Freedom Foods has announced the acquisition of Crankt for AUD 3.5 million. Crankt is a protein brand that produces a variety of protein-based bars and drinks for distribution in both Australia and New Zealand.
With Uprotein and Vital Strength already part of Freedom Foods’ extensive portfolio, the addition of Crankt will help to support the company’s position in the sports nutrition sector.
Crankt is currently stocked in fitness stores, petrol stations and retail stores, however, the additional access to Freedom Foods distribution channels will allow for the brand to potentially be stocked in Supermarkets.
A statement from Freedom Foods said: “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,”
Freedom Foods was established in 1990 with the aim of providing Australians with more free-from food solutions. The company has seen major growth with the rise of the health-conscious consumer and currently has six factories with a portfolio featuring more than 150 products.