Now touting over $60 million in annual retail dollar sales, “clear protein hydration” producer Protein2o has welcomed in Chris Pruneda as the company’s new CEO, alongside several other executive appointments.
Pruneda, who previously served as the Chief Commercial Officer of protein brand Koia and most recently as CEO and co-founder of Matador Energy, quietly joined Protein2o back in April, he said in a call this week.
The appointment comes as Protein2o is in the process of finalizing a $5 million funding round led by existing investors with the aim of expanding its presence in retail past its current 10,000 door footprint, as well as supporting the launch of new products such as upcoming low calorie line P2X.
“As I got to know the brand, I went out and bought some product and I was just really blown away by what I was discovering,” Pruneda said. “Like, why hasn’t this grown quicker? Why haven’t I seen this before?”
At Koia, where Pruneda spent over three years first as CMO before moving into the CCO role in 2022, he helped oversee the protein shake maker’s growth from 4,000 to over 25,000 doors nationwide. However, Pruneda said that brand was limited by being cold chain (though they’ve since added shelf-stable options) and Protein2o has the benefit of being able to grow in coolers and on dry shelves simultaneously.
“I love the protein space, I love the nutrition space and I love, obviously, the better-for-you space and trying to find ways, not only to grow the current business, but to have this elite extension that’s even more ‘clean-deck,’ that can also compete in the natural channel,” Pruneda said.
Alongside Pruneda, the business has also brought on longtime Atkins Nutritionals chief customer officer Jill Short-Clark as its Chief Sales Officer and former Rowdy Mermaid CFO and COO Matt Opperman in the same position here. The new additions bring Protein2o’s full time team to 14 people, Pruneda said.
Retail Expansion Underway
In retail, Protein2o is currently sold in chains like Target, Walmart, HyVee and Meijer among other regional accounts. Pruneda now wants to double the 10,000 door count next year, beginning with deeper distribution into Target and new accounts like Wegmans and H-E-B coming online.
And the other new additions to the executive team will be pivotal to make that happen.
“There’s not a buyer or a relationship, a distributor, a broker that [Short-Clark] hasn’t had direct experience with, doesn’t have deep knowledge of,” Pruneda said.
“And then Matt Opperman and his operations experience – he did tremendous things for hemp back in the day at Caveman Foods and is just incredible from both an operations and CFO standpoint. So we’re already entering big conversations with some of the bigger and best co-manufacturers in the market and obviously on the supply side too.”
The executive expansion, he said, follows a relatively recent change in board leadership as investor and CytoSport co-founder Chris Running came on as chairman two years ago and spearheaded the push to grow the brand team.
As well, longtime Protein2o president Andy Horrow is in the process of stepping away from his role, citing “life changes,” Pruneda said. However, he credited Horrow with being “incredibly helpful in helping me with my transition in, and continues to be a resource” for the company.
Plotting Future Innovation
Protein2o is preparing to launch its P2X line next spring. The innovation will feature added functionality and unique protein blends, including additions such as collagen and creatine.
P2X will include powders and shots, and the company is also “looking at other, different kind of protein: snackable,” Pruneda said. He noted that Protein2o is currently researching formats such as gummies and bars for other potential additions.
“Some of that will live and be launched DTC-only, some that will immediately go to retail,” he said. “It’s going to be kind of a functional protein portfolio play and we’re excited about what we’re going to be offering consumers.”