Plant Protein Brand ALOHA Lands $68M


Bars are still big business.

The news: Securing $68M from growth equity firm SEMCAP Food & Nutrition, ALOHA aims to scale its sustainable plant-based protein bars, powders, and RTD beverages.

Buying out early investors, impact-driven SEMCAP adds the Climate Neutral Certified B Corp to a portfolio that includes Purely Elizabeth and Good Culture.

Along with fresh funds, ALOHA added former KIND Snacks exec Paul Kenny to its board.

Stacked. While highly competitive, the bar market is evergreen, and lucrative exits abound.

KIND sold to candy maker Mars for $5B, RXBAR to Kellogg for $600M, and Clif Bar to Mondelēz International for $2.9B. Health Warrior and Quest were acquired by PepsiCo and Simply Good Foods, respectively. And General Mills scooped up Epic.

Big Food’s buyouts mean there’s room for insurgent brands to craft the next wave.

  • Patrick Schwarzenegger’s MOSH, maker of adaptogenic brain health bars, raised $3M.
  • Keto, paleo, and vegan, IQBAR closed a Series B and entered Costco last year.
  • Innovating global flavors, Mezcla added $4M for its protein bars in January.

Meanwhile, RXBAR founders Jared Smith and Peter Rahal are back for seconds, with the former investing in chilled oat bar Mooski and the latter announcing the “David” protein bar this month.

Punchline: Consumers will never tire of new snacks. Bar brands can use functional ingredients and purposeful values to stand out, but reaching a tipping point takes strategic backing.

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