Fairfield, NJ and Hermosa Beach, CA—OWYN announced a growth investment round led by PowerPlant Ventures in a press release. PowerPlant joins existing investors Clearlake Capital Group, L.P. and Halen Brands, Inc.
Mark Olivieri, President of OWYN, said in the release: “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. 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.”
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Mark Rampolla, Co-Founder and Partner at PowerPlant, added: “OWYN brought much needed innovation to the protein beverage category, and its products clearly hit the spot for consumers looking for plant-based options with great flavors and clean ingredients. We are thrilled to partner with Mark and team to leverage their great work to date, accelerate growth, and help OWYN become one of the next great plant-based brands.”
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. The release says that in the first quarter of 2020, OWYN expects to add new accounts including Albertsons/Safeway, Target, Publix, and Vons. It is also expanding placements in its existing retail partners, including Sprouts, Whole Foods, and Vitamin Shoppe.
The terms of the investment were not disclosed.