MMG Equity Partners (MMG) has invested $5 million in POWERFUL Foods, a US-based producer of natural and high protein foods and beverages to help in its expansion.
The investment has been made by MMG Equity Partners, through its consumer brands investing platform – MMG Consumer Brands (MMGCB).
POWERFUL Foods will use the proceeds from the investment to further expand into more product categories and continue to grow in the high-protein products market.
Founded in 2013, POWERFUL Foods is claimed to have created a Greek yogurt product aimed at male consumers. Currently, the company’s portfolio includes POWERFUL Yogurt, POWERFUL Oatmeal, POWERFUL Drinks, POWERFUL Smoothies, and POWERFUL Bites, found in more than 12,000 stores across the US.
Carlos Ramirez – CEO and founder of POWERFUL Foods said: “We could not be more thrilled to partner with MMG to take POWERFUL Foods to the next level.
“The opportunities for our high-protein, the 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.”
The funds from the investment will also be used to support the debut of the company’s new POWERFUL 2.0 platform by speeding up development, manufacturing, sales and marketing.
Jon Raccah – Director of 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.”