BackBack SoftBank-backed Thrasio startup GlobalBees buys three more brands

GlobalBees Brands Pvt Ltd, that aggregates and invests in e-commerce brands, has acquired three more direct-to-consumer (D2C) brands in a bid to expand its product portfolio, the company said in a statement on Tuesday. The Thrasio-style venture, backed by PremjiInvest and Japan's SoftBank, has bought stakes in The Butternut Company, a healthy-snack food brand, Mush, a sustainable clothing brand, and Strauss, a sports and fitness equipment brand, the company said, without disclosing financial details of the deals. These acquisitions take the total number of brands owned by the company to 11 since its inception in May last year.

The Butternut Company was founded in 2016 by Ankita M Kukreja, Sahil Kukreja, and Suhail Pansare, and offers nut butters, chocolate spreads, and healthy-snack foods. The brand focuses on plant protein and heart-healthy fats suitable for people of all ages, including children and the elderly and claims to have served over one million customers to date.