Creatd Inc., a Fort Lee-based technology partnership company, has increased its ownership stake to the majority of Plant Camp LLC, a kid-friendly food business.
Creatd purchased 56% of the company through its Creatd Partners subsidiary, bringing its total ownership stake to 89%. Plant Camp was the first company to join Creatd Partners, the company’s corporate venture initiative.
“It is rare to see ideas become realities,” Creatd CEO Jeremy Frommer said in a prepared statement. “Plant Camp’s success thus far is due to the vision and creativity of its founders, Angela Hein and Dr. Heidi Brown. Without their commitment and hard work, we surely could not have brought this product to market.”
Plant Camp, which had its soft launch at the end of 2020, offers a nutrient-rich mac and cheese as its first product. This year, Plant Camp has implemented fundamental operations, entering the fulfilment phase in January and ramping up sales in earnest in the second quarter.
Creatd Partners’ lead acquisition strategist, Rich Vinchesi, intends to bring on a new executive team and implement a strategic plan for the company, Creatd noted.
“Plant Camp is our inaugural ‘Creatd Partner,’ and it took only a matter of months for us to prove its viability sufficient to warrant taking a more significant ownership interest,” Frommer said. “… Being able to now consolidate Plant Camp revenues on our balance sheet represents the first manifestation of Creatd’s newly reconstituted e-commerce pillar.”
