Direct-to-consumer house of brands -- Mensa Brands-- has acquired peanut butter maker MYFITNESS to make inroads into the health food category. Through this partnership, Mensa Brands will bolster the brand's footprint, launch new categories, scale D2C business, invest in brand building and expansion into global markets.
Mensa Brands will scale MYFITNESS into existing and new channels like D2C, e-commerce platforms, quick commerce platforms and offline (supplement stores, gyms, etc.). MYFITNESS offers over 30 products including flavoured peanut butter, crispy peanut butter and high-protein bars with an average selling price of Rs 500.
Commenting on the acquisition, Mensa Brands founder and CEO Ananth Narayanan said, “This partnership not only allows us to play in the large and growing healthy food market, but does so by leveraging our existing capabilities. We believe we can build MYFITNESS into a Rs 1,000 corre brand in the next 3-4 years.”
MYFITNESS CEO Mohammad Patel noted, “Together, I believe we can make MYFITNESS a global household name and serve hundreds of millions of happy consumers.” Founded in 2019 by Mohammad Patel and Rahil Virani, MYFITNESS has sold over 7 million jars of peanut butter and is also the snacking partner of IPL teams– Punjab Kings and Delhi Capitals.
The peanut butter market is worth Rs 600 crore and growing at over 30 per cent compounded annual growth rate (CAGR).
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