Infant formula maker Bobbie announced the acquisition of Nature’s One, an Ohio-based pediatric nutrition company. The acquisition comes less than three years after Bobbie’s launch and one year after a nationwide infant formula shortage. Bobbie is closing a $70 million Series C to acquire Nature’s One, led by a $35 million investment by PowerPlant Partners—totaling $142 million raised to date.

Designed and built from the ground up in 2019 to develop safe and nutritious infant formula, this is reportedly the first newly  built infant formula facility in the U.S. in 40 years. The new facility allows Bobbie end-to-end control of manufacturing from raw material sourcing to production and canning. Once the facility is fully dedicated to infant formula production, Bobbie is poised to serve 15% of the non-WIC market, tripling the number of babies it can currently feed. Bobbie will continue to manufacture Nature's One products under the Baby’s Only brand for the foreseeable future.