TerraVia and VMG collaborate to launch TerraBrands

TerraVia, in collaboration with a private equity fund VMG Partners, has launched the new TerraBrands.

The new launch combines VMG’s expertise and investment capital with TerraVia’s algae-based food and nutrition platform.

Formerly known as Solazyme, TerraVia has been investing with an aim to create a new algae-related understanding and expertise for over a decade.

VMG Partners managing director Michael Mauze said: "Algae is the mother of all plants and earth’s original superfood.

"Given the accelerating demand for plant-based nutrition, we are excited to be at the forefront of this next generation of foods and ingredients."

With the current venture, TerraBrands will aim to invest in or acquire established lower middle-market companies in the food, pet and nutrition sectors in a bid to expand its growth opportunities in attractive markets.

VMG Partners managing director Kara Cissell-Roell said: "We see a compelling opportunity to marry products and brands with TerraVia’s innovative, nutrient-rich ingredients in response to a rapidly growing consumer demand for healthy, environmentally sustainable food products that don’t sacrifice on taste."

Also, the founder and former CEO of Popchips Keith Belling will join the new team.

TerraVia founder and CEO Jonathan Wolfson said: "By bringing together VMG, TerraVia and Keith, we will help drive a new movement, recognising algae as a critical solution for plant-based eating and nutrition.

"We believe TerraBrands will also enable TerraVia to capitalise on the opportunity to create substantial value for our shareholders by focussing on select branded consumer opportunities."

It is expected that the collaboration will help the new TerraBrands in showing its expertise to help build lucrative businesses with strong brands and excellent management teams.