Sugarbear Vitamin Care has received strategic growth investments from Nexus Capital Management LP and Meaningful Partners LLC. Terms were not disclosed.
The investment will support Sugarbear's plans to expand its product offering from its vegan beauty gummies to additional vitamin-infused innovations.
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Kirkland & Ellis LLP represented Nexus and Meaningful Partners as legal counsel. Sugarbear was advised by Goodwin Proctor LLP on legal matters, and Deloitte Corporate Finance LLC served as exclusive financial adviser to the company on the transaction.
"We embarked on this journey six years ago by launching the first cruelty-free, plant-based 'Hair Vitamin' gummy with the goal to disrupt the vitamin industry, and believe it is the right time to bring on institutional partners to help accelerate our growth," said Nicole Johnson, CEO of Sugarbear. "We are incredibly grateful to have found the Nexus and Meaningful team who support our drive and commitment to first-to-market innovations, premium ingredients and user-friendly customer-focused solutions. Nexus and Meaningful's leadership team collectively has decades of experience that will help guide Sugarbear into the next phase of its growth. We are excited to get to work and look forward to bringing to market new products the company has been developing over the last 18 months."
"We are excited by the opportunity to partner with Nicole and the Sugarbear team in supporting the company's continued success and evolution from a category-defining gummy vitamin brand into a more holistic beauty and wellness company," said Michael Cohen, partner at Nexus. "Nicole is a true visionary and inspirational founder, and we look forward to our partnership as she continues to redefine wellness/beauty from the inside-out through her innovative products."
"Nicole and the Sugarbear team's passion for bringing environmentally-friendly, high-quality products with a repeatable innovation process makes this an exciting partnership," said Amin Maredia, managing partner at Meaningful Partners. "We look forward to supporting Nicole's vision and bringing our collective operational experience to accelerate growth at Sugarbear."