Mensa Brands acquires MyFitness, aims to build it into Rs 1000 cr brand
- ByStartupStory | September 13, 2022
On September 12, Mensa Brands acquired the very famous peanut butter brand ‘Myfitness’ to expand its portfolio of digital-first brands in the healthy food category.
The Myfitness’ product line-up contains variants of peanut butter such as high protein chocolate and crunchy ones. This collaboration is expected to strengthen the brand’s footprint and enable it to launch various new categories, scale up to D2C sales, invest in brand-building and expand to international markets.
Ananth Narayanan, Founder and CEO of Mensa Brands, said “This partnership not only allows us to play in the large and growing healthy food market, but does so by leveraging our existing capabilities. We believe we can build it into a Rs. 1,000 crore brand in the next 3-4 years,”
Mohammad Patel, CEO of Myfitness, said,We’re thrilled to be partnering with Mensa Brands, a market leader proven to exponentially scale brands. Together, I believe we can make Myfitness a global household name and serve hundreds of millions of happy consumers,”
It is worth noting,The market for peanut butter alone is worth Rs 600 crore and is growing at an average pace of over 30% per year as consumers switch to healthier alternatives to jams and spreads that are high in sugar.
The average selling price of the more than 30 SKUs offered by Myfitness is only Rs 500. The company that was launched three years ago has already sold over seven million jars of peanut butter.
About Myfitness
Founded in 2019, by Mohammad Patel and Rahil Virani, Myfitness has emerged as a category disruptor being the fastest growing peanut butter brand, able to acquire maximum new to category customers.The famous peanut butter brand in the healthy food category launched its first prototype in April 2018 and later on recreated the product as per the feedback from the consumers.
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