SAN FRANCISCO — Bobbie, a maker of clean label infant formula, has acquired Nature’s One, an Ohio-based pediatric nutrition company. Terms of the deal were not disclosed.
With the acquisition of Nature’s One’s formula production facility, Bobbie gains the ability to control its entire production process from sourcing raw materials to canning. The added capabilities will also allow Bobbie to provide for 15% of the non-WIC market, tripling the 5% of non-WIC consumers the company currently serves. Bobbie will continue to produce existing Nature’s One products under the Baby’s Only brand.
“From inception, Bobbie’s mission has been centered around evolving the infant formula industry, and this acquisition is one of the biggest diversification moves in this very concentrated industry,” said Laura Modi, chief executive officer and co-founder of Bobbie. “Owning end-to-end production while also continuing our valued partnership with Perrigo is critical as we scale and build the resiliency needed for the future.”
The formula maker is additionally closing a $70 million Series C funding round led by PowerPlant partners, building off a $50 million Series B round in 2022 to bring Bobbie’s total raised funds to $142 million.
“For us, success goes beyond creating an undeniably good formula, to forging a better path for the industry,” Ms. Modi said. “The future of formula means fundamentally changing the conversation on how we feed, it means innovating for the next generation and not the next quarter, it means building domestic supply chain resiliency so we don't experience another shortage, it means being a company that questions the status quo, because our babies deserve it.”
