OWYN, a brand of plant-based beverages and other function nutrition products, has announced a growth investment round led by PowerPlant Ventures, which joins existing investors Clearlake Capital Group L.P. and Halen Brands Inc.
OWYN (Fairfield, NJ), a brand of plant-based beverages and other function nutrition products, has announced a growth investment round led by PowerPlant Ventures, which joins existing investors Clearlake Capital Group L.P. and Halen Brands Inc. Clearlake acquired OWYN two years ago in partnership with Halen Brands. The terms of the investment from PowerPlant Ventures were not disclosed.
"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 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 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," said Mark Rampolla, co-founder and partner at PowerPlant Ventures, in a press release. "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 from PowerPlant Ventures provides OWYN with additional capital to continue accelerating its growth in preparation for expansion into the conventional grocery channel next year. According to a press release from the company, OWYN expects to add new accounts, including Albertsons/Safeway, Target, Publix, and Vons, in the first quarter of 2020. The brand is also expanding into the drug store channel with CVS stores nationwide, and expanding placement in its existing retail partners such as Sprouts, Whole Foods Market, and Vitamin Shoppe.