Mensa Brands acquires MyFitness
E-commerce roll up company Mensa Brands has acquired health food startup MyFitness for an undisclosed sum.
The transaction will help Mensa Brands launch new categories, ramp up its D2C portfolio, the company said in a press statement. Post-acquisition, it will also invest in MyFitness’ brand-building and expand it to overseas markets.
Founded in 2019 by Mohammad Patel and Rahil Virani, MyFitness makes peanut butter for fitness enthusiasts and sportspeople. The platform currently has more than 30 SKUs which includes a range of peanut butter, rice cake and vinegar with an average selling price of Rs 500. It was also the official snacking partner of IPL teams: Punjab Kings and Delhi Capitals.
Ananth Narayanan-led Mensa Brands claims to have registered a net revenue run rate of Rs 1,500 crore in the first 12 months of operations.
According to Mensa, it has acquired 22 brands so far in categories such as designer sarees, jewellery, men’s wear, smart devices and personal care. In the ongoing calendar year, the unicorn has acquired seven D2C brands such as Estalon, Florona, TrustBasket, Bey Bee, PrettyKrafts and Pebbles among others, according to data compiled by Fintrackr.
While Myfitness is yet to disclose its financials numbers for FY22, its scale surged to Rs 27.66 crore in FY21 from Rs 15 lakhs in FY20, as per the company’s annual financial statements with the Registrar of Companies (RoC). Importantly, the company recorded a profit of Rs 4.10 crore during the fiscal year.
Mensa Brands seems to be an intriguing startup with inspiring development on technology, information and internet platform. This startup would continue to prosper in the future. Wishing this startup good luck in all its future endeavors.Shishir Gupta, Founder and CEO, StartupLanes
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