Despite being bought by PepsiCo, Health Warrior is set to remain headquartered in Richmond. (Mike Platania)
RICHMOND, Va. — A local company built on chia seeds has courted a Fortune 100 acquirer.
Health Warrior, an 8-year-old company that makes bars and other snacks primarily from chia seeds, has been acquired by PepsiCo for an undisclosed amount, the companies announced Tuesday.
Calls to Health Warrior CEO Shane Emmett were not returned by press time.
In a letter on Health Warrior’s website, Emmett wrote that Health Warrior will be the inaugural company in PepsiCo’s The Hive, an entity the food and beverage conglomerate created to bring smaller brands in-house.
Founded in 2010 and based in Scott’s Addition, Health Warrior has been among Richmond’s fastest-growing companies in recent years. It landed on Inc. Magazine’s Inc. 5000 list of the fastest-growing private companies in the country in 2016, posting $9.9 million in revenue. As of 2016, it had 30 employees.
The company raised $5 million in equity funding last year, per SEC filings.
Ted Chandler, co-founder of local venture capital firm NRV, which has invested an undisclosed amount in Health Warrior since 2013, said under PepsiCo, Health Warrior will enjoy greater marketing and distribution outlets. Health Warrior’s products have been distributed nationally through Whole Foods Market since 2012.
