Key Takeaways
- • Paine Schwartz Partners made a strategic investment in First Day, an Austin, Texas-based maker of family vitamins and supplements, through its Paine Schwartz Food Chain Fund VI; terms were not disclosed.
- • Founder and CEO Alice Li, who started the company in 2019, will continue to lead the business after the investment.
- • First Day has sold more than half a billion gummies and serves more than one million families across direct-to-consumer, Amazon and retail channels.
- • Paine Schwartz, which manages about $6.5 billion in food chain investments, made the deal under its health and wellness theme, alongside Promix, Suja Life and BetterCo.
Summary
Paine Schwartz Partners has made a strategic investment in First Day, an Austin, Texas-based maker of vitamins and supplements for families, through Paine Schwartz Food Chain Fund VI, according to the publisher's summary. Terms of the transaction were not disclosed. Founder and CEO Alice Li, who founded the company in 2019, will remain in her role and continue to run the business.
First Day sells clean-label vitamins, minerals and supplements for the whole family. Its product lineup includes multivitamin, magnesium, tribiotic and brain-support formulas. The company sells direct to consumers, on Amazon and through retail stores. According to the source, First Day has sold more than half a billion gummies and serves more than one million families.
Paine Schwartz, which manages about $6.5 billion in food chain investments, made the deal under its health and wellness theme. The firm's existing holdings in that theme include Promix, Suja Life and BetterCo.
Perella Weinberg Partners and Greenberg Glusker advised First Day on the transaction, while Morrison & Foerster advised Paine Schwartz.
First Day sells clean-label vitamins, minerals and supplements for the whole family. Its product lineup includes multivitamin, magnesium, tribiotic and brain-support formulas. The company sells direct to consumers, on Amazon and through retail stores. According to the source, First Day has sold more than half a billion gummies and serves more than one million families.
Paine Schwartz, which manages about $6.5 billion in food chain investments, made the deal under its health and wellness theme. The firm's existing holdings in that theme include Promix, Suja Life and BetterCo.
Perella Weinberg Partners and Greenberg Glusker advised First Day on the transaction, while Morrison & Foerster advised Paine Schwartz.
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