Instacart has brought in $600 million at a valuation of $7.6 billion, solidifying the grocery delivery company’s spot on the list of the most valuable VC-backed companies in the US. D1 Capital Partners led the round, joining existing investors including Coatue Management, Sequoia and Andreessen Horowitz.
DS Services, a subsidiary of Cott Corp., has acquired The Mountain Valley Spring Co. from Great Range Capital in a transaction valued at $78.5 million.
Hearthside Food Solutions agreed to acquire Greencore USA, a frozen contract packager and producer of refrigerated, fresh-made sandwiches, entrees and salad kits. Greencore USA is the U.S. unit of Ireland-based Greencore Group PLC, and operates 13 locations across North America. The acquisition expands the Hearthside network to 38 production facilities in the U.S. and Europe, enabling the company to expand into new product categories.
Murray Devine has released its latest PE Valuations Report, powered by PitchBook datasets, which provides an in-depth review of current trends across buyout multiples and PE investments.
To place this analysis within the context of the broader M&A landscape, the report also spotlights consumer activity.
Wakefern Food Corp and Associated Wholesale Grocers Inc. (AWG) have both made National Cooperative Bank’s (NCB) annual “NCB Co-op 100,” a report listing the nation’s top 100 revenue-earning cooperative businesses, which in 2017 posted revenue totaling about $214.4 billion. Wakefern and AWG were fourth and fifth in the ranking, respectively.
As the natural beauty trend takes hold across the US, it seems Black women are fully embracing their natural hair. New research from Mintel reveals that Black women are most likely to wear their hair natural (no chemicals) with no-heat styling (40%) and natural with heat styling (33%). For a boost in confidence, 51% of women say their current hairstyle makes them feel beautiful.
A consistent, inexpensive comfort food, rotisserie chicken continues to have a strong appeal for diners and chefs alike.
The apple category as a whole has struggled, contracting 5% in dollar sales and 8% in unit sales over the latest 52 weeks, according to Nielsen. This decline in sales aligns with that of other whole fruits that are struggling relative to naturally snack-sized options like mandarins and cherries. Among the top 20 categories in fruits, 10 have shown growth, while grapes, bananas and apples are among those reporting declines.
A consumer survey published by the consultancy A.T. Kearney shows consumers understand there is more to cannabis than its psychoactive elements. More than 75% of the consumers surveyed said they are aware that cannabis has non-psychoactive components that may be perceived as health benefits, and consumers are most likely to try “therapeutic cannabis” in foods (55%), vitamins (50%) and skincare products (43%).
Dairy-free beverage maker Mooala has expanded its Bananamilk portfolio with a new strawberry variant, made from fruit and roasted sunflower seeds.