NEW YORK — Plant-based nutrition brand OWYN (Only What You Need) has closed a growth investment round led by Purchase Capital with participation from Hammock Park Capital LLC and existing investor PowerPlant Ventures. Financial terms were not disclosed.
Founded in 2017, OWYN manufactures and markets plant-based protein beverages formulated with a blend of pea, pumpkin and flax. The products are free from the top eight allergens and sold online and in national retailers and grocery stores, including Kroger, Publix, Target, Walmart and Whole Foods Market.
United Nutritional Brands, an affiliate of investment firm Purchase Capital, acquired a majority ownership stake in OWYN last year. Proceeds of the latest funding round will support national expansion, increased distribution, online and e-commerce growth and enhanced 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 US,” said Mark Olivieri, chief executive officer of OWYN. “In addition to the progress we have made in distributing to mass market retailers, we have built a thriving e-commerce business, launched new and innovative products, and put in place a data-driven strategic plan for continued rapid growth.”