WM Partners, a diverse-owned private equity firm focused on investing in middle market companies and driving value creation in the health and wellness sector, has, through its HPH II Investments Master Fund LP, together with its parallel, alternative investment and feeder funds, completed its investment in Raw Sugar LLC and partnership with Raw Sugar founders, Ronnie Shugar and Donda Mullis.
Based in Sarasota, Florida and founded in 2014, Raw Sugar is a lifestyle brand that seeks to make clean beauty and healthy living products affordable.
HPH II’s existing portfolio of brands include Ultima Replenisher, a hydration brand acquired in 2019; Great Lakes, a collagen brand acquired in 2020; Jade Leaf, a matcha brand acquired in 2020; FGO, a superfoods and tea brand acquired in 2020; and Vega, a brand in plant-based nutrition, acquired in 2021.
“We are thrilled to partner with the Raw Sugar team. We are increasingly excited about the brand and their ability to innovate within the natural personal care category,” said Jose Minski, co-founder of WM Partners. “They have built a strong, mission-driven brand, and we look forward to supporting their rapid growth. We are excited to acquire a high growth, high margin, and scaled business in the personal care subsector, establish a second platform under HPH II, and continue to meet the increasing consumer demands for natural health and wellness brands.”
“We created the Raw Sugar brand to not only make clean healthy living more accessible to everybody, but to also inspire people to love the skin they’re in,” said Mullis.
Shugar added, “I believe that our partnership with WM Partners will provide us the resources and operational expertise to help continue our growth and innovation, build awareness for the Raw Sugar brand, and support our consumers, retailers and supplier partners- all while staying true to our Raw Sugar mission.”
King & Spalding served as legal advisor to WM Partners. Intrepid Investment Bankers and Buchalter served as advisors to Raw Sugar.