NEW YORK–(BUSINESS WIRE)–OWYN, a leading brand in plant-based protein beverages and other functional nutrition products, today announced a growth investment round led by Purchase Capital with participation from Hammock Park Capital LLC and existing investor PowerPlant Ventures. Terms of the deal were not disclosed.
Today’s news follows the acquisition of a majority ownership stake in OWYN last year by United Nutritional Brands, an affiliate of Purchase Capital—an investment firm led by Nicholas J. Singer that provides patient capital for private and public companies. Proceeds of this latest funding round will be deployed to drive national expansion, increase distribution across top national retailers, grow OWYN’s online presence and eCommerce platform, and expand its advertising and marketing efforts.
“We are grateful for the support and expertise of our investors as we continue to expand nationally and become the fastest growing plant-based nutrition beverage in the U.S.,” said OWYN CEO Mark Olivieri. “In addition to the progress we have made in distributing to mass market retailers, we have built a thriving eCommerce business, launched new and innovative products, and put in place a data-driven strategic plan for continued rapid growth.”
In recent months, OWYN has focused on the launch of its Pro Elite High Protein Shake, the first plant-based protein shake to contain 35 grams of protein and zero sugar, and the successful expansion of its distribution into the largest national retailers and grocery stores, including Kroger, Publix, Target, Walmart, and Whole Foods.
“OWYN’s solid growth trajectory over the past year speaks to Mark and the team’s expert leadership, operational efficiencies, and ability to develop a differentiated offering within a $15 billion plus market opportunity,” said OWYN Chairman Nicholas J. Singer. “We are excited to deepen our support for the business to further strengthen the brand and deliver innovative products that meet evolving consumer demands.”
OWYN’s plant-based protein beverages contain only all-natural ingredients and are free from the top eight allergens. The business uses a proprietary blend of pea, pumpkin and flax as protein instead of the whey protein typically used in protein drinks. It works with allergen industry leaders to minimize cross-contact and it is a National Strategic Partner of FARE (Food Allergy Research and Education).
“Not all plant-based products are created equal,” said Dr. Donald Kirby, an OWYN Medical Advisory Board Member. “There are more than 85 million individuals in the U.S. who depend on dairy-free and allergen-free products, and we believe OWYN’s proven proprietary process and offering are filling a critical need that will continue to grow in the coming years.”
About OWYN™ (Only What You Need)
OWYN™ (Only What You Need), is a plant-based protein drink manufacturer that makes protein drinks for people who wish to live a clean, inspired and transparent lifestyle. OWYN™ is one of the fastest growing plant-based protein beverages across both brick & mortar and eCommerce. The products contain only real, simple, all-natural ingredients. OWYN currently offers its protein drinks in five flavors and recently expanded its line to include Pro Elite Shakes – the first plant-based protein shake that contains 35 grams of protein and zero sugar. OWYN is a portfolio company of Purchase Capital, an investment firm that provides patient capital for private and public companies that have significant potential for long-term value creation. For more information on OWYN, please visit liveowyn.com.
About Purchase Capital
Purchase Capital is an investment firm that provides patient capital for private and public companies that have significant potential for long-term value creation. The firm looks broadly across asset classes and industries, takes a concentrated approach toward deploying capital, and is flexible with regard to debt or equity. Purchase Capital also serves as the family office to veteran investor and entrepreneur Nicholas J. Singer as well as a sponsor to leading institutional investors, endowments, and foundations. For more information, please visit https://purchasecapital.com.
