‑label contract manufacturing.

Morinaga Nutritional Foods, a U.S. subsidiary of Morinaga Milk Group, acquired Turtle Island Foods Holdings, Inc. — the owner of the Tofurky and Moocho brands — making Turtle Island a wholly owned subsidiary. The acquisition aims to expand Morinaga's plant-based foods (PBF) business in North America, strengthen the integrated supply chain and manufacturing capabilities, and grow the Tofurky and Moocho brands across retail and foodservice channels.

Harbor Foodservice, a family-owned independent distributor based in Kent, Washington, has acquired NW Foodservice Distribution, a Longview, Washington-based broadline foodservice distributor that serves Southwest Washington and Northwest Oregon. The acquisition expands Harbor's presence in the Pacific Northwest and strengthens its local distribution capabilities for restaurants, convenience stores, schools and other foodservice customers.

Pod Pack International, a portfolio company of LongueVue Capital, has completed a combination with Joe's Garage Coffee. The deal expands the combined platform's product and service capabilities, manufacturing capacity, and geographic footprint to better serve retail, e-commerce, foodservice and other channels.

Balchem Corporation has acquired Cardinal Associates Inc., which does business as Bergstrom Nutrition, the leading manufacturer of OptiMSM (methylsulfonylmethane) based in Vancouver, Washington. The acquisition expands Balchem’s specialty, science-backed nutrition and mineral product portfolio by adding Bergstrom’s MSM capabilities and global market presence.

FoodChain ID, a provider of food safety, testing and compliance solutions, has acquired BCGlobal, the regulatory intelligence and database subscription business formerly part of Bryant Christie Inc. The acquisition adds BCGlobal's proprietary regulatory data and subscription platform to FoodChain ID's technology suite to expand its regulatory compliance, data and technology capabilities for food, beverage and agricultural customers.

Aquamar Holdings, a Huron Capital portfolio company, has acquired Shining Ocean, Inc. from True World Group to expand scale and diversify Aquamar’s surimi and branded seafood product offerings. The deal strengthens Aquamar’s position as a leading surimi producer in North America and adds new products and innovation opportunities to its platform.

1-800-FLOWERS.COM, Inc. has acquired Vital Choice, a premium wild-caught seafood and organic foods e-commerce brand, adding more than 400 "better for you" food items to its gourmet foods assortment. Vital Choice will operate as a wholly owned subsidiary and Lakeside Partners acted as exclusive financial advisor to Vital Choice.

Sycamore Partners, a New York-based private equity firm, has completed its acquisition of Ste. Michelle Wine Estates from Altria Group. Ste. Michelle, the largest wine company in the Pacific Northwest with brands including Chateau Ste. Michelle, 14 Hands and Columbia Crest, will operate as an independent, privately held company under Sycamore to pursue growth and expand its premium wine portfolio.

Nestlé Health Science has agreed to acquire Nuun, a Seattle-based hydration supplement brand, from private equity firm TSG Consumer Partners. Financial terms were not disclosed and the transaction was expected to close in the second half of 2021.

Nestlé USA has acquired Essentia Water, the premium alkaline/functional bottled water brand, from private equity firm First Bev. Terms were not disclosed; First Bev praised the brand’s growth under its ownership and founder Ken Uptain for building a strong consumer platform. Nestlé said the deal expands its presence in the premium functional water segment.

Ardent Mills announced plans to acquire substantially all of the business operations of Hinrichs Trading Company, a family-owned pulse sourcing, cleaning and packing business headquartered in Pullman, Washington. The acquisition is intended to expand Ardent Mills' specialty ingredient capabilities — particularly chickpea solutions — and support growth in plant-based and specialty grain markets.

WM Partners' fund HPH II Investments Master Fund, LP (HPH II) acquired Feel Good Organics (FGO), an organic superfoods brand sold exclusively on Amazon. The acquisition is intended as an add-on to HPH II's functional foods holding company to expand product lines and distribution across the fund's health and wellness portfolio.

HPH II Investments Master Fund, LP, through WM Partners, has acquired Jade Leaf, LLC, the U.S. category leader in organic Japanese matcha. The acquisition will consolidate Jade Leaf into HPH II's functional foods holding company as part of a buy-and-build strategy to scale complementary health and wellness brands.

Milne Fruit Products, a Prosser, Washington-based fruit processor, has acquired the assets of Valley Processing in Sunnyside, Washington, including juice and puree production lines and freezer/cold storage facilities. Milne said the purchase expands capacity and product synergies with its existing fruit and vegetable puree and juice offerings, enabling continued growth with its industrial food ingredient, beverage and health & wellness customers.

Epic Wines & Spirits, a California-based premium wholesaler, has acquired Vehrs Distributing, Inc., an independently owned wine and craft spirits wholesaler operating in Washington, Oregon and Idaho. The transaction expands Epic's West Coast footprint, giving producer partners full distribution coverage up and down the coast while Vehrs will continue to operate under its name with existing management.

Westward Partners, together with Cascade Coffee management, has acquired Cascade Coffee, Inc., a specialty coffee roasting and contract packaging company based in Everett, Washington. Cascadia Capital served as exclusive financial advisor to Cascade on the transaction; the deal positions Westward to invest in contract manufacturing capabilities and expanded retail-focused production amid rising at-home coffee demand.

Sara Lee Frozen Bakery signed a definitive agreement to acquire Cyrus O'Leary's Pies, a Spokane-area maker of award-winning frozen and fresh pies. The acquisition expands Sara Lee Frozen Bakery's in-store bakery (ISB) portfolio and gives it a West Coast manufacturing footprint; Cyrus O'Leary's CEO Barclay Klingel will remain in his role reporting to Sara Lee's CEO.

Wet Noses, Inc., a Monroe, Washington-based manufacturer of branded and private-label pet treats, has been recapitalized by VisioCap, LLC and Beach Point Capital Management, LP. Cascadia Capital served as exclusive advisor to Wet Noses; the investment will support the company’s growth and expansion while preserving its focus on premium, natural pet consumables.

Universal Corporation (NYSE: UVV) has completed its acquisition of FruitSmart, an independent specialty fruit and vegetable ingredient processor headquartered in Washington's Yakima Valley. The purchase, funded with cash on hand and existing borrowing capacity, expands Universal's agri-products capabilities and serves as a foundational step toward building a broader agri-products services platform.

Agriculture Capital has acquired Firestone Pacific Foods, a frozen fruit processor that operates IQF processing, packing and cold storage facilities. The investment will expand Firestone’s processing and cold storage capacity and help Agriculture Capital build a vertically integrated fruit platform (AC Foods) with access to blueberry farms and private-label, industrial and retail outlets.

Bristol Bay Native Corporation (BBNC) will acquire Blue North Fisheries and Clipper Seafoods and organize them under a newly formed subsidiary, Bristol Bay Alaska Seafoods, to strengthen its position in the Bering Sea freezer longline cod fishery. The deal closes on September 30 and BBNC says the acquisition will drive operational efficiencies, product expansion and greater market consolidation while retaining existing management and staff.

Tricor Pacific Founders Capital, a Canada-based family investment firm, acquired Totally Chocolate LLC, a Blaine, Washington-based manufacturer of personalized chocolate gifts founded in 1988. The deal represents a platform investment for the family office as it expands its food and consumer packaged goods holdings.

Merck (Merck KGaA) has acquired BioControl Systems Inc., a Bellevue, Washington-based leader in rapid food safety testing, to strengthen its applied solutions in food pathogen detection. The deal expands Merck's food and beverage offering by adding BioControl's rapid detection assays, validated kits and testing platforms to Merck's instruments and consumables portfolio; financial terms were not disclosed.

French agricultural cooperative Agrial has acquired Two Beers Brewing and Seattle Cider Company, merging the two Seattle-based beverage producers into a single, wholly owned subsidiary. Founder Joel VandenBrink will remain CEO and all employees were retained; Agrial aims to provide capital and international distribution to accelerate domestic and global growth for the cider and beer brands.

Paine & Partners has agreed to sell Icicle Seafoods (Icicle Holdings, Inc.) in two concurrent transactions: Convergence Holdings, Inc. will acquire the company's land-based processing and farmed salmon operations, while Dominion Catchers, LLC will acquire harvesting and processing vessels and associated fishing rights. The buyers have committed to long-term contracts to continue Icicle's diversified seafood operations; the transactions are expected to close subject to customary conditions.

Seattle-based American Seafoods Group acquired the Alaskan Pollock assets of Yardarm Knot, Inc., strengthening its harvesting and processing position in the Bering Sea. Glitnir acted as exclusive financial advisor to American Seafoods and participated in financing the transaction.