Nutrabolt, the US-based energy-drink and recovery-beverage maker, has acquired a stake in supplements and active-nutrition business Bloom Nutrition.
The “significant minority investment” provides Nutrabolt with an ownership stake of approximately 20%, making the company California-based Bloom Nutrition’s largest investor.
The investment is part of a larger $90m financing round in Bloom Nutrition that also includes veteran CPG investor Clayton Christopher and consumer investment firm Amberstone.
Bloom Nutrition has grown rapidly since its foundation in 2019, largely as a result of word-of-mouth approval linked to its presence on social media platforms such as TikTok.
Austin, Texas-based Nutrabolt, behind brands including C4 energy drinks and the sports nutrition range Xtend, said the investment will provide strategic growth capital to fuel and accelerate many areas of Bloom Nutrition’s business – “namely demand-generation activities, product innovation and expanding internal capabilities”.
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Bloom Nutrition, founded by Mari Llewellyn and her husband Greg LaVecchia, is best known for its Greens and Superfoods powder. Its broader product portfolio encompasses whey protein supplements, collagen peptides and superfood berries. It started out as a direct-to-consumer business but its products are now sold in branches of major US grocers including Target and Walmart.
Nutrabolt CEO Doss Cunningham 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 four and a half years, yet there is still tremendous white space to pursue in the form of new product platforms and distribution opportunities.
“Beyond their impressive growth and category leadership, it was their authenticity and love for the space that attracted Nutrabolt most to this opportunity.”
LaVecchia said: “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 Nutrition’s co-founders remain the majority shareholders. As part of this investment, Cunningham will represent Nutrabolt on Bloom Nutrition’s board of directors. Christopher will also join the board.
Nutrabolt was founded more than 20 years ago. Its investors include the soft drinks heavyweight Keurig Dr Pepper. Its products are sold in more than 125 countries, through multiple channels including e-commerce marketplaces and retailers such as Walmart, Walgreens and Kroger.