Organic nutrition products maker to be acquired

Orgain
Orgain to sell a majority stake in the company to Butterfly.

LOS ANGELES – Orgain, a manufacturer of organic nutrition products, will be acquired by Butterfly. The Los Angeles-based private equity firm specializes in the food sector.

Earlier this month, both companies announced Butterfly had signed an agreement to purchase a majority stake in the company. Orgain’s Founder Dr. Andrew Abraham, M.D. will retain a significant minority ownership position and will continue as Chief Executive Officer.

“We are excited about this next phase of growth for our brand, the ability to expand globally, and the opportunity to inspire so many more healthy, vibrant lives,” Abraham said in a statement.

A cancer survivor, Abraham launched Orgain in 2009 with the industry’s first organic ready-to-drink nutrition shake.

According to Orgain’s website, Abraham was diagnosed with a rare and aggressive form of cancer in his teens.

“During chemo and radiation, I lost my appetite entirely and experienced alarming weight loss,” he said. “When my doctors recommended nutrition shakes to get my weight up, the only options available were full of unhealthy and synthetic ingredients. So my mother and I started making our own organic shakes at home.

“The power of clean nutrition stayed with me as I entered my medical career. As I treated patients, I was consumed by the idea that I could help millions more people a day by bringing a healthier, organic nutrition shake to the market.”

Abraham took that desire to help others and quit his medical practice to start Orgain.

Since then, the company has produced numerous organic nutrition products from protein powders to shakes and bars.

Ontario Teachers’ Pension Plan, a limited partner of Butterfly, will also be a new minority investor alongside Butterfly and Abraham.

Packaged Food Giant Buys Plant-Based Nutrition Product Maker Vega

Vega, vegan, plant-based nutrition
Vega, vegan, plant-based nutrition
Photo: Vega

DENVER, CO — Consumer foods giant WhiteWave Foods Co. has agreed to buy Vega, maker of plant-based natural health and performance nutrition products, for approximately $550 million.

Vega’s plant-based nutrition products complement our plant-based foods and beverages portfolio. With its strong brand, high-quality products, and commitment to innovation and sustainability, Vega is a perfect fit for WhiteWave,” said Gregg Engles, Chairman and Chief Executive Officer of WhiteWave.

The acquisition is part of the company’s strategy to expand certain niche and growing categories like its plant-based nutrition products.

Vega’s plant-based, gluten-free nutrition products – primarily nutritional shakes and bars – contain nutrient-dense, whole food ingredients, the company says.

The deal is expected to close later this year, and Vega’s headquarters will remain in Vancouver.

Virtual Nutritionist and Meal Planner Goes Mobile

Eat This Much app, virtual nutritionist, meal planner
Eat This Much app, virtual nutritionist, meal planner
Photo: Eat This Much

LOS ANGELES, CA — Healthy eating not only requires discipline but a little bit of planning. An automated nutrition and meal planning service from Los Angeles-based Eat This Much seeks to make that effort easier, especially for folks on the go, with the launch of its first app for the iPhone.

“There is a huge barrier between knowing how you want to eat and the iterating on the many steps required to accomplish your goals, such as calorie counting, getting the right groceries, and selecting recipes. Eat This Much takes all the hassle and monotony out of reaching your desired health outcomes,” said Louis Dementhon, Eat This Much CEO and Founder.

According to the company, it has over 180,00 users who have created over 13 million custom meal plans.

Founded in 2013, Eat This Much tailors meal plans to any diet, constantly adapting to users’ tastes and budget by accessing 200,000 foods and more than 1,500 curated recipes. Features also included on the app are the ability to track gluten-free, dairy-free or vegetarian diets, with suggestions for incorporating leftovers and preferred ingredients. The free iOS app can be downloaded from the App Store.

Google Reveals Wearable Device for Medical Research

Google x wristband, wearable device, health tracker
Google x wristband, wearable device, health tracker
Photo: Bloomberg/video capture

MOUNTAIN VIEW, CA — Google recently revealed a wearable device similar to Fitbit but aimed at the medical research market, not consumers, according to published reports.

The health-tracking wristband will “measure pulse, heart rhythm and skin temperature, and also environmental information like light exposure and noise levels,” Bloomberg says.

The device was created by the life sciences division of Google’s super-secret lab, Google X.

Fitness Tracker Fitbit Has Healthy Debut On Wall Street

fitbit surge, fitness tracker, wearable device
fitbit surge, fitness tracker, wearable device
Photo credit: Fitbit

SAN FRANCISCO, CA — Tracking fitness is not only trendy but profitable as the wearable device leader Fitbit burst onto Wall Street with a healthy debut.

Trading under the symbol “FIT,” the company offered 36,575,000 shares of its Class A common stock in its New York Stock Exchange opening. According to the Wall Street Journal, shares for its initial public offering (IPO) jumped to $30.40, 52% above its expected  price of $20.

Founded in 2007 Fitbit, which sells a variety of activity trackers and wristbands and the Fitbit Aria Wi-Fi Smart Scale, has a number of high-profile admirers including President Barack Obama who was spotted wearing the Fitbit Surge in March of this year.