Natural Products Expo West 2025

Expo West 2025 continues its long history of showcasing the latest innovations in natural and organic foods, beverages, and supplements, as well as beauty, personal care and home products.

The Hexagon Capital Alliance team is optimistic about the broader Food & Beverage ecosystem after several days on the floor dialoguing with clients and prospects, strategic and financial acquirers, and industry peers and colleagues.

Let’s take a closer look at some of our Consumer and Industrial teams’ most notable exhibitors:

Notable Exhibitors at the Show:

North Hall Highlights

ALOHA – The provider of plant-based protein bars and powders is a new addition to Bain & Company’s annual list of Insurgent Brands.
Chomps – Having received an $80 million investment from Stride Consumer Partners in 2022, the FL-based maker of meat sticks continues to experience explosive growth and is inspiring a new wave of meat snack brands.
Flair Flexible Packaging – Privately held and family-owned for 30+ years and boasting six vertically-integrated facilities across the U.S., Canada, Mexico, and South Korea.
Revere Flexpak – Privately held and owned by the Revere family, our neighbors in the Pacific Northwest, where the fourth generation is continuing the family’s specialty and custom packaging history.

Hall A Highlights

Glanbia Nutritionals – The global nutrition company boasts a strong balance sheet and is well positioned for additional M&A following its Foodarom and Flavor Producers acquisitions.
Graphic Packaging – Logical strategic acquirer in paper packaging; high bar for M&A targets competing with other capital allocation priorities (i.e. share buybacks, dividends, capex, etc.)
Pack Plus Converting – A local Southern California company providing flexible packaging products for various consumer sectors featuring digital & rotogravure printing and paper & poly solutions.

Hall B Highlights

Commercial Bakeries – Acquired by Graham Partners in 2023, the Canada-based producer of private label cookies recently acquired OH-based Imagine Baking.
Irresistible Foods Group – The family of brands led by King’s Hawaiian is actively seeking authentic “perimeter” brands to add to its growing portfolio.
Fortis Solutions – Serial acquirer under the tutelage of private equity sponsors, the company is a proven packaging powerhouse and industry mainstay.

Hall C Highlights

Bluegrass Ingredients – With new backing from TA Associates, the KY-based supplier of R&D-focused ingredients solutions is poised for both organic and M&A growth.
TricorBraun – Highly acquisitive in rigid packaging distribution; don’t count them out in flexible packaging solutions either.
Traco Packaging and YEBO – Both were recapitalized by private equity sponsors in 2021 and 2023, respectively; seeking add-on acquisitions.
Innovative Packaging Solutions – A family-owned business in Southern California providing flexible packaging solutions to leading, global brands.

Hall D Highlights

Bitchin’ Sauce – Fresh off landing a Starbucks account, the CA-based dip maker’s booth was constantly buzzing with new product offerings.
Reliance Vitamin – The NJ-based company highlights a sizeable group of Vitamins, Minerals & Nutritional Supplements contract manufacturing exhibitors, a sector currently seeing strong private equity interest.
K-1 Packaging – Leading, multi-substrate packaging supplier headquartered in Southern California.

Hall E Highlights

Legendary Foods – Former Quest Nutrition founder’s latest venture capitalizes on snacking trends with protein-packed, nostalgic snacks.
Yaxin Flexible Packaging – Family-owned business with offices in Southern California and production facilities across Asia.

Networking and Industry Events:

Beyond the high-energy trade show floor, Expo West 2025 offered vibrant networking opportunities with companies hosting well-attended networking and post-show events. Special thanks to Sheppard Mullin and HCVT for an evening filled with good company and energetic laughter.

For more information or questions, please contact our team:

Andrew Suen, Managing Director: asuen@hexagoncapitalalliance.com

Johnny Sherwood, Director: jsherwood@hexagoncapitalalliance.com

Natural Products Expo West: Fueling optimism in 2024

expo west pdf

The Hexagon Capital Alliance team is still buzzing from an action-packed week at the Natural Products Expo West 2024 trade show. In addition to showcasing innovative and trending products, Expo West acts as a vibrant meeting ground where established players, emerging brands, investors and service providers converge to discuss and shape the future of the natural and organic food and beverage (“F&B”) industry.

Beyond the high-traffic, high-energy trade show floor, the off-site networking scene was equally lively, with many companies hosting well-attended networking and post-show events. This bustling environment fostered strong connections which will undoubtedly fuel future collaborations.

Excitement Abounds in the Food & Beverage Ecosystem

Conversations with relevant industry players confirmed our own projection for a more robust M&A and capital raising environment in 2024 and beyond.

Increasing Transaction Activity: We connected with many of our strategic acquirer and private equity investor relationships at the show, all of which anticipate transaction activity to ramp up during the second half of 2024. Our conversations with M&A lawyers, accountants and other service providers yielded a similar sentiment. Finally, business owners that held off going to market last year are beginning to ask, “Is now the right time?” This sentiment is partially fueled by an expectation that the Federal Reserve will begin cutting interest rates later in the year.
The Rise of Outsourcing: The growing trend toward outsourced manufacturing, which allows emerging brands to remain asset-light and focus on sales and marketing, has led to strong interest in F&B contract manufacturing and packaging companies. Those with technologically advanced capabilities and formulation know-how have become prime acquisition targets.
Packaging is a Leading Indicator: Suppliers of packaging materials were encouraged by the volume of inquiries at the booths, and optimistic about requests for new artwork and designs leading up to the trade show. Contract manufacturers of F&B products continue to strengthen their positions in the supply chain, often recommending preferred packaging suppliers whose materials run best on their equipment.

A Taste of Tomorrow: Top Trends from Expo West 2024

Expo West remains the top destination for those eager to discover the future of consumer products. Whether it was observing the introduction of new, novel ingredients or meeting brands that cater to hyper-specific consumer needs, we saw (and ate!) it all. Below are a few prevalent trends that piqued our interest:

The Rise of Gut-Friendly Products: Gut health continues to be a top priority for consumers, and Expo West showcased a smorgasbord of gut-friendly options. Probiotic sodas, kombucha on tap, and fermented food offerings were everywhere. This focus on digestive health highlights the industry’s commitment to providing functional solutions that go beyond basic nutrition.
Mushroom Mania: Mushrooms emerged as a superstar ingredient, gracing everything from savory meat alternatives to adaptogenic coffee blends. Whether enjoyed as a standalone supplement or creatively incorporated into foods and beverages, their versatility and potential health benefits are undeniable.
Protein Powerhouse: Protein-packed products were a dominant force at the show. From convenient ready-to-drink beverages to grab-and-go meat sticks and protein-rich snacks, manufacturers are catering to the ever-growing demand for convenient, high-protein options that fuel busy lifestyles.
Snack Attack: Expo West reaffirmed the snacking phenomenon, with a global twist. Manufacturers are incorporating exciting global flavors and functional ingredients into their snacks, appealing to adventurous palates. Additionally, nostalgic favorites are getting a healthy makeover, offering a delightful blend of comfort and innovation.
Packaging Prowess: A tale as old as time, consumers consistently demonstrate a propensity to purchase when the product packaging elicits a visual and emotional connection. Expect all major substrates of packaging materials (paper, plastic, glass, metal, green/sustainable) to continue innovating alongside every branded and private label product category.