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Freedom Foods cements position in sport and nutrition sector with Crankt Protein acquisition

By Gill Hyslop contact

- Last updated on GMT

Crankt protein bars.
Crankt protein bars.

Related tags: Australia, Protein, Freedom Foods, Crankt, Mergers and acquisitions, Snack bars, Health, Sports nutrition

Australian milk processor Freedom Foods Group has acquired protein brand Crankt for A$3.5 (US$2.5m).

Freedom Foods signed an exclusive three-year distribution agreement with Crankt in February, with the option to buy the brand depending on its sales performance.

It has now exercised this option to acquire Crankt, which produces protein snack bars and shakes sold at retail and fitness outlets in Australia and New Zealand.

According to Freedom Foods – which owns a milk processing plant in Australia that exports ultra high-temperature pasteurization milk to China – it plans to align Crankt to its Vital Strength premium sports and nutrition brand.

The integration will also help Freedom Foods to expand into the broader on-the-go nutrition market in Australia, leveraging existing retail customer and distribution capabilities.

“The Crankt brand provides for an everyday mainstream consumer proposition, aligned to the Freedom Foods Vital Strength brand, which is positioned as a premium brand in the sports and nutrition category,”​ said the company.

Related topics: Health, Snacks, Markets

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