NEW YORK — Sports and active nutrition company 1440 Foods has acquired protein bar brand FitCrunch from Union Capital Associates and founder Robert Irvine. The transaction is valued at approximately $700 million, according to S&P Global.
As part of the deal, Patrick Cornacchiulo, chief executive officer of FitCrunch, will assume the role of CEO at 1440 Foods.
“We are thrilled to join the 1440 Foods platform and to bring together two talented teams with deep experience in the nutrition category, retail, branding and manufacturing,” Cornacchiulo said. “FitCrunch and 1440 products enjoy industry-leading loyalty, and combining our portfolios and innovation capabilities will help reach more consumers on more occasions and in more channels.”
FitCrunch joins the 1440 portfolio, which includes such brands as Pure Protein, MET-Rx and Body Fortress, under the joint ownership of 4x4 Capital and Bain Capital Private Equity. The transaction follows 1440’s investment of more than $60 million into a new manufacturing facility in Jeffersonville, Ind., that is expected to be operational in 2025.
“1440’s vision is built on four pillars: strong brands, a complete product portfolio, deep retailer relationships and efficient operations,” said Alex Medicis, co-founder of 4x4 Capital and chairman of the 1440 Foods board of directors. “FitCrunch brings additional strength in all these areas to help shape the future of ‘better-for-you’ snacking and meal replacement.”
