Blog Article

Native Hive Honey comes underneath Falfurrias Capital possession

Native Hive Honey, a Colorado-based producer of uncooked, unfiltered honey, has been acquired by private-equity agency Falfurrias Capital Companions.

Falfurrias in Charlotte, North Carolina, already owns the Virginia-based condiments and spices maker Sauer Manufacturers, and within the spring this yr invested in baked items producer Carolina Meals in North Carolina. The PE agency didn’t disclose the curiosity it had taken in that enterprise in April and right this moment (29 September) additionally kept away from revealing the monetary phrases for Native Hive Honey.

Native Hive provides US retailers Walmart, Entire Meals Market, Safeway, Kroger, and Sprouts Farmers Market, together with Amazon from its portfolio of 23 kinds of honey produced by beekeepers throughout the nation.

Tony Landretti, a former govt of US meals firm Pinnacle Meals, which was acquired by peer Conagra Manufacturers in 2018, joined Greeley-based Native Hive in an advisory capability in 2013 and have become its chief govt in 2017.

Landretti, who will proceed as CEO post-transaction, stated: “Becoming a member of forces with Falfurrias Capital Companions will give us great sources to understand our subsequent chapter within the development of Native Hive. Gaining access to meals {industry} experience of individuals like Mary-Ann Somers [a Falfurrias advisor] shall be invaluable, to say nothing of the Falfurrias expertise with different meals firms like Sauer Manufacturers and Carolina Meals.”

Somers, a former Hershey and Coca-Cola govt, added: “This can be a fast-growing section of the honey class that’s completely aligned with right this moment’s client traits favouring pure merchandise which might be sourced domestically and responsibly. Native Hive is extraordinarily well-positioned to capitalise on these shifts in client desire and construct elevated market share.”

Ken Walker, a companion at Falfurrias, will be part of the Native Hive board, alongside together with his counterpart Chip Johnson and Somers.

“This funding continues our industry-first methodology of figuring out markets – like packaged meals – with important and sturdy development potential,” Walker stated. “In Native Hive we’ve discovered a implausible companion with a confirmed observe report, a extremely differentiated method and a robust administration crew, every thing we have to drive future development.”


Source link