LOS ANGELES — A private equity firm specializing in building consumer brands has launched a new branded snacking platform, Velocity Snack Brands. VMG Partners works with products in the food, beverage, personal care, beauty, pet food and wellness categories.
Amit Pandhi, who previously was president and CEO of Arctic Zero frozen desserts, will lead Los Angeles-based Velocity Snack Brands as CEO.
The company’s first acquisition under the Velocity Snack Brands was popchips, which was founded in 2007 and is known for its chips made without a deep fryer. Popchips products include original rounds, ridges, Nutter Puffs and Yes Peas.
“Building platforms in categories where VMG has been actively investing for nearly 15 years has been something we have been contemplating for some time, and we are thrilled to kick off our first consumer products platform with popchips as a partner,” said Wayne Wu, general partner with VMG Partners.
San Francisco-based VMG Partners was founded in 2005 and is focused on partnering with entrepreneurs and managers to support growth and strategic development of branded consumer products companies in the lower-middle market, according to the company. Velocity Snack Brands, along with other VMG platform concepts, will host a portfolio of brands and provide a single source for retailers across brick-and-mortar and digital channels.
Velocity Snack Brands will invest broadly in snacking across salty, sweet and nutrition bar categories, according to the company.
“VSB’s mission is so well-aligned with popchips’ commitment to innovation and leadership in the better-for-you snack category, and I look forward to seeing how they leverage the expertise and operating synergies of the snack platform they are building to take popchips to the next level,” said Keith Belling, founder and former CEO of popchips.