Private equity firm acquires raw honey brand, Local Hive Honey

28-Sep-2021 - Last updated on 28-Sep-2021 at 15:28 GMT

Photo Credit: Local Hive Honey

Marking its first acquisition for its new fund, Charlotte, North Carolina-based private equity firm Falfurrias Capital Partners has acquired raw and unfiltered honey brand, Local Hive Honey. Terms of the deal were not disclosed.

Available in national grocery chains including Albertsons/Safeway, Kroger, Sprouts, Walmart, and Whole Foods, as well Amazon and other online retailers, Local Hive Honey partners with local beekeepers across the country to produce its 23 varietals of raw and unfiltered honey products.

Former Pinnacle Foods executive Tony Landretti joined the company in 2013 in a consultative role and was appointed CEO in 2017, following a major strategic rebrand changing the company name from Rice's Lucky Clover Honey to Local Hive.

"Joining forces with Falfurrias Capital Partners will give us tremendous resources to realize our next chapter in the growth of Local Hive," said Landretti, who will continue as CEO and serve on the board of directors.

For Falfurrias Capital Partners, the acquisition advances its consumer packaged food investment strategy, commented Falfurrias partner Ken Walker, who will join the Local Hive board along with Falfurrias partner Chip Johnson and advisor and former Hershey's and Coca-Cola executive, Mary-Ann Somers.

"This is a fast-growing segment of the honey category that's perfectly aligned with today's consumer trends favoring natural products that are sourced locally and responsibly. Local Hive is extremely well-positioned to capitalize on these shifts in consumer preference and build increased market share," noted Somers.

"Having access to the food industry expertise of people like Mary-Ann Somers will be invaluable, to say nothing of the Falfurrias experience with other food companies like Sauer Brands and Carolina Foods," added Landretti.