Private equity firm, VMG Partners, is launching a new snacking platform after acquiring the popchips brand.
Velocity Snack Brands (VSB) will be headquartered in Los Angeles and led by CEO Amit Pandhi, who most recently served as President and CEO of better-for-you frozen desserts brand, Arctic Zero.
VSB, along with other future VMG platform concepts, will house a portfolio of brands that meet an array of consumer needs and usage occasions, providing a single source for retailers across brick and mortar and digital channels.
According to VMG, VSB will provide founders and entrepreneurs of snacking brands the opportunity to build upon initial momentum while also creating a springboard for category-leading innovation and seamless omnichannel execution.
In the years to come, VSB will invest broadly in snacking across salty, sweet and nutrition bar categories, with popchips as the initial brand leading this endeavour.