Australia: Freedom Foods Group acquires nutrition firm Crankt Protein

Freedom Foods Group, the Australia based cereal and snacks producer, has announced the acquisition of nutrition products manufacturer Crankt Protein for A$3.5 million ($2.5 million).

Based in New South Wales, Crankt Protein produces protein snack bars and shakes which are sold in Australia and New Zealand through fitness retailers, petrol stations and other channels.

Freedom Foods Group manufactures and markets breakfast cereal, snacks, dairy and non-dairy milk as well as other products. In the nutrition space the firm’s brand portfolio includes Diamond Pro+, Vitalife and Protein.com.au.

Commenting on the deal, 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”.

Source: Just Food / FoodBev / Freedom Foods Group