Press Release

Mission Consumer Capital Announces Sale of Local Hive

September 28, 2021 · Fort Worth, Texas

Mission Consumer Capital ("Mission") has completed the sale of Rice's Honey, LLC ("Local Hive") to Falfurrias Capital Partners ("Falfurrias").

Local Hive produces 23 varietals of raw and unfiltered honey sourced exclusively from local beekeepers across various states and regions throughout the United States. Each honey has its own unique flavor and color based on the region from which it was sourced.

"It has been a great pleasure for us at Mission to have partnered with Tony Landretti and the talented team at Local Hive. Under their leadership, the company completed a successful re-branding effort which resulted in Local Hive being the largest and fastest-growing local, raw unfiltered honey at key retailers across the U.S. Local Hive is well-positioned for continued growth as part of Falfurrias." — Richard Garland, Partner, Mission Consumer Capital

"Through a very productive four-year partnership, Mission helped take us to the next level of growth. Mission was instrumental in providing resources, vision, guidance, and experience. We thank Mission's team for helping us move to the next exciting chapter in our history, and look forward to our new partnership with Falfurrias." — Tony Landretti, CEO, Local Hive

About Mission Consumer Capital

Headquartered in Fort Worth, Texas, Mission Consumer Capital is a private equity firm focused exclusively on investing in leading consumer packaged goods companies. Mission's current and prior investments include Nuevo Garcia Foods, Local Hive Honey, and Jardine Foods among others. The firm targets companies with annual EBITDA of $2 million–$15 million where Mission's strong operating expertise in strategy development, brand marketing, and distribution expansion can help create value. For more information, please visit www.mission-cap.com.

About Local Hive

Local Hive™ is a leading brand of raw and unfiltered honey in the United States. With a unique business model that features contracted local honey supply and rigorous quality control testing, Local Hive markets 23 raw and unfiltered honey varietals based on the unique pollens that reflect different U.S. geographies. For more information, visit www.LocalHiveHoney.com.

About Falfurrias Capital Partners

Falfurrias Capital Partners is a Charlotte-based private equity investment firm founded in 2006 by Hugh McColl Jr., former chairman and CEO of Bank of America; Marc Oken, former CFO of Bank of America; and Managing Partner Ed McMahan. The firm is focused on acquiring growth-oriented middle-market companies. For more information, visit www.FalfurriasCapital.com.