Alani Nu is reported to be exploring options for a potential sale of the health and wellness start-up, which produces protein bars and energy drinks.

Investment bank JPMorgan Chase & Co. has reportedly been hired by Louisville, Kentucky-based Alani Nu to look into a full or partial sale of the business, according to four unnamed sources cited by Reuters.

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Valuations for the company have been put forward at more than $3bn, the sources quoted by the news agency said.

Set up by Katy Hearn in 2018, Alani Nu partnered with celebrity Kim Kardashian to promote a limited-edition energy drink called Kimade under a so-called ‘Alani by Kim K2’ collaboration, the company said in a statement on 10 July.

Following the online launch through Alani Nu on Monday (17 July), Kimade will also be rolled out in Walmart, Target and Kroger, along with the GNC health chain and The Vitamin Shoppe.

Alani Nu and JPMorgan had not responded to Just Food’s request for comment on the speculation at the time of publication.

Reuters suggested Congo Brands, described as a holding company owned by entrepreneurs Trey Steiger and Max Clemons, holds a ‘significant stake’ in Alani Nu. Hearn’s husband, Haydn Schneider, also has an interest, it said.

The news publication’s sources claim the business generates $100m in EBITDA.

Alani Nu’s health and wellness portfolio also features other own-brand energy drinks, protein shakes and powders, supplements and gummies. The products are already present in Walmart, Target and Kroger stores, according to the company’s Instagram and LinkedIn pages.