OWYN (Only What You Need), a brand of plant-based protein beverages and other functional nutrition products, has finished an investment round led by PowerPlant Ventures. According to BevNet, the investment round raised $7.5 million. PowerPlant joins existing investors Clearlake Capital Group and Halen Brands. Clearlake acquired OWYN two years ago in partnership with Halen Brands, a food and beverage brand accelerator and investor.
The investment provides OWYN with additional capital to continue accelerating its growth as the company prepares to expand further into the conventional grocery channel next year. In the first quarter of 2020, OWYN expects to add new accounts including Albertsons/Safeway, Target, Publix, and Vons. The brand is also expanding in the drug store channel with CVS stores throughout the United States. In addition, the company says it will expand in its existing retail partners, including Sprouts, Whole Foods, and Vitamin Shoppe.
“We are really proud of what OWYN has accomplished to date. Bringing on PowerPlant Ventures, with its deep experience in plant-centric food and beverage, complements our existing group of high-profile investors and partners and is an exciting endorsement of our brand, products, and growth trajectory,” said Mark Olivieri, president of OWYN, in a company press release. “Collectively, we remain committed to providing consumers with great tasting protein drinks that provide the nutrition and sustainability benefits of being 100% plant-based. This investment comes at the right time as we further expand our go-to-market resources to capitalize on our rapid growth trajectory.”
OWYN’s plant-based protein beverages use a proprietary blend of flax, pea protein, and pumpkin seed as a protein source instead of whey protein. According to the company, they are shelf stable and have roughly 20 g of protein, less than 4 g of sugar, and under 180 calories per serving.
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