Health and Wellness M&A Update

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PanTheryx, Inc. acquired the Goodgut digestive health brands of Greenteaspoon Inc. The terms of the transaction were not disclosed. Goodgut comprises prebiotic supplements manufacturing business and is based in Palo Alto, CA. PanTheryx is a biotechnology company that develops novel interventions for GI microbiome-related health conditions and is based in Boulder, CO. Alvarez & Diaz-Silveira LLP served as legal advisor to PanTheryx.

Whole Earth Brands, Inc. (NasdaqCM:FREE) acquired Swerve, L.L.C. and Swerve IP, L.L.C. for $80.0 million. Swerve manufactures and markets zero sugar, keto-friendly, and plant-based sweeteners and baking mixes and is based in New Orleans, LA. Whole Earth operates as a global platform of branded products and ingredients focusing on the consumer transition towards natural alternatives, plant-based, clean label, and non-sugar products and is based in Chicago, IL. The Giannuzzi Group, LLP served as legal advisor to Swerve. DLA Piper LLP (US) served as legal advisor to Whole Earth.

Vertical Wellness, Inc. acquired The Organic Candy Factory. The terms of the transaction were not disclosed. The Organic Candy Factory produces organic, vegan, kosher gummy bears that are gluten-free, gelatin-free, GMO-free, and free of corn syrup, artificial flavors, and colors and is based in Pacific Palisades, CA. Vertical Wellness is a seed to sale brand company that provides hemp-based CBD products and is based in Agoura Hills, CA.

Jarrow Formulas, Inc. acquired business assets of Natrol, LLC from Aurobindo Pharma USA, Inc. for $550.0 million. Natrol manufactures vitamins and supplements and is based in Chatsworth, CA. Aurobindo Pharma USA manufactures and distributes generic pharmaceutical products and is based in East Windsor, NJ. Jarrow formulates and supplies nutritional supplements and is based in Los Angeles, CA. Sullivan & Cromwell LLP served as legal advisor to Aurobindo.

Tate & Lyle PLC (LSE:TATE) acquired the remaining 85% stake in Sweet Green Fields LLC. The terms of the transaction were not disclosed. Sweet Green Fields is an innovator of stevia leaf extracts and is based in Bellingham, WA. Tate & Lyle, together with its subsidiaries, provides ingredients and solutions to food, beverage, and other industries and is headquartered in London, United Kingdom. Morrison & Foerster (UK) LLP served as legal advisor to Tate & Lyle.

KIND LLC acquired Nature’s Bakery, LLC for $400.0 million. Nature’s Bakery manufactures and sells bakery products and is based in Reno, NV. KIND manufactures and distributes healthy snacks and fruit and nut bars and is based in New York, NY. Cooley LLP served as legal advisor to Nature’s Bakery. Goodwin Procter LLP served as legal advisor to KIND.

Nu Skin Enterprises, Inc. (NYSE:NUS) acquired Ingredient Innovations International Company, dba 3i Solutions. The terms of the transaction were not disclosed. 3i Solutions is an innovative ingredient manufacturing company based in Wooster, OH that specializes in manufacturing oil-soluble material that is water-dispersible for cosmetics, food and nutritional industries. Nu Skin develops and distributes personal care and wellness products worldwide and is based in Provo, UT. Columbia West Capital served as the exclusive financial advisor to 3i Solutions.

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