CAVU Venture Partners, a VC and growth equity firm started by CPG veterans known for backing and building iconic consumer brands, announced that it has made a significant investment in ISS Research, LLC. CAVU managing partners Brett Thomas and Rohan Oza will join the Company's board of directors to help capitalize on the popularity of the ONE® Bar, a nutrition snack bar packed with 20 grams of protein while containing only one gram of sugar.
Based on ONE Bar's early success and potential for creating a platform for the snack nutrition market, the CAVU team recruited industry veteran Peter Burns to become the Company's President and CEO. Burns will be based out of the company's Boulder, CO office and serve alongside founder and CEO Ron McAfee, Jr. to drive growth.
"We are thrilled to partner with Ron, and the addition of Peter and his team positions OhYeah! Nutrition to be the premier snack nutrition company," said Brett Thomas, Managing Partner at CAVU. "ONE Bar, the Company's best-selling brand, combines indulgent flavors with world-class nutrition. We believe 'permissible indulgence' is a long-term trend with a lot of room for growth, and ONE Bar is primed to capitalize on that opportunity."
Ron McAfee, Jr., founder and CEO of OhYeah! Nutrition, added, "I am excited to be partnering with CAVU Venture Partners as we begin our next phase of growth. CAVU's experience and strong track record in building iconic brands will help position the Company's infrastructure for growth and drive the expansion of the popular ONE Bar. In addition, I would like to welcome Peter and his team to the ONE Bar family. Peter is renowned for being a world-class operator, and his commitment to partnering with us is a strong endorsement of the opportunity ahead."
Burns joins OhYeah! Nutrition from Justin's Nut Butter, where he served as President and CEO for three years and successfully led the company through its acquisition to Hormel Foods Corporation in 2016. Prior to joining Justin's Nut Butter, Burns was the President of Celestial Seasonings for Hain Celestial Group where he developed and managed the Celestial Seasonings worldwide business. He created business strategies and delivered 20 consecutive quarters of financial targets for the company. He also previously held positions including Chief Sales Officer for Hain Celestial Group US, Executive Vice President of Sales and Marketing at Jones Soda Company and Executive Vice President of Sales at IZZE Beverage Company.