VMG and TerraVia Partner on New Venture Targeting Investment Opportunities that Leverage TerraVia’s Breakthrough Algae Platform

SAN FRANCISCO--()--VMG Partners, a private equity fund focused exclusively on partnering with emerging branded consumer product companies, and TerraVia™ (NASDAQ:SZYM), formerly known as Solazyme, Inc., a visionary leader in algae-based food, nutrition and specialty ingredients, announced today the launch of TerraBrands™. The new venture combines VMG’s expertise, investment capital and success investing in leading consumer brands such as KIND, Vega, Pretzel Crisps, Justin’s, Health Warrior and Solid Gold Holistic Pet Food, to name just a few, with TerraVia’s innovative algae-based food and nutrition platform. Additionally, Keith Belling, the founder and former CEO of popchips, will be joining the team, bringing his expertise in building brands and teams to the partnership.

“Working with TerraVia and VMG to build TerraBrands™ represents a unique opportunity to help drive the creation of an exciting new category in food that truly delivers on nutrition, taste and sustainability”

Over more than a decade, TerraVia has invested in developing a unique understanding and expertise around algae, resulting in an innovative suite of algae-based food, nutrition and specialty ingredients with successful regulatory review and validation by major CPGs and cutting-edge consumer brands. By deploying VMG’s brand-building expertise and investment capital, TerraVia’s proprietary and disruptive algae-based ingredients, and Keith Belling’s marketing and brand-building expertise, TerraBrands™ will target investing in or acquiring established lower middle-market companies in the food, pet and nutrition segments to drive differentiated positioning and compelling growth opportunities in attractive categories.

“Algae is the mother of all plants and earth’s original superfood. Given the accelerating demand for plant-based nutrition, we are excited to be at the forefront of this next generation of foods and ingredients,” said Michael Mauze, Managing Director of VMG Partners. Kara Cissell-Roell, Managing Director of VMG Partners, said, “We see a compelling opportunity to marry products and brands with TerraVia’s innovative, nutrient-rich ingredients in response to a rapidly growing consumer demand for healthy, environmentally sustainable food products that don’t sacrifice on taste.”

Jonathan Wolfson, the founder and CEO of TerraVia, said, “We’re excited to work with VMG, one of the world’s most successful private equity firms in building cutting-edge food and nutrition brands, and which also recently invested in our transformation from Solazyme to TerraVia. I am also thrilled that Keith has agreed to take a key role in this venture, as he is not only a brilliant marketer but also a proven category creator. By bringing together VMG, TerraVia and Keith, we will help drive a new movement, recognizing algae as a critical solution for plant-based eating and nutrition. We believe TerraBrands™ will also enable TerraVia to capitalize on the opportunity to create substantial value for our shareholders by focusing on select branded consumer opportunities.”

The combined team will put TerraBrands™ in an excellent position to leverage unique relationships and expertise and build great businesses with strong brands, excellent management teams, strategic focus and go-to-market strategies for its portfolio of partner companies. “Working with TerraVia and VMG to build TerraBrands™ represents a unique opportunity to help drive the creation of an exciting new category in food that truly delivers on nutrition, taste and sustainability,” said Belling, who in his tenure with popchips helped lead the next generation in better-for-you snacking.

About VMG Partners

VMG Partners is focused solely on partnering with entrepreneurs and managers to support the growth and strategic development of branded consumer products companies in the lower middle market. Since its inception in 2005, VMG has provided financial resources and strategic guidance to drive growth and value creation in more than 20 companies. VMG's defined set of target industries includes food, beverage, wellness, pet products, personal care and household products brands. Representative past and present partner companies include KIND Healthy Snacks, Pretzel Crisps, Pirate's Booty, Waggin' Train, Natural Balance, Vega, Babyganics, Solid Gold, Health Warrior, Perfect Bar and Justin's. VMG Partners is headquartered in San Francisco. For more information about the fund please visit www.vmgpartners.com.

About TerraVia

TerraVia™ (formerly Solazyme®) is a next generation food, nutrition and specialty ingredients company that harnesses the power of algae, the mother of all plants and earth’s original superfood. With a portfolio of breakthrough ingredients and manufacturing, the Company is well positioned to help meet the growing need of consumer packaged goods and established and emerging food manufacturers to improve the nutritional profile of foods without sacrificing taste, and to develop select consumer brands. The Company also manufactures a range of specialty personal care ingredients for key strategic partners. Headquartered in South San Francisco, the Company’s mission is to create products that are truly better for people and better for the planet. For additional information, please visit TerraVia’s website at www.terravia.com.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about Solazyme, including statements that involve risks and uncertainties concerning: the launch of TerraBrands™, its team members and customer and consumer acceptance of algae-based foods; the attributes of algae-based foods, including as to nutrition, taste and environmental sustainability; its ability of to bring value to customers and shareholders; its ability to successfully negotiate and execute definitive agreements related to the TerraBrands™ venture; business and commercialization plans for companies in which TerraBrands™ invests and the success thereof; successful product trials and market acceptance and adoption of products and companies in which TerraBrands™ invests; and its ability to maintain relationships with partners. When used in this press release, the words "will", "expects", "intends" and other similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any such statement may be influenced by a variety of factors, many of which are beyond the control of Solazyme, that could cause actual outcomes and results to be materially different from those projected, described, expressed or implied in this press release due to a number of risks and uncertainties. Potential risks and uncertainties include, among others: Solazyme's limited operating history; Solazyme’s limited history in launching and commercializing products; commercial risk in deploying new products; its ability to successfully develop and commercialize new products; its ability to sell products at a profit; its ability to successfully enter into the venture and maintain strategic collaborations; the success of the TerraBrands™ venture; successful product trials by customers and market acceptance and adoption of products by end-users; the ability to obtain requisite regulatory approvals for products; and its access, on favorable terms, to any required financing. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of Solazyme.

In addition, please refer to the documents that Solazyme, Inc. files with the Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as updated from time to time, for a discussion of these and other risks. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. Solazyme is under no duty to update any of the information in this press release.

Contacts

Media contact:
Konnect PR
Molly Morey
mmorey@konnect-pr.com
www.konnect-pr.com
or
Investor relations contacts:
TerraVia
Bryce Dille, CFA
Investor Relations
650-416-5060
or
JMSC Group
Jeff Majtyka
646-776-0886
jeff@jmscgroup.com

Release Summary

VMG Partners and TerraVia™, formerly known as Solazyme, Inc., a visionary leader in algae-based food, nutrition and specialty ingredients, announced today the launch of TerraBrands™.

TerraVia