Bone Broth Manufacturer Ancient Nutrition Gets $103M Investment
01 、 Dive Brief: Ancient Nutrition, a manufacturer of chicken-based bone broth protein supplement products, announced it has sold a $103-million minority stake to VMG Partners, Hillhouse Capital, CONIQ Capital, and more than 100 members of a co-investor network. The company said it plans to use its first outside investment to accelerate growth through social media outreach, more in-store demos and continued support for direct-to-consumer e-commerce. Ancient Nutrition achieved a 266% compound annual growth rate from 2013-2017 and contributed $10 million — or more than 40% — to total category growth, the company said. Its GMO- and gluten-free lineup of 80 products contains no dairy, soy, grains or nuts and are sold at Whole Foods Market, Sprouts, specialty retailers nationwide and online. The company was co-founded in 2016 by Jordan Rubin, who also founded Garden of Life and Beyond Organic, and Dr. Josh Axe, a natural medici...