Alantra advises Falfurrias Capital Partners on the acquisition of Local Hive honey brand

Sep 2021

Buy-side advisory

Boston – Alantra, a leading global investment bank and asset management firm, is pleased to announce that it acted as exclusive financial advisor to Falfurrias Capital Partners (“FCP”) on the acquisition of Rice’s Honey, a producer of premium raw and unfiltered honey doing business under the ‘Local Hive’ brand, from Mission Consumer Capital. The transaction closed on September 22, 2021, and terms were not disclosed.

Local Hive, based in Greeley, Colo., is the fastest growing premium honey brand in the US retail honey market. Since 1924, the company has offered 100% raw, unfiltered honey sourced exclusively from American beekeepers. The company employs a unique business model that contracts with local honey suppliers across the USA, which enables Local Hive to offer a range of local varietals, sold at leading U.S. retailers such as Whole Foods, Costco, Albertson’s, Safeway and Sam’s Club.

Jeff Robards, Managing Director with Alantra, said, “Local Hive is the clear winner in a transition that is occurring in the retail honey category, from value-oriented, private label products to premium differentiated brands that resonate with consumers. FCP is the perfect partner for Local Hive as it accelerates its growth trajectory and sees continued gains in market share, distribution and velocity.”

Josh Garver, Managing Director with Alantra, added, “FCP was able to differentiate themselves in a very competitive process. The acquisition provides them a great platform, poised to be the industry leader, and we look forward to following the organic and inorganic growth initiatives planned for the company.”

“We are delighted also to have supported the debt financing efforts for FCP’s acquisition of Local Hive. Our ability to offer both transaction and debt advisory services provides a compelling value proposition to clients like FCP who participate in competitive processes,” added Scott Hadfield, Managing Director at Alantra.

The Alantra US consumer food team advising FCP included Mr. Robards, Mr. Garver, Mr. Hadfield, Mike O’Connell (Vice President, Boston), Philip Dytko (Associate, Boston) and Matt Gage (Analyst, Boston).