US-based sports and active nutrition company 1440 Foods has secured investment from private-equity business Bain Capital.

It was announced yesterday (13 December) both parties had signed “a definitive agreement” that will see Bain Capital own “a significant stake in the company”, alongside existing shareholder 4×4 Capital.

Financial details were not disclosed.

The transaction will likely close this month, Bain Capital said, depending on “customary closing conditions”.

Adam Nebesar, a partner at Bain Capital, said the investment group intended to “grow 1440 Foods as a market leader in active lifestyle nutrition”.

1440 Foods markets a range of products that include Pure Protein RTDs, whey powders and snack bars, MET-Rx meal replacement supplements and Body Fortress’s high protein shakes.

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Formerly owned by US-based supplements group The Bountiful Company, 1440 was taken over by 4×4 Capital in 2021.

Alex Medicis, the co-founder of 4×4 Capital, will remain the chairman of the 1440 Foods board following the Bain Capital deal.

In a statement, Medicis said: “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 investment will have no impact on the protein bar maker’s c-suite, said Bain Capital, with CEO Azania Andrews and her management team continuing to lead the group.

1440’s CEO Azania Andrews said the latest deal would enable the company to enter a “new phase of our growth journey”.

“Our vision is to become the go-to choice for people seeking flavourful, functional, and convenient nutrition as part of a balanced lifestyle,” she said.

“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.”

The private-equity firm’s portfolio includes the Vietnamese Masan Group, in which it invested $200m in October. Bain Capital also acquired a minority stake in the US sous-vide group Cuisine Solutions last year, and already owns the Kettle crisps and Jacob’s crackers maker, Valeo Foods.