VMG Partners, a private equity fund focused exclusively on partnering
with emerging branded consumer product companies, and TerraVia™
(NASDAQ:SZYM), formerly known as Solazyme, Inc., a visionary leader in
algae-based food, nutrition and specialty ingredients, announced today
the launch of TerraBrands™. The new venture combines VMG’s
expertise, investment capital and success investing in leading consumer
brands such as KIND, Vega, Pretzel Crisps, Justin’s, Health Warrior and
Solid Gold Holistic Pet Food, to name just a few, with TerraVia’s
innovative algae-based food and nutrition platform. Additionally, Keith
Belling, the founder and former CEO of popchips, will be joining the
team, bringing his expertise in building brands and teams to the
partnership.
Over more than a decade, TerraVia has invested in developing a unique
understanding and expertise around algae, resulting in an innovative
suite of algae-based food, nutrition and specialty ingredients with
successful regulatory review and validation by major CPGs and
cutting-edge consumer brands. By deploying VMG’s brand-building
expertise and investment capital, TerraVia’s proprietary and disruptive
algae-based ingredients, and Keith Belling’s marketing and
brand-building expertise, TerraBrands™ will target investing in or
acquiring established lower middle-market companies in the food, pet and
nutrition segments to drive differentiated positioning and compelling
growth opportunities in attractive categories.
“Algae is the mother of all plants and earth’s original superfood. Given
the accelerating demand for plant-based nutrition, we are excited to be
at the forefront of this next generation of foods and ingredients,” said
Michael Mauze, Managing Director of VMG Partners. Kara Cissell-Roell,
Managing Director of VMG Partners, said, “We see a compelling
opportunity to marry products and brands with TerraVia’s innovative,
nutrient-rich ingredients in response to a rapidly growing consumer
demand for healthy, environmentally sustainable food products that don’t
sacrifice on taste.”
Jonathan Wolfson, the founder and CEO of TerraVia, said, “We’re excited
to work with VMG, one of the world’s most successful private equity
firms in building cutting-edge food and nutrition brands, and which also
recently invested in our transformation from Solazyme to TerraVia. I am
also thrilled that Keith has agreed to take a key role in this venture,
as he is not only a brilliant marketer but also a proven category
creator. By bringing together VMG, TerraVia and Keith, we will help
drive a new movement, recognizing algae as a critical solution for
plant-based eating and nutrition. We believe TerraBrands™ will also
enable TerraVia to capitalize on the opportunity to create substantial
value for our shareholders by focusing on select branded consumer
opportunities.”
The combined team will put TerraBrands™ in an excellent position to
leverage unique relationships and expertise and build great businesses
with strong brands, excellent management teams, strategic focus and
go-to-market strategies for its portfolio of partner companies. “Working
with TerraVia and VMG to build TerraBrands™ represents a unique
opportunity to help drive the creation of an exciting new category in
food that truly delivers on nutrition, taste and sustainability,” said
Belling, who in his tenure with popchips helped lead the next generation
in better-for-you snacking.
About VMG Partners
VMG Partners is focused solely on partnering with entrepreneurs and
managers to support the growth and strategic development of branded
consumer products companies in the lower middle market. Since its
inception in 2005, VMG has provided financial resources and strategic
guidance to drive growth and value creation in more than 20 companies.
VMG's defined set of target industries includes food, beverage,
wellness, pet products, personal care and household products
brands. Representative past and present partner companies include KIND
Healthy Snacks, Pretzel Crisps, Pirate's Booty, Waggin' Train, Natural
Balance, Vega, Babyganics, Solid Gold, Health Warrior, Perfect Bar and
Justin's. VMG Partners is headquartered in San Francisco. For more
information about the fund please visit www.vmgpartners.com.
About TerraVia™
TerraVia™ (formerly Solazyme®) is a next generation food, nutrition and
specialty ingredients company that harnesses the power of algae, the
mother of all plants and earth’s original superfood. With a portfolio of
breakthrough ingredients and manufacturing, the Company is well
positioned to help meet the growing need of consumer packaged goods and
established and emerging food manufacturers to improve the nutritional
profile of foods without sacrificing taste, and to develop select
consumer brands. The Company also manufactures a range of specialty
personal care ingredients for key strategic partners. Headquartered in
South San Francisco, the Company’s mission is to create products that
are truly better for people and better for the planet. For additional
information, please visit TerraVia’s website at www.terravia.com.
Forward-Looking Statements
This press release contains certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
about Solazyme, including statements that involve risks and
uncertainties concerning: the launch of TerraBrands™, its team members
and customer and consumer acceptance of algae-based foods; the
attributes of algae-based foods, including as to nutrition, taste and
environmental sustainability; its ability of to bring value to customers
and shareholders; its ability to successfully negotiate and execute
definitive agreements related to the TerraBrands™ venture; business and
commercialization plans for companies in which TerraBrands™ invests and
the success thereof; successful product trials and market acceptance and
adoption of products and companies in which TerraBrands™ invests; and
its ability to maintain relationships with partners. When used in this
press release, the words "will", "expects", "intends" and other similar
expressions and any other statements that are not historical facts are
intended to identify those assertions as forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of
1995. Any such statement may be influenced by a variety of factors, many
of which are beyond the control of Solazyme, that could cause actual
outcomes and results to be materially different from those projected,
described, expressed or implied in this press release due to a number of
risks and uncertainties. Potential risks and uncertainties include,
among others: Solazyme's limited operating history; Solazyme’s limited
history in launching and commercializing products; commercial risk in
deploying new products; its ability to successfully develop and
commercialize new products; its ability to sell products at a profit;
its ability to successfully enter into the venture and maintain
strategic collaborations; the success of the TerraBrands™ venture;
successful product trials by customers and market acceptance and
adoption of products by end-users; the ability to obtain requisite
regulatory approvals for products; and its access, on favorable terms,
to any required financing. Accordingly, no assurances can be given that
any of the events anticipated by the forward-looking statements will
transpire or occur, or if any of them do so, what impact they will have
on the results of operations or financial condition of Solazyme.
In addition, please refer to the documents that Solazyme, Inc. files
with the Securities and Exchange Commission, including its Annual Report
on Form 10-K and Quarterly Reports on Form 10-Q, as updated from time to
time, for a discussion of these and other risks. You are cautioned not
to place undue reliance on forward-looking statements, which speak only
as of the date of this press release. Solazyme is under no duty to
update any of the information in this press release.
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