Bansk Group is set to add US-based wellness shots maker So Good So You to its portfolio of consumer brands.
In a statement yesterday (24 March), the private investment firm said it has signed a definitive agreement to acquire a majority stake in Minnesota-based So Good So You.
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Financial terms were not disclosed.
So Good So You co-founders Rita Katona and Eric Hall will remain equity holders in the business and retain their seats on the board.
Prelude Growth Partners, which held a minority stake in the company, will exit as part of the transaction.
In its statement, Bansk said the investment is will enable the brand to “further expand distribution” and “drive innovation”.
Bansk Group senior partner and chief investment officer Brian O’Connor said: “Consumers are increasingly seeking convenient, food-as-medicine solutions that fit seamlessly into their daily routines.
“So Good So You has been instrumental in developing the category through its high-quality products, continued sales and marketing investments, and exciting innovation across function, flavour, and format.”
Founded in 2014, So Good So You markets a range of functional, refrigerated wellness shots.
The line looks to support consumers with “everyday needs” such as “immunity, energy, digestion and focus”. The products blend fruit and vegetable juices with added functional ingredients such as probiotics, vitamins and adaptogens.
Over the past four years, So Good So You recorded a “more than fivefold” increase in sales, the statement said. Citing SPINS data, it adds the group is the top-selling wellness shot brand across total US multi-outlet channels.
So Good So You produces its shots in Minneapolis at what is described as a “certified zero-waste facility” powered by renewable energy. The company is also pushing beyond shots, recently launching a line of sparkling energy drinks nationally with Target.
Co-founder and CEO Eric Hall said: “Bansk is deeply aligned with our core values around sustainability and investment in people, and their track record of scaling purpose‑driven consumer brands makes them the ideal partner for So Good So You’s next chapter.
“With Bansk’s support, we look forward to expanding our reach and continuing to deliver products that help consumers feel good every day.”
The transaction is subject to customary closing conditions and regulatory approval.
Bansk, which owns food brands such as Red’s and No Man’s Land Beef Jerky, did not provide a timeline for completion of the transaction.
