Australia's Freedom Foods Group has acquired Crankt Protein for $2.5 million, reports Country News. Freedom Foods, which owns a milk processing plant in Australia that exports ultra high-temperature pasteurization milk to China, plans to align Crankt to its Vital Strength premium sports and nutrition brand. Crankt sells its protein snack bars and shakes at Australia and New Zealand convenience, grocery, and fitness retailers.
In February, Freedom Foods entered into an exclusive distribution agreement for the Crankt Protein brand for a minimum of three years, with rights to acquire the brand based on sales performance. The brand's integration into Freedom Foods is expected to help it expand into the broader on-the-go nutrition market in Australia, leveraging existing retail customer and distribution capabilities, according to the report. Full Story
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