SANTA ROSA, CA (March 8, 2022) — Legacy FocalPoint Partners, now B. Riley Securities ("B. Riley") is excited to announce the sale of wildbrine, LLC ("wildbrine" or the "Company") to Fermented Food Holdings, Inc. ("FFH"). B. Riley served as exclusive financial advisor to wildbrine, LLC.
Based in Santa Rosa, California, wildbrine is a true category disruptor in the plant-based, naturally fermented foods sector and is the leading brand in organic, fermented, and probiotic sauerkraut and vegan kimchi. In 2021, the Company leveraged its expertise to launch a plant-based creamery that produces alternative sour cream, cream cheese, butters, dips, and spreads. Through the Company's two brands, wildbrine and wildCREAMERY, the Company offers a diverse and broad suite of products in these burgeoning, high-growth, and deeply fragmented segments. Due to the unique nature and superior positioning of the respective brands within the market, B. Riley as able to attract a premier partner for wildbrine in FFH, a newly formed company dedicated to long-term investment in the fermented foods category. FFH recently acquired another major brand in the category, Bubbies Fine Foods.
Chris Glab, Co-founder of wildbrine, remarked, "To ensure long-lasting growth and success of our brands, my business partner, Rick Goldberg, and I were insistent that we find the right strategic partner to take wildbrine to the next level. [B. Riley] was instrumental in generating a very high level of interest among a number of strategic and financial groups. We are very excited about FFH, who brings a deep food CPG background and a long-term strategic vision."
FFH Co-founder Oliver Joost said, "We see a huge opportunity to bring together the operating disciplines of traditional CPG businesses with the passion and innovation of entrepreneurial teams."
FFH will continue to build on the success of both the wildbrine and Bubbies brands through its involvement with Taylor Farms, the largest fresh vegetable grower and processor in the United States. Taylor Farms is a strategic minority equity investor in FFH and will help optimize FFH's supply chain to deliver the best possible service and value to FFH's retail customers.
Regarding the transaction, Robert Woolway, B. Riley Managing Director, said, "We are pleased to announce another successful transaction for our Food practice. The founders of wildbrine have created a unique, fast growing, fermented foods and alternative dairy company that is capitalizing on consumer interest in healthy, better-for-you plant-based options. We are thrilled to have represented Chris and Rick and help drive another exceptional outcome for our clients."
Mike Schall, B. Riley Managing Director, commented, "Our team's engagement with wildbrine was particularly fulfilling given my enduring relationship with Chris and Rick. To help them set the stage for future growth of the brands and to achieve an extraordinary result was really exhilarating."
About wildbrine
wildbrine is passionate about the impact of fermentation on food, experimenting with all the ways the natural transformation process of fermentation works and discovering new ways to deliver deliciously nutritious fermented products to consumers. The Company is intensely committed to every step of the creation and production process, from fermenting vegetables, to using organic ingredients, to answering every customer's questions. Founded by Chris Glab and Rick Goldberg in 2011, wildbrine is widely recognized as an innovator in the fermented foods and plant-based marketplace. For more information, please visit www.wildbrine.com and follow @wildbrine on Instagram, Facebook, Pinterest, LinkedIn, and Twitter.
About Fermented Food Holdings
FFH is a Miami-based food and beverage company dedicated to bringing together high-quality fermented food brands to reach a broader group of consumers and introduce them to the benefits of fermented foods. Founded in 2021 by food industry veterans Oliver Joost and Marcelo Marim, FFH seeks to leverage its partners' deep industry expertise to accelerate the growth of its brand portfolio, as well as the fermented foods category. For more information, please visit www.fermentedfoodholdings.com.
B. Riley Securities is a leading investment bank that provides a full suite of investment banking, corporate finance, advisory, research, and sales and trading services. Investment banking services include initial, secondary, and follow-on offerings, institutional private placements, merger and acquisition (M&A) advisory, SPACs, corporate restructuring, and recapitalization. The firm is nationally recognized and highly ranked for its proprietary small-cap equity research. B. Riley Securities is a wholly owned subsidiary of B. Riley Financial. For more information, visit brileysecurities.com.
Please contact Robert Woolway, Managing Director, at 310-405-7080, or Mike Schall, Managing Director, at 310-405-7095 for more information regarding this transaction.