Dairy-free coffee creamer company Nutpods has been acquired by an investment group by the name of MPearlRock for an undisclosed sum.
Nutpods was founded in 2013 in greater Seattle by entrepreneur Madeline Haydon. In 2019, the company closed a $33.6 million funding round led by VMG Partners. According to a recent Forbes report, the company posted $19.1 million in sales that year.
MPearlRock represents a partnership between Kroger-backed investment firm PearlRock Partners and New York-based asset management firm MidOcean Partners. The consortium lists Brian Kelley as its CEO. Kelley was formerly CEO of Keurig Green Mountain (now Keurig Dr Pepper) when it was acquired by JAB Holding Company in 2015.
“We have been following Nutpods for the past few years and have been impressed with Madeline’s vision and disciplined approach and how she built strong customer loyalty by developing and marketing a truly superior product,” Kelley said in an announcement from MPearlRock today. “We are thrilled to support the next chapter in Nutpods’ evolution and are delighted to work with Madeline and her team to accelerate growth and provide the resources to best position the brand to deliver unique, healthy products to loyal and new customers.”
In addition to a broad range of flavored and unflavored dairy-free creamers, Nutpods recently introduced its first coffee products, cartons of “Creamy Cold Brew,” including a classic cold brew flavor and a vanilla caramel flavor.
According to today’s announcement, Haydon will continue to lead Bellevue, Washington-based Nutpods, whose products are currently available in more than 1,500 grocery outlets nationwide.
“Brian’s background with leading global consumer brands coupled with MPearlRock’s capabilities and resources makes them an ideal growth partner for us,” Haydon said. “We are excited to reach more consumers in new channels and new product verticals who allow us to become part of their daily coffee ritual.”
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