Direct-to-consumer brand house — Mensa Brands — has acquired peanut butter maker MYFITNESS to break into the health food category. Through this partnership, Mensa Brands will strengthen brand footprint, launch new categories, expand D2C business, invest in brand building and expansion into global markets.
Mensa Brands will extend MYFITNESS to existing and new channels like D2C, e-commerce platforms, quick and offline commerce platforms (supplement stores, gyms, etc.). MYFITNESS offers more than 30 products including Flavored Peanut Butter, Crunchy Peanut Butter and High Protein Bars with an average selling price of Rs 500.
Commenting on the acquisition, Mensa Brands Founder and CEO, Ananth Narayanan, said, “This partnership not only allows us to play in the large and growing healthy food market, but does so by leveraging our capabilities existing. We believe that we can make MYFITNESS a corre Rs 1,000 brand in the next 3-4 years.
MYFITNESS CEO Mohammad Patel said, “Together, I believe we can make MYFITNESS a household name around the world and serve hundreds of millions of satisfied consumers.” Founded in 2019 by Mohammad Patel and Rahil Virani, MYFITNESS has sold over 7 million jars of peanut butter and is also the snacking partner of IPL teams – Punjab Kings and Delhi Capitals.
The peanut butter market is worth Rs 600 crore and growing at over 30% Compound Annual Growth Rate (CAGR).