MMG Equity Invests $5M in POWERFUL Foods
Summary
Eventually, the round was joined by California-based food and beverage investment firm Cambridge Company SPG. Founded in 2013 by Carlos Ramirez in Miami, Florida, Powerful is credited with creating the “brogurt” category, when it released its first Greek yogurt targeted toward men, and employed the first black packaging in the dairy aisle. With market prospects such as this, and products already being sold in more than 12,000 U.S. stores, including Walmart, POWERFUL plans to use the funds from this round to support the launch of its innovative POWERFUL 2.0 platform by accelerating product development, manufacturing, sales, and marketing to reinforce its place as a high-protein food and beverage brand platform. “The opportunities for our high-protein, 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 recognizes the tremendous potential of our brand and the passion behind it.” – Lynda Kiernan is Editor with GAI Media and daily contributor to the GAI News and Agtech Intel platforms.