Mensa Brands aims to build MYFITNESS into an INR 1,000 Cr brand in the next three-four years
Mensa Brands will help scale MYFITNESS in both existing and new markets across channels
MYFITNESS offers several health and fitness food products such as flavoured peanut butter, crispy peanut butter, and high-protein bars
D2C ecommerce roll-up unicorn Mensa Brands has acquired peanut butter brand MYFITNESS to make its foray into the health food category.
With this new association with Mensa Brands, MYFITNESS will work on expanding its footprint, launching new categories, scaling D2C, investing in brand-building, and expanding to global markets, a statement said.
However, the financial details of the deal were not disclosed.
MYFITNESS offers several health and fitness food products such as flavoured peanut butter, crispy peanut butter, and high-protein bars. Founded in 2019 by Mohammad Patel and Rahil Virani, MYFITNESS has its eyes on millennials, Gen Z, and sportsmen.
“We are thrilled about our partnership with the MYFITNESS team. MYFITNESS is a fast-growing consumer-loved brand and we will scale the brand to have an omni-channel global presence by leveraging our tech-led playbook,” Ananth Narayanan, founder, and CEO of Mensa Brands, said.
Narayanan said he is optimistic that Mensa Brands can turn MYFITNESS into an INR 1,000 Cr brand in the next three-four years.
Mensa Brands will help scale MYFITNESS in both existing and new markets across channels including D2C, ecommerce platforms, quick commerce platforms, and offline such as supplement stores, gyms, the statement said.
“We’re thrilled to be partnering with Mensa Brands, a market leader proven to exponentially scale brands. Together, I believe we can make MYFITNESS a global household name and serve hundreds of millions of happy consumers,” MYFITNESS CEO Patel said.
Currently, MYFITNESS has more than 30 SKUs with an average selling price of INR 500. It has sold over 7 Mn jars of peanut butter till now.
Mensa Brands has been on an acquisition spree this year. It entered the smart wearable segment by acquiring Noida-based wearable brand Pebble. Besides, it also acquired aromatherapy D2C startup Florona, and leather goods brand Estalon this year.
Mensa Brands is also in talks to acquire content commerce platform MensXP, and iDiva from Times Internet.
The Bengaluru-based unicorn, which is currently valued at $1 Bn, has raised $200 Mn in funding till now, according to an Inc42 report. It is backed by investors such as Accel Partners, Prosus, Tiger Global, Alpha Wave and Norwest Ventures, among others.