SAN FRANCISCO — Farmhouse Inc., a company focused on technology, IP, beverages and consumer products, has agreed to acquire Thrown, LLC, the parent company of Nappy Boy Dranks — a functional beverage company founded by T-Pain, a Grammy Award-winning artist, entrepreneur and chief executive officer of Nappy Boy Dranks. Financial terms of the acquisition were not disclosed.
Under the terms of the agreement, Farmhouse said it will acquire all membership interests of Thrown in exchange for approximately 25% of Farmhouse’s total issued shares post-closing.
Thrown’s management personnel will operate under Farmhouse’s ownership. Farmhouse also must secure up to $10 million in financing, with 80% allocated to Thrown for working capital, according to the company.
“Acquiring Thrown positions Farmhouse at the forefront of this expanding sector,” said Evan Horowitz, chief executive officer of Farmhouse. “With T-Pain's vision and leadership driving innovation, I’m confident Nappy Boy Dranks will become a positive force in the industry.”
The companies said the acquisition and T-Pain’s influence will enable them to expand Nappy Boy Drinks into the energy beverage market.
The company’s first product is a 2-oz energy shot that is formulated with Nappy Boy Dranks’ T-Mix Blend.
“Nappy Boy Dranks is all about bringing good energy to everyone,” T-Pain said. “Whether you’re a gamer, creator, or hustling every day. I want people to feel good, play good, and stay focused. I’m excited to share this with the world.”Enjoying this content? Learn about more disruptive startups on the Food Entrepreneur page.