Cash Flow: Tony Robbins’ Boutique Is Crowdfunding, Plant-Based Packaging Wins Funds, The Primal Pantry Acquired

The game-changing investment, acquisition and funding news impacting the industry and driving the business of wellness this week.

Vericool raises $19.1m for plant-based packaging

Vericool, a manufacturer of environmentally-friendly packaging solutions, has announced the close of a $19.1m Series A round. According to the business, the funding will be used to meet the rapidly increasing demand for its products and increased business by customers across industries, including foodservice and pharmaceutical.

“The deal brings to the company investors with significant experience managing and financing rapid growth. Partnering with mission-aligned investors such as Radicle Impact Partners, The Ecosystem Integrity Fund, ID8 Investments and AiiM Partners will enable us to successfully take Vericool to the next level,” said founder Darrell Jobe

Nestlé Purina PetCare acquires natural pet food brand Lily’s Kitchen

Nestlé has added another wellness startup to its growing portfolio, with the acquisition of natural pet food brand Lily’s Kitchen. Speaking about the deal, Bernard Meunier, CEO, Nestlé Purina PetCare EMENA said: “Natural foods represents an exciting and rapidly expanding part of the pet care market, and this move reflects our desire to act on consumer trends and invest in high-growth categories.”

With the backing of L Catterton, Lily’s Kitchen has also recently expanded into the Middle East and Asia and already has a growing presence in France, Spain, Italy, Netherlands, Switzerland and Germany.

Tony Robbins backed fitness studio GRIT BXNG launches crowdfunding campaign

GRIT BXNG, a boutique fitness concept in New York delivering high-intensity, group fitness classes, is crowdfunding for equity. 

The Tony Robbins backed concept is aiming to raise $1.5m, which it says it will use to help fund a second location on Market Street in San Francisco and for GRIT At-Home — a new at-home product. 

The startup, which launched last year, has already raised $5m from high profile investors and reached $2m in gross revenue in just 6 months.

Nurture Brands acquires healthy snack startup The Primal Pantry

Plant-based snacking group Nurture Brands has agreed on a deal to buy The Primal Pantry — a London-based healthy snack brand.

The move will boost its existing portfolio of brands, which includes Rebel Kitchen, Emily’s Crisps and Ape Snacks.

“The Primal Pantry is a natural fit for Nurture Brands, sharing a common desire to make genuinely delicious, high-quality plant-based snacks,” said Ben Arbib, Founder of Nurture Brands. “The Primal Pantry becomes our first purchase of 2020 and demonstrates our intent to be a key player in plant-based consumer goods in the UK and beyond.”