Brand New Brands, Inc. to develop 'functional' foods & beverages
The first Brand New Brands expected to premier in test markets in late 2005.
15/02/05 Function is the future of food. That's the basic proposition behind Brand New Brands, Inc., a new company formed to develop great-tasting food and beverage products that incorporate health-promoting ingredients.
Backed by leading investors in the health and wellness sector, Brand New Brands has raised $15 million in venture capital from Burrill & Company, Great Spirit Ventures, Unilever Ventures and Prolog Ventures.
The new company has blossomed from the talents and expertise of three co-founders who combine a wealth of food and nutrition experience and a passion to bring healthier products to market: Greg Horn, former CEO of General Nutrition Centers; Pete Mattson, Chairman of Mattson & Company, a leading food products developer, and William Rosenzweig, co-founder and former CEO of the Republic of Tea and former Executive VP at Odwalla. Rosenzweig will serve as the company's CEO.
Proven brands will be spun off into stand-alone companies that ultimately will be sold once they reach appropriate size and scale.
The first Brand New Brands are expected to premier in test markets in late 2005.
Brand New Brands' mission is to develop and market innovative functional food and beverage products that combine great taste and convenience with clinically proven health benefits -- products that taste good and are good for you. Founded in 2004 by a trio of nutrition and natural-food industry veterans, Brand New Brands plans to capture a share of the $20 billion functional food market being fueled by aging baby boomers and consumers proactively involved in promoting health and wellness through nutrition. The privately held company is headquartered in Mill Valley, California.
