US-based 1440 Foods is to open a new production facility to meet what the company says is growing demand for healthy snacks.
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The better-for-you snack company is investing $60m in its new factory located in Jeffersonville in Indiana. The site will employ 200 people.
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1440 Foods, jointly owned by 4×4 Capital and Bain Capital Private Equity, expects the plant to open next year.
The group plans to renovate 200,000 square feet of office and manufacturing space, and install new equipment, representing a total investment of $60m.
1440 Foods said most of its products will eventually be made at the new site.
The company added a factor in choosing Jeffersonville as a location was its “central proximity to distribution points and retailers across the United States”.
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By GlobalDataAlexandre Médicis, 1440 Foods’ chairman, said: “The opening of the Jeffersonville location is a significant milestone in our plan to make protein-rich snacking options accessible to as many people as possible.
“We considered several locations but found that Jeffersonville was perfect due to its proximity to major transportation channels and availability of a skilled and ready workforce. We look forward to becoming part of the Jeffersonville community, and we’re eager to expand our fantastic team in the coming months.”
According to the company, the project is being supported by $3.7m in incentive-based tax credits through the Indiana Economic Development Corporation.
1440 Foods’ portfolio is focused on better-for-you snacking and sports supplement food items. The company owns brands such as Pure Protein under which it sells bars, ready-to-drink beverages, powders, and savoury snacks.
The business’s products are sold through Amazon, and in grocery stores, pharmacies and convenience store chains including Walmart, Target, Kroger, Meijer and Walgreens.
1440 Foods secured investment from private-equity business Bain Capital last year.
Bain Capital snapped up “a significant stake in the company”, alongside existing shareholder 4×4 Capital. Financial details were not disclosed.
Adam Nebesar, a partner at Bain Capital, said at the time the private-equity firm intended to “grow 1440 Foods as a market leader in active lifestyle nutrition”.
