NEW YORK – December 13, 2023 – 1440 Foods, (“1440”, or the “Company”), a leading portfolio of sports and active nutrition brands, today announced the signing of a definitive agreement for Bain Capital Private Equity (“Bain Capital”) to acquire a significant stake in the Company, in partnership with existing investor and operator 4x4 Capital. 1440 Foods will continue to be led by Chief Executive Officer Azania Andrews and her current management team. Financial terms of the private transaction were not disclosed.
1440 Foods is the former sports and active nutrition division of The Bountiful Company that was acquired in 2021 by 4x4 Capital, a leading New York-based investment platform specializing in the consumer, services, and industrials sectors. The Company’s purpose is to provide 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:
“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,” said Ms. Andrews. “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 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,” said Adam Nebesar, a Partner at Bain Capital. “We are thrilled to partner with Azania and 4x4 Capital to continue to build and grow 1440 Foods as a market leader in active lifestyle nutrition.”
“1440 Foods has gone from strength to strength since we acquired the business, with impressive revenue growth and substantially improved profitability,” said Alex Medicis, who co-founded 4x4 Capital and will continue to serve as Chairman of the Board of Directors of 1440 Foods. “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.”
The transaction is expected to close in December and is subject to customary closing conditions. Debt financing for the transaction is being provided by Fortress Investment Group.
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. PJT Partners is serving as financial advisor and Sidley Austin is serving as legal counsel to 1440 Foods and 4x4 Capital.
About 1440 Foods
1440 Foods is a sports and active nutrition company on a mission to energize people to unleash their potential with a focused portfolio of accessible, great-tasting health and wellness brands: Pure Protein® nutrition bars; Body Fortress® high efficacy protein powders; and MET-Rx® high-performance meal replacements. 1440 Foods brands can be purchased online at Amazon, or at a wide range of grocery, pharmacy, and convenience store chains nationwide such as Wal-Mart, Target, Kroger, Meijer, Walgreens, CVS, and convenience store chains. To learn more about 1440 Foods, visit www.1440Foods.com.
About Bain Capital Private Equity
Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity's global team of more than 280 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital has 23 offices on four continents. Since its inception, the firm has made primary or add-on investments in more than 1,150 companies. In addition to private equity, Bain Capital invests across multiple asset classes, including credit, public equity, venture capital and real estate, managing approximately $180 billion in total assets and leveraging the firm's shared platform to capture opportunities in strategic areas of focus. For more information, please visit: https://www.baincapitalprivateequity.com/.
About 4x4 Capital
4x4 Capital is an investment platform focused on building value for companies in the consumer, services and industrials sectors. We combine deep management expertise with an investment and operational track record across multi-billion-dollar brands worldwide. Our partners' extensive operational experience and systematic approach to managing businesses and scaling growth drive our long-term view on value creation. Visit 4x4capital.com for more information.