Medici Brands

Medici Brands is the parent company of David Protein, a high-protein snack brand, and HallPass, a confectionery brand that launched nationwide at Walmart in August 2026. Medici Brands also plans to introduce a third consumer brand, Rowdy, later in 2026, and AgFunderNews reported that Rowdy will focus on chips.^[1],[2]

Medici Brands' David Protein launched direct-to-consumer in September 2024 with a single product, its flagship protein bar, containing 28g of protein, 150 kcal and no sugar, according to FoodBev. David Protein has since added frozen desserts and ready-to-drink shakes and is now sold in more than 35,000 retail locations including Walmart, Target and Costco.^[3],[2]

Medici Brands' HallPass makes low-calorie, low-sugar peanut butter cups, peanut creme wafers and chocolatey candy pieces, according to Food Business News. HallPass focuses on recreating traditional candy with fewer calories and less sugar. Peter Rahal told AgFunderNews that Walmart would account for the vast majority of HallPass distribution on day one, with a parallel rollout to independent retailers in the New York City and Los Angeles markets and on the brand's own direct-to-consumer site.^[4],[1],[2]

Medici Brands' portfolio also includes Epogee, the developer of EPG, a plant-based fat substitute designed to provide the taste and texture of traditional fat with fewer calories. AgFunderNews reported that EPG is a patented ingredient used in David Protein and HallPass products, and that Rahal is now pitching it to large consumer packaged goods companies as part of a business-to-business strategy.^[1],[2]

Medici Brands is the parent of David Protein, whose flagship protein bar Peter Rahal and Zach Ranen launched in 2024 after raising $10 million in a seed funding round, according to Food Business News. Rahal is described by AgFunderNews as the founder of RXBAR.^[4],[2]

Medici Brands' David Protein raised a $75 million Series A in 2025, with Greenoaks and Valor Equity Partners among the investors. AgFunderNews reported that the Series A was used in part to acquire the alt-fat ingredient EPG, and Food Business News reported that David acquired Epogee in 2025.^{[3],[1],[2],[4]}

Medici Brands' David Protein brand, its Epogee unit and CEO Peter Rahal are defendants in a federal antitrust lawsuit over access to EPG. AgFunderNews identified the case as OWN Your Hunger, Lighten Up Foods and Defiant Foods against Linus Technology (trade name David Protein), Epogee and Peter Rahal, filed in the Southern District of New York on June 2, 2025. AgFunderNews reported that after David acquired Epogee it cut off other customers' access to EPG while supplies were limited, and that former customers accused David Protein of excluding competitors and creating an artificial monopoly.^[2]

Medici Brands' side of the dispute, as reported by AgFunderNews, is that formulators can choose from an abundance of alternatives to EPG and that David Protein has no obligation to keep selling to firms that have not signed long-term supply contracts. A court filing quoted by AgFunderNews says: "As patent owners, defendants are free to choose to sell EPG only to non-competitors, or to refuse to sell EPG at all." Lighten Up Foods settled its claims through a supply agreement, while OWN Your Hunger and Defiant Chocolate, which the article's case footnote lists as Defiant Foods, continue the suit. As of AgFunderNews' September 2026 report, the judge had not ruled on the third amended complaint.^[2]

Medici Brands raised a $250 million Series B in early September 2026, co-led by Greenoaks and Valor Equity Partners, with participation from CEO Peter Rahal, ICONIQ and Imaginary Ventures. FoodBev and Food Business News reported the round.^[1],[3],[4]

Medici Brands' valuation was reported by AgFunderNews as $2.25 billion. The coverage of the company's announcement by FoodBev and Food Business News does not state a valuation, so the figure rests on that single report.^[2]

Medici Brands said the business is on track to surpass $300 million in revenue in 2026. AgFunderNews reported that Rahal said he expects David Protein to be profitable in 2026.^[1],[2]

Medici Brands said it will use the Series B proceeds to expand HallPass' retail footprint and product portfolio, extend David into additional product categories and formats, accelerate product innovation and build infrastructure to support the launch and scaling of additional brands. Greenoaks partner Neil Shah said the firm believes Medici is building the first technology-enabled platform in food.^[1]

Medici Brands' chief executive officer is Peter Rahal, who also took part in the Series B as an investor. AgFunderNews describes him as Medici's CEO and the founder of RXBAR.^[1],[2]

Medici Brands' David Protein bar was launched by Rahal and Zach Ranen in 2024, according to Food Business News. The sources reviewed do not state Ranen's current title or role at Medici.^[4]

Medici Brands' lead investors were represented in the announcement by Neil Shah, a partner at Greenoaks, and Jon Shulkin of Valor Equity Partners.^[1]

Medici Brands sells David Protein through retailers including Walmart, Target and Costco, according to the announcement coverage. HallPass launched nationwide at Walmart, which Rahal told AgFunderNews would be the vast majority of its day-one distribution.^[1],[2]

Medici Brands has been increasing its manufacturing capacity for EPG, according to AgFunderNews, which also reported that Lighten Up Foods, a former EPG customer, now has a supply agreement with David Protein.^[2]