Paine Schwartz Acquires Promix Nutrition and Supplements Business
Private equity firm Paine Schwartz Partners recently bought Promix LLC, a marketer of low sugar/high-protein bars, protein mixes, nutritional supplements and vitamins. Financial terms were not disclosed.
Founded in 2014, Promix is headquartered in Gainesville, Fla., and produces and markets “high-quality and clean ingredient” (“No Artificial Anything”) nutritional products. All formulas are owned and developed in-house, with the supply chain controlled by Promix. Products are free of fillers, gums, hormones, glyphosate, GMO, gluten, soy, antibiotics and hormones.
Currently, the company’s products are sold through direct-to-consumer channels, Amazon and small wholesalers, although Paine Schwartz’s announcement promised channel expansion. Promix’s Founder and CEO Albert Matheny, Co-Founder and Chief Brand Officer Devon Levesque and Chief Operating Officer Ryan Lockwood will continue to lead the business.
Paine Schwartz also has invested in Suja Life and Urban Farmer.
About the Author
Dave Fusaro
Editor in Chief
Dave Fusaro has served as editor in chief of Food Processing magazine since 2003. Dave has 30 years experience in food & beverage industry journalism and has won several national ASBPE writing awards for his Food Processing stories. Dave has been interviewed on CNN, quoted in national newspapers and he authored a 200-page market research report on the milk industry. Formerly an award-winning newspaper reporter who specialized in business writing, he holds a BA in journalism from Marquette University. Prior to joining Food Processing, Dave was Editor-In-Chief of Dairy Foods and was Managing Editor of Prepared Foods.