Powerful Foods, manufacturer of high-protein foods and beverages, has received $5 million in funding from MMG Equity Partners, as it aims to strengthen its active-lifestyle brand.
Founded in 2013, Powerful Products manufactures all-natural foods and beverages high in protein designed to fuel an active lifestyle.
The Miami-headquartered company’s line-up – which includes high-protein Greek yogurts, drinks, oatmeal, smoothies and bites – is available in over 12,000 stores including Walmart, Target, 7-Eleven and Amazon.
With the investment, Powerful Foods aims to further expand into additional product categories as well as further solidify its position as a high-protein food and beverage brand platform for health-conscious consumers.
The funding will also support the brands launch of its Powerful 2 platform by accelerating product development, manufacturing, sales and marketing.
The $5 million capital investment was made through equity firm MMG’s consumer brands investing platform which will also provide additional resources to support the brand.
“We could not be more thrilled to partner with MMG to take Powerful Foods to the next level,” said Carlos Ramirez, CEO and founder of Powerful Foods.
Ramirez added: “The opportunities for our high-protein, great-tasting offering has expanded greatly as consumers look to incorporate high-protein products into their diets, creating a significant and growing marketplace for our platform.
“We are thrilled, but not surprised, that a prominent private equity firm like MMG recognises the tremendous potential of our brand and the passion behind it.”
Jon Raccah, director at MMG Equity Partners, said: “We partnered with Powerful because we believe in the potential of the brand and the platform Carlos and his team have created. Not only have they proven the ability to disrupt sleepy product categories with unique and innovative products, but they have carved out a niche with a brand that resonates, particularly with the coveted millennial consumer.”
© FoodBev Media Ltd 2019