US-based protein food manufacturer POWERFUL Foods has received a $5m capital investment from MMG Equity Partners (MMG) to aid its growth.
MMG delivered the funding through its consumer brands investing platform, MMG Consumer Brands (MMGCB).
POWERFUL Foods CEO and founder Carlos Ramirez 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.
“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.”
The company intends to create new product categories and expand its presence in the high-protein market.
MMGCB has agreed to provide additional resources to support the brand.
POWERFUL Foods will use the funding to support the launch of its new POWERFUL 2.0 platform by accelerating development, manufacturing, sales and marketing work.
Through these initiatives, the company intends to strengthen its position as a high-protein food and beverage brand platform.
MMG Equity Partners director Jon Raccah 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.”
Established in 2013, POWERFUL Foods offers a wide range of branded products, including oatmeal, drinks and smoothies.
