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.