Nutrabolt, a portfolio company of MidOcean Partners, has acquired Scivation Inc, a maker of nutritional products. No financial terms were disclosed.
BRYAN, Texas–(BUSINESS WIRE)–Nutrabolt a globally recognized leader in sports nutrition, today announced that it has purchased Scivation Inc., a leader in the Branched-Chain Amino Acid (“BCAA”) category. The combined company will be the market leader in pre-workout and BCAA-based categories with an unparalleled brand portfolio that includes Cellucor C4 and XTEND, among many others. Financial terms were not disclosed.
Founded in 2004, Scivation is often-credited with inventing the intra-workout category through its XTEND-branded product line, which delivers high-quality BCAAs and electrolytes in deliciously-flavored powder mixes, helping users recover, rehydrate and build lean muscle. Scivation is highly complementary with Nutrabolt’s pre-workout and functional food offerings and will benefit from Nutrabolt’s well-established supply chain and global distribution channels.
Doss Cunningham, Nutrabolt’s Chief Executive Officer, said, “We are excited to be teaming up with Scivation to bring to market the most comprehensive, innovative and proven line of pre-workout and BCAA products. We have been long admirers of Scivation due to its strong strategic fit within our portfolio and talented leadership team, which has built one of the most recognizable sports nutrition brands on shelves today and is backed by a fiercely loyal consumer base. We are confident that the XTEND brand has significant runway and can achieve even greater market penetration and an expanded assortment as part of our platform.”
Mike Hockenberry, Scivation’s Chief Executive, said, “We are thrilled to be joining Nutrabolt and leveraging their global platform to strengthen and expand our business. Over the past 18 months, Scivation has been deeply focused on innovation, launching new line extensions such as XTEND GO, XTEND Perform and XTEND Free. These new products, combined with XTEND’s current momentum and the immediate distribution synergies Nutrabolt brings, will propel the brand forward under new ownership. I am very proud of our team and the business we have built and look forward to our next phase of growth.”
With a portfolio that now includes sports nutrition brands Cellucor, Royal Sport and Scivation and functional food brand FitJoy, Nutrabolt expects to further demonstrate its ability to execute on its vision of being a strong industry force. Nutrabolt has continued to enter new market segments through both acquisition and organic brand building. In 2016 Nutrabolt widened its reach outside sports nutrition to enter the functional foods category with its FitJoy branded protein snacks, which have been one of the fastest growing brands in the category.
MidOcean Partners, a premier middle market private equity firm focused on consumer and business services, invested in Nutrabolt in July 2014. Daniel Penn, Managing Director at MidOcean, added, “Nutrabolt is a rapidly growing, dynamic business and we are pleased to support its acquisition of Scivation. This acquisition, coupled with Nutrabolt’s strong organic growth in sports nutrition and functional foods, further bolsters the Company’s market position and reinforces its role as a leading consolidator within the nutrition space.”
Nutrabolt is a global nutritional life sciences company established in 2002 that specializes in consumer product solutions in sports nutrition and functional foods. The Company’s marquee brand, Cellucor, includes the brand’s most notable product line C4, which has become the uncontested industry leader in pre-workout supplementation. Nutrabolt also owns Royal Sport and through a recent acquisition, Scivation Inc., best known for its XTEND branded product line. Nutrabolt launched its way into functional foods in 2016 through its FitJoy branded line of healthy on-the-go protein based snacks. Nutrabolt’s brands are distributed to some of the world’s largest specialty, big box and online retailers including GNC, Vitamin Shoppe, Amazon.com, Bodybuilding.com, Walmart, Costco, and Target. Nutrabolt’s brands are distributed in more than 40 countries through its network of global distributors.
About Scivation, Inc.
Scivation was founded by Mike McCandless in 2004 in Burlington, North Carolina with a goal to redefine the nutritional industry by creating real breakthroughs in high-quality nutritional products that are within the reach of millions. Scivation formulates, sells and markets nutritional supplements built on the foundation of Science and Innovation. Often credited with inventing the intra-workout category with its flagship XTEND product line, Scivation offers consumers a great tasting BCAA product with a formulation rooted in two University-based research studies. Scivation again revolutionized the category when it added electrolytes to the formula in 2011 and the patented PEAKO2 to create XTEND Perform in 2015. For more information, visit www.Scivation.com.
About MidOcean Partners
Established in 2003, MidOcean Partners is a New York-based alternative asset manager that specializes in middle market private equity and credit investments. Since inception, MidOcean has managed private equity funds with approximately $4 billion in commitments and focuses on high-quality middle market companies with attractive strategic, operational and financial growth opportunities in the Consumer and Business Services sectors. MidOcean Credit Partners, which launched in 2009, manages approximately $5 billion across a series of alternative credit strategies, collateralized loan obligations (“CLOs”), and customized separately managed accounts. For more information, visit www.MidOceanPartners.com.