CAVU Venture Partners, a VC and growth equity firm started by CPG veterans known for backing and building iconic consumer brands, today announced that it has made a significant investment in ISS Research, LLC ('OhYeah! Nutrition' or the 'Company'). CAVU managing partners Brett Thomas and Rohan Oza will join the Company's board of directors to help capitalize on the popularity of the ONE Bar, a nutrition snack bar packed with 20 grams of protein while containing only one gram of sugar.
Based on ONE Bar's early success and potential for creating a platform for the snack nutrition market, the CAVU team recruited industry veteran Peter Burns to become the Company's President and CEO. Burns will be based out of the Company's Boulder, CO office and serve alongside founder and CEO Ron McAfee, Jr. to drive growth.
'We are thrilled to partner with Ron, and the addition of Peter and his team positions OhYeah! Nutrition to be the premier snack nutrition company,' said Brett Thomas, Managing Partner at CAVU. 'ONE Bar, the Company's best-selling brand, combines indulgent flavors with world-class nutrition. We believe 'permissible indulgence' is a long-term trend with a lot of room for growth, and ONE Bar is primed to capitalize on that opportunity.'
Ron McAfee, Jr., founder and CEO of OhYeah! Nutrition, added, 'I am excited to be partnering with CAVU Venture Partners as we begin our next phase of growth. CAVU's experience and strong track record in building iconic brands will help position the Company's infrastructure for growth and drive the expansion of the popular ONE Bar. In addition, I would like to welcome Peter and his team to the ONE Bar family. Peter is renowned for being a world-class operator, and his commitment to partnering with us is a strong endorsement of the opportunity ahead.'
Burns joins OhYeah! Nutrition from Justin's Nut Butter, where he served as President and CEO for three years and successfully led the company through its acquisition to Hormel Foods Corporation in 2016. Prior to joining Justin's Nut Butter, Burns was the President of Celestial Seasonings for Hain Celestial Group where he developed and managed the Celestial Seasonings worldwide business. He created business strategies and delivered 20 consecutive quarters of financial targets for the company. He also previously held positions including Chief Sales Officer for Hain Celestial Group U.S., Executive Vice President of Sales and Marketing at Jones Soda Company and Executive Vice President of Sales at IZZE Beverage Company.
'ONE Bar has exploded onto the snack nutrition market in the last year and a half with a highly differentiated offering,' said Peter Burns. 'The brand has significant upside to be realized through increased velocity, distribution gains and the exciting innovation pipeline Ron has developed. I have been fortunate to be a part of building several successful CPG brands and look forward to working with Ron, his team at OhYeah! Nutrition and the CAVU team on helping the business realize its tremendous growth potential.'
About OhYeah! Nutrition
ISS Research, LLC ('OhYeah! Nutrition' or the 'Company') is a line of leading sports nutrition products that includes bars, shakes, powders and supplements. The Company's primary focus going forward is on the hit snack nutrition bar called ONE Bar, whose name is derived due to 1g of sugar. The ONE Bar is distributed through leading specialty accounts, including Vitamin Shoppe, GNC, 24 Hour Fitness and independent nutrition retailers. OhYeah! Nutrition has offices in Charlotte, NC and Boulder, CO. For more information, please visit www.ohyeahnutrition.com
About CAVU Venture Partners
CAVU Venture Partners invests in high growth, iconic consumer brands, primarily better-for-you food and beverage companies. Founded by CPG Veterans Rohan Oza, Clayton Christopher, and Brett Thomas, CAVU looks to partner with passionate entrepreneurs with big visions. CAVU helps bring those dreams to fruition through know-how and deep industry contacts. For more information, please visit www.cavuventures.com.