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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Media contact:Konnect PRMolly
Moreymmorey@konnect-pr.comwww.konnect-pr.comorInvestor relations
contacts:TerraViaBryce Dille, CFAInvestor
Relations650-416-5060orJMSC GroupJeff
Majtyka646-776-0886jeff@jmscgroup.com