Mais Mu, a Brazilian healthy snacks and supplements startup, has just completed its first investment with BTV and at the same time, entered into a distribution partnership with BAT Brasil. The partnership between the companies aims to offer Mais Mu's products to more than 140,000 points of sale served by BAT Brasil, expanding its reach by more than 13 times. BAT will also support Mais Mu in distribution throughout Latin America and provide strategic support in key areas for business growth.
The investment from BTV values Mais Mu at R$125 million pre-money valuation. It will complement BTV’s well established portfolio of consumer goods investments in the wellbeing and stimulation space across the globe, typically focused on better-for-you food and beverage brands in strategies that position its parent company’s current product portfolio beyond nicotine.
“Mais Mu is one of the most promising Brazilian start-ups with a strong brand, great management and loyal customer base. We hope this one-of-a-kind partnership with BAT Brasil through Btomorrow Venture’s investment propels Mais Mu’s expansion to new heights. We have high hopes for this investment and keep fingers crossed for a Municorn in our portfolio in very nearby future”
says Lukasz Garbowski, Investment Director at BTV.
Victor Loria, President of BAT Brasil and LatAm South highlights the importance of the partnership for BAT's strategy:
“Our strategy of Building A Better Tomorrow is present in several initiatives. We have the global objective of offering consumers a portfolio of multi-category products and this investment is an important milestone in the year in which we complete 120 years of operation in Brazil.”
The startup was founded in 2014 with the goal of normalizing supplements and breaking its association with steroids. Mais Mu started by offering a mix of protein powders and today has a varied menu that includes snacks, protein bars, and ready-to-drink beverages, among other things. Today, their products are available at over 11,000 points of sale and can be found in countries in Europe and the Middle East. With the partnership and investment, Mais Mu will accelerate its mission to, in Otto's words, "nourish the shelves of Brazil and the world with nutritious foods that people truly want to consume."
“Having a distribution partnership with BAT is a huge asset to any CPG company. Add to that the financial investment of Btomorrow Ventures and we end up with one of the best deals I can imagine for Mais Mu. It’s a huge opportunity for us to push our brand and products to places that were impossible to reach. Also, we are honored to have the chance to help BAT and Btomorrow Ventures to create A Better Tomorrow.”
says Otto Guarnieri, Co-founder and President of Mais Mu.