NEW YORK — Creatd, Inc., parent company of Creatd Ventures, will acquire plant-based breakfast brand Brave. The transaction is expected to close within the coming weeks. Financial terms were not disclosed.
Additionally, Creatd has closed $2.15 million in above market financing to support expansion initiatives including acquisitions and technology development.
Creatd Ventures’ portfolio includes Camp, a gluten-free, plant protein-packed pasta brand; Dune, a line of functional beverages promoting stress relief and immune health benefits; and Basis, a brand of hydration mixes. Brave offers packets of overnight oats formulated with organic, plant-based seeds, nuts and fruit.
“Brave has all the hallmarks of an ideal acquisition candidate for our portfolio of brands: a health and wellness consumer brand, with a subscription-oriented business model, that is meeting a growing demand among a loyal base of recurring consumers,” said Thomas Punch, head of Creatd Ventures. “Between our shared resource model and the audience insights leveraged from Vocal and from our brand collaborations, we believe that Creatd Ventures offers a significant value proposition for up-and-coming brands like Brave. Here, we help creators become entrepreneurs, and enable them to unlock scale while growing sustainably.”
Creatd plans to continue pursuing acquisitions “that align with and complement the brands in our existing Ventures portfolio,” said Jeremy Frommer, executive chairman.“Brave is the latest example of this strategy coming to fruition, all while we continue building out our future target pipeline, and maintain active discussions with a number of other potential candidates,” Mr. Frommer said. “Given the momentum evident across all of Creatd’s business pillars, we believe our decision to take advantage of this financing opportunity was a prudent one, enabling the company to keep its foot on the gas pedal and continue riding our rapid pace of growth.”