Nutrabolt, the nutrition supplement maker behind Cellucor and C4, has taken a 20% ownership stake in health supplement maker Bloom Nutrition, part of a larger $90 million financing that sees Deep Eddy Vodka founder Clayton Christopher and consumer investment firm Amberstone also coming onboard.
After establishing initial traction with athletes and fitness enthusiasts, Nutrabolt has gradually branched out into mainstream retail and introduced new lines, like the cognition-boosting C4 Smart Energy.
Aligning with Bloom gives Nutrabolt a foothold with female consumers in the broader health and wellness space; along with its top-selling Greens powder (itself championed by TikTok influencers), the company offers pre-workout, protein powders, and collagen creamers both online and, as of last year, at retailers like Target, Walmart and GNC. The company collaborated with Vita Coco on a promotion for its Greens & Superfoods stick packs earlier this year.
According to a press release, the investment will “provide strategic growth capital to fuel and accelerate many key areas of Bloom’s business – namely demand-generation activities, product innovation, and expanding internal capabilities to support the growing business.”
“When we started this company, we could’ve never imagined building such a huge community, and inspiring so many to begin their wellness journeys. Our goal at Bloom has always been to help everyone ‘bloom’ into their best selves through nutritious and delicious supplements. It’s an incredible honor to have Nutrabolt join us in extending our mission further,” said Mari Llewellyn, who co-founded Bloom with Greg LaVecchia in 2019. Both will remain on the company’s board.
Commenting on the investment, Nutrabolt’s Chairman and CEO Doss Cunningham praised the duo as “outstanding entrepreneurial founders” who have built a strong business, while adding ”there is still tremendous whitespace to pursue in the form of new product platforms and distribution opportunities.”
Christopher, a CPG veteran and an existing investor in Nutrabolt through The Family Fund, will join the company’s board of directors, alongside Cunningham. Amberstone – whose portfolio includes investments in CPG brands like Honey Mama’s, Partake Brewing and June Shine – also participated in the funding round.
Nutrabolt’s first minority investment is unlikely to be its last, according to CPG consultant and sports nutrition category watcher Joshua Schall.
“Nutrabolt wants to build the health and wellness version of The Kraft Heinz Company,” he wrote in an email. “While some portfolio expansion might come from internal brand development, I believe most will happen because of accretive deal making that extends Nutrabolt into more key consumer-driven wellness platforms.”
Calling it “one of the most buttoned up companies I’ve seen coming from the sports nutrition space,” Schall noted “if applied in the right manner, [Nutrabolt’s] decision-making maturity should be helpful during Bloom’s aggressive scaling phase.”
Jeffries LLC served as financial advisors to Nutrabolt with Goodwin Proctor LLP, and Polsinelli acting as legal counsel to the company. Intrepid served as financial advisors to Bloom Nutrition with Buchalter and Giannuzzi Lewendon acting as legal counsel.