Naturade Inc., a leading US marketer of soy protein products under the Naturade Total Soy brand name, received $2.5 million of capital from Westgate Equity Partners of St. Louis, in a transaction that provides working capital to build the Naturade Total Soy brand and support continued strong revenue growth.
Naturade CEO Bill Stewart said, "The financial strength of our new partnership with Westgate will allow us to intensify our focus on brand-building as the No. 1 brand of soy protein meal replacements in the mass market and to maintain our reputation as innovators of natural products that offer real consumer health benefits. Westgate recognizes our potential, which is supported by the FDA approved heart health claim for soy protein, and understands the value of our distribution base in 28,000 mass market outlets. We also are excited by their interest in creating additional strategic alliances for Naturade."
Westgate is a $120 million, consumer-oriented committed equity fund whose principals offer particular expertise in natural, soy protein-based products. Its investors include the nation's largest independent pension system, numerous financial institutions and high net worth executives.
Headquartered in Irvine, Calif., Naturade -- since 1926 -- has been committed to marketing innovative natural products that nourish the health and well-being of consumers. Well-known for its 50 years of leadership in soy protein, Naturade is the number one brand name sold in food, drug and mass merchandise stores. Its premier product, Naturade Total Soy, is a complete line of ready-to-drink, bars and shake mix meal replacement products.
For more information, visit the Naturade Web site at www.naturade.com