Velocity Snack Brands buys Popchips
VMG Partners, a private equity firm specializing in building consumer brands in the food and beverage categories, announced the debut of a new branded snacking platform, Velocity Snack Brands (VSB).
The platform will acquire, incubate and grow a portfolio of leading snack brands, beginning with the acquisition of the popchips™ brand in North America and most international markets outside of the United Kingdom and Europe. VSB will be headquartered in Los Angeles and led by CEO, Amit Pandhi, who was most recently President and CEO of Arctic Zero, a better-for-you frozen desserts brand.
Founded in 2005, VMG’s depth of experience investing in, scaling, and exiting consumer packaged goods businesses, the company identified an immense opportunity in the market for a platform like VSB.
VSB, will house a portfolio of brands that meet an array of consumer needs and usage occasions, providing a single source for retailers across brick and mortar and digital channels. Platforms like VSB will be dynamic, nimble and flexible, as small start-ups are, but will also bring best practices, experience and expertise, such as that of larger, more corporate entities, without the cumbersome standards and processes that can hinder growth potential.
As part of a cohesive business model, VSB will provide founders and entrepreneurs of snacking brands the opportunity to build upon initial momentum while also creating a springboard for category-leading innovation and seamless omni-channel execution. In the years to come, VSB will invest broadly in snacking across salty, sweet and nutrition bar categories, with popchips as the initial brand leading this endeavour.
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