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Paine Schwartz Partners, a private equity firm, has announced the acquisition of Promix, a nutrition and supplements business,
Founded in 2014, Promix is known for producing a range of ‘clean’ nutritional products, including supplements, vitamins, meal replacements, and snacks, with a claim of ‘nothing artificial’. The company’s product range, including prebiotics, protein powders, bars, electrolytes, collagen, and creatine, are sold via the direct to consumer channel, as well e-commerce and small wholesalers.
Commenting on the move, Paine Schwartz Partners CEO Kevin Schwartz said: “This strategic acquisition of Promix is directly aligned with our long-term thesis of identifying companies that provide access to healthier, more nutritious, and safer food”.
“We appreciate Promix’s strong brand loyalty and its track record of growth acceleration, which we believe can lead to growth within existing categories and into adjacent consumers and products lines”, he added.
Promix CEO and founder Albert Matheny said: “As a leading investor in high quality brands, Paine Schwartz brings significant expertise and resources – particularly in the consumer and wellness space – that will help us grow our business, including launching new innovative products, improving our operational capabilities, and expanding into new markets and channels”.
Financial terms of the transaction were not disclosed.
Source: Paine Schwartz Partners
