PORTAGE, MICH. โ Impact Capital, the private equity arm of Mike Repoleโs family office, has acquired a majority stake in Junkless Foods, a maker of chewy granola bars. Financial terms of the transaction were not disclosed.
Founded by Ernie Pang and Larry Beyer in 2017, Junkless Foods was created to provide simpler alternatives for breakfast and snack food products. Junkless chewy granola bars are available in chocolate chip, peanut butter chocolate chip, strawberry, cinnamon roll and oats and honey varieties. The company also offers crispy-chewy protein bars under the Junkless Plant Power brand in two varieties: double chocolate brownie and peanut butter delight.
โWe have poured our heart and soul into getting Junkless to where it is today, but we knew we needed something more to take us to the next level,โ Mr. Pang said. โWe could not have asked for better partners in Mike (Repole) and the Impact team, who share our passion for Junkless and see the incredible potential of our brand and know how to get us there.โ
Impact Capitalโs Mr. Repole is a serial entrepreneur with a track record of building and selling businesses. He co-founded vitaminwater and BodyArmor, which were sold to The Coca-Cola Co. for $4 billion and $8 billion, respectively. He also helped boost Pirateโs Bootyโs market presence through rebranding, a strategic sales strategy, partnerships and innovation, before it ultimately was sold to B&G Foods. Mr. Repole also was an early major investor and board member in Kind prior to its sale to Mars in 2020.
โWe saw a huge opportunity for Junkless to become a major brand,โ Mr. Repole said. โEveryone is looking for better-for-you versions of their favorite snacks โ and thatโs exactly what Junkless provides. The passion of Ernie, Larry and the entire Junkless team combined with our experience growing small brands into scalable mainstream brands, is a perfect match.โ
