Mensa Brands, a direct-to-consumer (D2C) company, announced on Monday that it has acquired healthfood startup MyFitness for an undisclosed sum, with the goal of growing it to a Rs 1,000 crore brand in the next three to four years. The acquisition will assist Mensa Brands in launching new categories, scaling D2C, investing in brand development, and expanding into global markets.
"MyFitness is a fast-growing consumer-loved brand and we will scale the brand to have an omni-channel global presence by leveraging our tech-led playbook. We believe we can build MyFitness into a Rs 1,000 crore brand in the next three-four years," stated Ananth Narayanan, Founder and CEO of Mensa Brands.
MyFitness, founded in 2019 by Mohammad Patel and Rahil Virani, is popular among fitness enthusiasts, Millennials, Gen Z, and athletes. MyFitness is the first company in India to introduce a chocolate variant of Peanut Butter, as well as the world's first crispy Peanut Butter. It is also the official snacking partner of the Indian Premier League's Punjab Kings and Delhi Capitals.
"We're thrilled to be partnering with Mensa Brands, a market leader with a proven track record of exponentially scaling brands," Patel said. MyFitness currently has over 30 SKUs (stock keeping units) with a Rs 500 average selling price.
Mensa Brands is backed by global investors such as Accel Partners, Falcon Edge Capital, Norwest Venture Partners, Prosus, and Tiger Global Management, and was founded by Narayanan, the former CEO of Myntra and Medlife.