1440 Foods receives investment from Bain Capital Private Equity

A New Chapter for 1440 Foods

1440 Foods, the parent company of such sports and active nutrition brands as Pure Protein, Met-Rx and Body Fortress, has signed a definitive agreement for Bain Capital Private Equity to acquire a significant stake, in partnership with existing investor and operator 4×4 Capital.

As part of the agreement, the company will continue to be led by CEO Azania Andrews and her current management team.

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.

Adam Nebesar, a partner at Bain Capital, said, “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.”

UBS Investment Bank is serving as a financial advisor, KPMG is serving as an 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 4×4 Capital.

Alex Medicis, who co-founded 4×4 Capital, and will continue to serve as chairman of the board of directors of 1440 Foods, stated, “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.”

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