Private-equity firm Impact Capital has acquired a majority stake in US-based granola bar manufacturer Junkless Foods.
Financial details of the deal were not disclosed.
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In a statement, Impact Capital said it and Junkless Foods want to “build the brand into the next billion-dollar healthy snack platform”.
Established in 2018, Michigan-based Junkless Foods sells its granola bars through retailers including Walmart and Meijer, as well as via Amazon.
Impact Capital, set up by food and beverage entrepreneur Mike Repole, said it “saw tremendous potential” for Junkless Foods to become “a leading national brand, with incredible room for growth through innovation and distribution”.
“Everyone is looking for better-for-you versions of their favourite snacks – and that’s exactly what Junkless provides,” Repole, the co-founder of Vitaminwater and Bodyarmor, said.
Repole was also an early investor and board member in US snack-bar business Kind before to its sale to Mars.
Junkless was set up by Ernie Pang and Larry Beyer. Pang, the company’s chief executive, said: “We have poured our heart and soul into getting Junkless to where it is today but we knew we needed something more to take us to the next level.”
Just Food has asked if Pang is staying on as CEO.
