Bobbie, a US infant formula company, has recently completed the acquisition of Nature’s One, a pediatric nutrition company based in Ohio. The financial details of the transaction remain undisclosed.
The acquisition will support Bobbie in meeting its “full growth potential” while strengthening domestic manufacturing. It follows less than three years after Bobbie’s launch.
Bobbie plans to sustain the production of Nature’s One products under the Baby’s Only brand for the foreseeable future.
Founded in 2019 with the objective of creating secure and nourishing infant formula, Bobbie has recently constructed an infant formula facility, marking the first of its kind in the United States in the past four decades. This state-of-the-art facility empowers Bobbie with comprehensive oversight of the manufacturing process, starting from sourcing raw materials to production and canning.
Laura Modi, Bobbie CEO and co-founder, said, “From inception, Bobbie’s mission has been centred around evolving the infant formula industry, and this acquisition is one of the biggest diversification moves in this very concentrated industry. There is no one better suited to help us pursue this vision than Nature’s One’s founder, Jay Highman – he revolutionised the industry decades ago with his dedication to purity, accessibility, and safety, and this best-in-class facility is no exception. Owning end-to-end production while also continuing our valued partnership with Perrigo is critical as we scale and build the resiliency needed for the future.”
Highman commented, “Nature’s One takes great pride in our evidence-based approach from the ingredients, to the state-of-the-art facility, and the team that has spent years to ensure our formula is safe, nutritious, and accessible for families. By handing the keys to Bobbie, it helps grow our reach and carries forward our message of purity.”
He will remain as Nature’s One’s executive director and will be a key shareholder in the combined entity, alongside Juggernaut Capital Partners, a majority investor.
The company is currently securing funding for its Series C round, which involves active participation from a number of Bobbie’s current investors. This serves as a testament to the unwavering support and confidence of these investors in Bobbie’s potential to consistently revolutionize an industry that is particularly primed for transformation.
Olivia Walton, Founder and CEO of Ingeborg Investments, said that the acquisition positions Bobbie to become a “market leader” in high-quality baby formula and to reach millions more customers who are seeking “better options to feed their babies”.
George Birman, principal at Powerplant Partners, said, “We believe Bobbie is leading a new generation of thinking when it comes to the vitally important areas of infant and child nutrition; in addition to making the highest quality product, Bobbie is unique in its understanding of the challenges and choices faced by modern parents, and as a result is becoming a household name. As investors in consumer brands, we are proud to leverage our category and operating expertise to support the company in the years ahead.”
The Bobbie team has grown from a team of two co-founders to a team of over 100 employees, since its inception.
Financial details of the acquisition were not disclosed.
