New Investors Join Clearlake and Halen Brands as partners to accelerate growth of leading plant-based protein beverage and functional nutrition brand
OWYN™ (Only What You Need), a leading brand in plant-based protein beverages and other functional nutrition products, has announced a growth investment round led by PowerPlant Ventures (“PowerPlant”). Terms were not disclosed. PowerPlant joins existing investors Clearlake Capital Group, L.P. (“Clearlake”) and Halen Brands, Inc. (“Halen Brands”). Clearlake acquired OWYN two years ago in partnership with Halen Brands, a better-for-you food and beverage brand accelerator and investor led by highly experienced entrepreneurs with deep relationships in the space.
OWYN’s flagship plant-based protein beverages contain only all-natural ingredients and are free from the top eight allergens. The beverage line uses a proprietary blend of flax, pea protein, and pumpkin seed as a protein source instead of the whey protein typically used in protein drinks. OWYN drinks are shelf stable and have roughly 20 grams of protein, less than four grams of sugar, and under 180 calories per serving. OWYN currently offers its protein drinks in six flavors including Dark Chocolate, Cold Brew Coffee, Smooth Vanilla, Cookie N’ Cream, Tumeric Golden Mylk, and Strawberry Banana, and recently expanded its line to include meal replacement shakes in Chocolate and Chai flavors.
The investment provides OWYN with additional capital to continue accelerating its growth as the company prepares to expand further into the conventional grocery channel next year. In the first quarter of 2020, OWYN expects to add new accounts including Albertsons/Safeway, Target, Publix, and Vons. The brand is also expanding in the drug store channel with CVS stores nationwide. In addition to its planned new accounts, OWYN is expanding placements in its existing retail partners, including Sprouts, Whole Foods and Vitamin Shoppe.