Maypro Industries, a leading global supplier of specialty nutritional ingredients, has completed a structured financing of Good Superfoods, LLC, a Boise, Idaho-based manufacturer of functional chocolate products, nutrition bars and powders.
Operating under a new corporate name, NutriWelle, the company will split into two divisions: one dedicated to private-label manufacturing; the other focused on marketing finished products under the Good Superfoods, Agami and Good Cacao brands.
“This investment partnership is the core of our growth strategy to expand into the functional foods business” said Dan Lifton, president of Maypro’s Proprietary and Branded Ingredients division. “It also represents our confidence in the management team and our desire to back the founder of the company to help take it to the next level.”
Paul Frantellizzi, NutriWelle’s CEO and founding partner, said, “We are delighted to welcome Maypro as our new strategic investor and partner. We see tremendous synergies between the two companies and look forward to leveraging Maypro’s sales capabilities to greatly expand our private-label business.”
“Maypro will offer NutriWelle’s products to our many worldwide customers and help our customers incorporate Maypro’s ingredients into functional foods which NutriWelle can produce for them,” said Steve Yamada, chairman and CEO of Maypro Group.