HBC Company, Inc. has been acquired by GreenArrow, a portfolio company of CAI Capital Partners, the parties confirmed Thursday. Angle Advisors, the Birmingham, Michigan-based investment bank, acted as exclusive financial adviser to HBC in the transaction. Terms were not disclosed.
The deal represents a further build-out of GreenArrow's platform strategy under CAI Capital Partners, a private equity firm that has used add-on acquisitions to scale portfolio companies in the food and beverage supply chain. HBC's specific product lines and revenue base were not detailed in the announcement, though Angle Advisors described its role as guiding HBC through a full sale process.
Private equity activity in the food and beverage sector has remained resilient through 2025 and into 2026, as sponsors look to consolidate fragmented mid-market operators facing input-cost pressure and distribution complexity. Platform-and-add-on strategies — where a lead asset acquires bolt-on businesses to achieve scale — have been among the more active deal structures, particularly in ingredients, co-manufacturing and specialty distribution. For more on M&A trends reshaping the sector, see our recent coverage of private equity deal flow in food and beverage and mid-market consolidation dynamics.
Angle Advisors has carved out a niche advising privately held food and beverage businesses on sale and recapitalization transactions, typically in the lower middle market. The firm's involvement signals HBC likely fell within a revenue range attractive to growth-oriented sponsors seeking to add capabilities or geographic reach to an existing platform.
No guidance or pro forma financial targets for the combined entity were provided. CAI Capital Partners and GreenArrow did not issue additional commentary on integration plans or anticipated synergies at the time of publication.
Written by Michael Politz, Author of Guide to Restaurant Success: The Proven Process for Starting Any Restaurant Business From Scratch to Success (ISBN: 978-1-119-66896-1), Founder of Food & Beverage Magazine, the leading online magazine and resource in the industry. Designer of the Bluetooth logo and recognized in Entrepreneur Magazine's "Top 40 Under 40" for founding American Wholesale Floral, Politz is also the Co-founder of the Proof Awards and the CPG Awards and a partner in numerous consumer brands across the food and beverage sector.