Sugarbear Vitamin Care, a Fort Lauderdale-based vegan beauty and wellness brand, secured a strategic growth investment.
WHO: Sugarbear was founded in 2015 by Florida couple Nicole Nightly and Dan Morris. The company specializes in vegan vitamin-based solutions that are made in the US with organic and plant-based ingredients. The brand is known for their pastel-colored gummy bear-shaped vitamins. The iconic blue bear “Hair Vitamin” gummy has been the #1 gummy vitamin on Amazon since its Amazon launch in early 2016. Sugarbear products are sold globally online as well as in retail stores through partners such as Ulta and Target.
WHY: Sugarbear plans to expand its product offering from gummies to additional vitamin-infused innovations, delivering a 360-degree approach to beauty and wellness. The new investment will support the company's execution of its strategic vision, including the expansion of its leading market position in hair and other functional supplements and accelerated growth in domestic and international markets.
IN THEIR OWN WORDS: "We embarked on this journey six years ago by launching the first cruelty-free, plant-based 'Hair Vitamin' gummy with the goal to disrupt the vitamin industry, and believe it is the right time to bring on institutional partners to help accelerate our growth," said Nicole Nightly, CEO of Sugarbear. "We are incredibly grateful to have found the Nexus and Meaningful team who support our drive and commitment to first-to-market innovations, premium ingredients and user-friendly customer-focused solutions. Nexus and Meaningful's leadership team collectively has decades of experience that will help guide Sugarbear into the next phase of its growth. We are excited to get to work and look forward to bringing to market new products the Company has been developing over the last eighteen months."
“We are excited by the opportunity to partner with Nicole and the Sugarbear team in supporting the Company's continued success and evolution from a category-defining gummy vitamin brand into a more holistic beauty and wellness company," said Michael Cohen, Partner at Nexus. "Nicole is a true visionary and inspirational founder, and we look forward to our partnership as she continues to redefine wellness/beauty from the inside-out through her innovative products.”
“Nicole and the Sugarbear team's passion for bringing environmentally-friendly, high-quality products with a repeatable innovation process makes this an exciting partnership," said Amin Maredia, Managing Partner at Meaningful Partners. "We look forward to supporting Nicole's vision and bringing our collective operational experience to accelerate growth at Sugarbear.”
- Sugarbear Vitamin Care secured a strategic growth investment from an investor group comprised of Nexus Capital Management and Meaningful Partners.
- Kirkland & Ellis LLP represented Nexus and Meaningful Partners as legal counsel. Sugarbear was advised by Goodwin Proctor LLP on legal matters, and Deloitte Corporate Finance LLC served as exclusive financial advisor to the company on the transaction.
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