RxBar, David Bars Founder Is Now A Billionaire

Forbes Daily Briefing · Oct 11, 2026 · 6m

Medici Brands, the parent company behind David protein bars and low-calorie, low-sugar candy brand HallPass, raised $250 million at a $2.25 billion valuation in early September. It was the biggest food industry deal so far this year. The transaction catapults its founder and CEO Peter Rahal, 40, who invested $20 million in the round (representing 8% of the fundraise), into the billionaire ranks. Medici’s biggest individual investor, with an estimated 70%, Rahal is now worth an estimated $1.9 billion. Rahal, who sold his first company RxBar to Kellogg for $600 million in 2017, declined to…