NextFoods Inc., the parent company of better-for-you beverage brands Cheribundi and GoodBelly, has raised $10 million in a funding round led by investment firm ECP Growth. ECP (Emil Capital Partners) has long been the largest investor in NextFoods and helped steer the 2023 merger with Cheribundi.
CPG marketing vet Mari Lee has found her next project as CMO of enhanced water brand Lemon Perfect, joining the business after a five-year stint at sports nutrition and energy drink maker Nutrabolt.
Longtime CPG investor Emil Capital Partners is now ECP Growth, as the private equity firm used the $100 million closing of its Fund IV yesterday to reveal its new name and strategy.
NextFoods, the maker of functional food and beverage brand GoodBelly, is merging the business with tart cherry juice producer Cheribundi. As part of the deal, announced today, NextFoods will remain as the majority shareholder of the combined entity, which will operate under the GoodBelly name. Venture capital firm Emil Capital Partners (ECP) is the company’s largest investor.
