Flexing Its Muscle: Is BUILT Brands Headed for a Sale?

BUILT Brands may be the latest protein bar producer to explore an exit, according to Reuters.

Citing sources familiar with the matter, the publication reported that BUILT has hired investment firm Houlihan Lokey to test the market in preparation for a sale that could potentially value the brand at more than $1 billion.

Founded in 2018, the Utah-based brand produces a portfolio of “puff” protein bars in a range of flavors, including Cookie Dough Chunk, Strawberries ‘N Cream and Peanut Butter Cup. Each bar delivers 15-17 grams of protein per serving, depending on the variety, and also contains collagen. As of 2023, BUILT’s products are available in over 3,700 doors nationwide, including Walmart, CVS and Bristol Farms.

In 2020, the brand completed an “all-encompassing” relaunch that included the relocation of its headquarters, the launch of new product offerings and the return to its original proprietary formulation for its bars. Its products are made at the company’s 180,000 sq. ft. facility in American Fork, Utah, which has the capacity to produce up to 1.2 million bars per day.

“We take pride in the balance of health and taste across our product portfolio. Every day feels like a cheat day, but it’s not. From day one, we’ve wanted customers to enjoy the experience of eating healthy,” said Nick Greer, co-founder of BUILT, in a statement at the time of the rebrand.

Swirling rumors of a sale come as protein continues to infiltrate nearly every corner of the food and beverage industry, from Kroger’s private label line of frozen protein meals and snacks to Primal Kitchen co-founder Morgan Zanotti’s new protein-infused sparkling water.

Protein bars in particular have become a prime target for acquisitions by food companies and private equity firms alike. Most recently, Ferrero Group bulked up its portfolio with its purchase of Power Crunch from Bio-Nutritional Research Group, Inc. in January. In 2024, PE-backed 1440 Foods snapped up FITCRUNCH.