Growve Takes Minority Investment From Palm Beach Capital
Press Release (ePRNews.com) - ST. PETERSBURG, Fla. - May 18, 2021 - Growve today announced it has taken a minority investment from Palm Beach Capital (PBC) that accelerates the company’s rapid growth as a top brand aggregator and operator of world-class natural wellness & body care brands. Financial terms were not disclosed.
Growve’s portfolio includes more than 20 brands, and PBC’s growth equity investment brings financial and strategic backing that enables the Company to continue pursuing its aggressive growth strategy, both organically and through acquisitions. PBC is a private equity investment firm that has invested in more than 50 companies and has an exceptional track record of successfully partnering with management teams to strategically scale their business.
“Our partnership with Palm Beach Capital is an exciting and powerful next step in the swift expansion of our business,” Growve CEO Brian Baer said. “Our leading brands and products already have a strong presence within e-commerce and, more recently, in-store retailers, and we welcome this important capital and strategic support from a highly respected equity team as it provides additional firepower for robust and responsible growth.”
“We are excited to partner with the entire Growve management team and we look forward to providing the necessary support and capital for the company to grow exponentially as a global leader in aggregating world-class natural brands in popular categories,” said Nate Ward, PBC partner and co-founder. “We look forward to helping Growve navigate through its exciting next chapter.”
We Grow Brands . . . Let Us Invest In Yours.
Headquartered in St. Petersburg, Florida, Growve is a top brand aggregator specializing in acquiring and operating world-class natural brands in the supplement, body care, food, household and pet categories. Growve’s team of 400+ derives its value from aggregating brands and driving growth through in-house expertise in marketplace management, digital marketing, creative services, innovation, distribution, retail sales, manufacturing, supply chain management, regulatory and accounting. The Company’s portfolio includes 20+ brands and hundreds of unique products. Named to Inc. 5000 Fastest-Growing list. Recently awarded two first-place Drug Store News Buyers’ Choice Awards for its Fruily™ brand. Learn more at growve.com.
About Palm Beach Capital
Founded in 2001, Palm Beach Capital is a private equity investment firm with offices in both West Palm Beach and Sarasota, Florida. Currently investing out of its fifth committed fund, the firm focuses on high-growth investment opportunities and partners with management teams in middle market management buyouts, recapitalizations and growth equity investments. Since its inception, Palm Beach Capital has made investments in over 50 platform companies. For more information, please visit the firm’s website at www.pbcap.com.
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