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New York-based investment platform 4×4 Capital has acquired the former sports and active nutrition division of The Bountiful Company from KKR and Carlyle.
The sports and active nutrition portfolio encompasses brands such as Pure Protein and the Body Fortress protein powder and shake range. It also includes MET-Rx, a range of meal replacements, and Balance, a lifestyle brand focused on balanced nutrition.
The deal follows Nestlé’s $5.75 billion acquisition of The Bountiful Company vitamin and supplement brands earlier this year.
“With wellness-focused eating and drinking on the rise, protein has become a mainstream category,” said Alex Medicis, co-founder of 4×4 Capital.
“We look forward to partnering with Kent and his team to maximise long-term growth by offering great-tasting products that will help people in their search for a healthier lifestyle.”
CEO Kent Cunningham, who will continue to lead the business, added: “Alex and his partners bring world-class management expertise and an impressive operational track record. Their long-term view on value creation aligns with our excitement for what’s next in active nutrition.”
The financial terms of the transaction have not been disclosed.
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