1440 Foods – a leading portfolio of sports and active nutrition brands – recently announced the signing of a definitive agreement for Bain Capital Private Equity to acquire a significant stake in the company in partnership with existing investor and operator 4×4 Capital. And 1440 Foods will continue to be led by Chief Executive Officer Azania Andrews and her current management team. The financial terms of the private transaction were not disclosed.
1440 Foods is the former sports and active nutrition division of The Bountiful Company, which was acquired in 2021 by 4×4 Capital. And the company’s purpose is to offer people energy to unleash their potential through its innovative portfolio of healthy foods and supplements that are designed to support muscle development, recovery, and overall wellness goals. 1440’s portfolio combines powerful and complementary growth brands, including:
1.) Pure Protein – a leading lifestyle nutrition line known for its bestselling portfolio of bars, ready-to-drink beverages, powders and savory snacks,
2.) MET-Rx – a sports nutrition brand with over three decades of unwavering commitment to offering delicious meal replacement products that fuel workouts and optimize performance;
3.) Body Fortress – a leading performance protein powder brand trusted by disciplined fitness enthusiasts to strengthen their physical and mental bodies.
The deal is expected to close in December and is subject to customary closing conditions. Fortress Investment Group is providing debt financing for the transaction.
UBS Investment Bank is serving as financial advisor, KPMG is serving as accounting advisor, and Ropes & Gray is serving as legal counsel to Bain Capital. And PJT Partners is serving as financial advisor, and Sidley Austin is serving as legal counsel to 1440 Foods and 4×4 Capital.
KEY QUOTES:
“We are excited about this new phase of our growth journey. Our vision is to become the go-to choice for people seeking flavorful, functional, and convenient nutrition as part of a balanced lifestyle. Bain Capital shares our vision and their deep expertise supporting the growth of global consumer brands will help us to expand our product offerings reaching more consumers in more occasions and channels, building upon our strong momentum as a leading lifestyle nutrition company.”
- 1440 Chief Executive Officer Azania Andrews
“1440 Foods’ innovative brands sit at the intersection of two consumer megatrends: first the growth of on-the-go snacking; and second the pursuit of healthier lifestyles, and as part of that consumers’ realization that protein is critical to total body wellness. We are thrilled to partner with Azania and 4×4 Capital to continue to build and grow 1440 Foods as a market leader in active lifestyle nutrition.”
- Adam Nebesar, a Partner at Bain Capital
“1440 Foods has gone from strength to strength since we acquired the business, with impressive revenue growth and substantially improved profitability. This achievement is a testament to how we support management teams to create value through top-line growth and operational excellence. We look forward to continuing to create value at 1440 Foods, in partnership with Bain Capital, as the 1440 Foods team accelerates its goals of shaping the future of ‘better for you’ snacking and meal replacement.”
- Alex Medicis, who co-founded 4×4 Capital and will continue to serve as Chairman of the Board of Directors of 1440 Foods
