Canadian sports nutrition company Fit Foods has secured investment from venture-capital firm Westcap.
The size and other terms of the investment have not been disclosed.
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Founded in 1996, Fit Foods produces and distributes sports nutrition and supplements.
The business owns brands such as Mutant for body builders; Pure Vita Labs for athletes and fitness enthusiasts; protein shake Whey Gourmet; and supplements North Coast Naturals,
In a joint statement issued yesterday (4 February), Fit Foods founder, CEO and ongoing shareholder Jim McMahon said: “Westcap was an ideal partner for us given its position as a long-standing investment firm with a history of growing and supporting western Canadian businesses while maintaining company culture.”
Fit Foods employs around 200 people and has more than 200,000 square feet of manufacturing and warehousing space, including a licenced and automated production facility in Port Coquitlam in British Columbia.
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By GlobalDataWestcap president and CEO Grant Kook said: “As protein consumption continues to increase with consumers looking for new and improved methods to increase their overall health and performance, the supplements industry has an impressive growth trajectory.
“Fit Foods is an industry leader with a highly tenured management team and deeply entrenched customer and supplier relationships, which made it a perfect platform company for us to grow.”
Westcap is a private equity and venture capital fund manager with more than $1bn in assets under management.
