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FoodBev Media

FoodBev Media

19 January 2024

Nutrabolt becomes primary investor in Bloom Nutrition

Nutrabolt becomes primary investor in Bloom Nutrition

Nutrabolt has announced a notable minority investment in Bloom Nutrition, securing around a 20% ownership share and becoming the primary investor in the company. This commitment is part of a broader $90 million financing initiative, which features participation from seasoned CPG investor Clayton Christopher and consumer investment firm Amberstone. Established in 2019 by Mari Llewellyn and Gregory LaVecchia, Bloom Nutrition specialises in premium health supplements designed to aid consumers in reaching their wellness goals. The company aspires to enhance accessibility to healthier living by re-envisioning supplements through the integration of flavour and functionality. Doss Cunningham, chairperson and CEO of Nutrabolt, said: "We are very excited to partner with Mari and Greg, two outstanding entrepreneurial founders, during the next phase of their company's growth. They've built an incredibly strong brand and business over the past 4.5 years, yet there is still tremendous whitespace to pursue in the form of new product platforms and distribution opportunities." The investment aims to offer strategic growth capital to energise and expedite various crucial aspects of Bloom's business. These include demand-generation initiatives, product innovation and the expansion of internal capabilities to bolster the flourishing business. LaVecchia stated: "We're thrilled to partner with Nutrabolt in taking our company to new heights. Their expertise and resources as industry leaders will enable us to scale effectively, fuel sales growth and accelerate innovation. This is a significant leap forward and we could not be more excited to embark on this next phase of growth together." Bloom co-founders will remain the majority shareholders. As part of this investment, Doss Cunningham and Clayton Christopher will join the Bloom board of directors.

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