BUILT FOR CPG
INVESTORS & BRANDS
M&A, financings, and commercial counsel for consumer brands from seed through exit.
Asto Consumer Partners
Redbud Brands
Tonic Ventures
Cheddies
Obvi
Medicine Mama
Picadas
Skoka
Cay Skin
Operation Good Boy
Evident
WellCore
Best Behavior
Levels
Asto Consumer Partners Redbud Brands Tonic Ventures Cheddies Obvi Medicine Mama Picadas Skoka Cay Skin Operation Good Boy Evident WellCore Best Behavior Levels
Venture & Growth Financing
We represent CPG companies and investors in seed through Series A and beyond, including SAFEs, priced rounds, notes, and growth equity. We run point on term sheet leverage, protective provisions, governance, and closing mechanics so you get capital that actually fits your next stage. Learn more.
M&A, Roll-Ups, and Founder Exits
When it is time to buy, sell, or merge, we run the full deal process from LOI to close. We handle structure, diligence, purchase agreements, disclosure schedules, earn-outs, rollover equity, and post-closing cleanup. Learn more about our recognized M&A practice.
Joint Ventures & Strategic Partnerships
We structure and negotiate joint ventures and strategic alliances for CPG brands entering new markets, launching new product lines, or scaling distribution with partners. That includes entity formation, governance and control, capital commitments, IP ownership and licensing.
Secondary Transactions
We structure founder and investor secondary transactions that provide liquidity without breaking future financing dynamics. Clean mechanics, controlled signaling, and market-standard execution. Most recently we have managed secondaries for investors in leading brands including Beatbox & Olipop.
Structured Investments & SPVs
We structure special purpose vehicles and bespoke investment structures for CPG transactions, including minority investments, joint ventures, secondaries, and strategic capital. We focus on control, economics, investor alignment, and clean downstream treatment in future financings and exits.
Commercial Agreements
We negotiate the core commercial agreements that support CPG growth, including e-commerce, retail, co-manufacturing, logistics, and key supplier arrangements. Our focus is on margin protection, IP ownership, quality controls, termination rights, and alignment with financing and exit strategy.
Shelf-ready. Investor-ready.
INSIGHTS & STRATEGIES
Frequently Asked Questions
How are consumer brands sold?
Brand sales follow the middle market arc with CPG-specific diligence: velocity and retail performance data, co-manufacturing and supplier agreements, trade spend accounting, inventory and freshness, and brand IP. Strategic acquirers price distribution synergies; sponsors price standalone growth; the deal terms differ accordingly, and sellers should know which buyer type they are running toward before the process starts.
What is an earnout in a brand sale, and should sellers accept one?
Earnouts bridge valuation gaps and are common in CPG deals where growth is the story. They are also the most disputed post-closing provision, because the buyer controls the operations that drive the milestones. Sellers should tie earnouts to metrics the buyer cannot quietly manage down, and read our analysis of earnout disputes before agreeing to one.
What are the key legal issues in co-manufacturing agreements?
Capacity commitments and their enforceability, quality standards and recall responsibility, IP ownership in formulations and processes, exclusivity and non-compete scope, and termination rights. Co-man agreements sit in the middle of every CPG diligence process, and problems in them move purchase prices.
How do CPG secondaries work?
A secondary is a sale of existing shares by founders or early investors, typically alongside or between financing rounds. Clean execution turns on transfer restrictions, rights of first refusal, information access for buyers, and signaling management with the company and its investors. We have run secondaries for investors in leading brands including Beatbox and Olipop.
When should a brand raise versus sell?
A legal answer only in part, but the structuring matters: bridge instruments, structured minority capital, and JV arrangements each preserve different exit paths. The mistake is signing capital that forecloses the exit the founders actually want; the fix is mapping the exit before the raise.
Do you represent CPG investors as well as brands?
Yes: funds, family offices, and strategic investors in financings, secondaries, and acquisitions across consumer. That dual perspective is the same advantage we bring in our other practices; we know the other side’s playbook because we run it.
