BUILT Bar, the Utah-based protein bar company, is exploring a potential sale that could value the business at over $1bn, according to an exclusive report by Reuters.

The company has appointed Houlihan Lokey to advise on the process, though neither party has commented publicly.

Founded in 2018 by entrepreneur Nick Greer, BUILT Bar started as a small garage venture in American Fork, Utah, and has since grown into a national brand. Its signature protein “puff” bars, available in flavours such as banana cream pie, peach punch, and s’mores, are sold both online and through major retailers including Costco and CVS.

Greer, who bought out his business partner several years after launch, has led the company through rapid expansion, capitalising on rising consumer demand for high-protein snacks and functional nutrition.

The potential sale adds to a flurry of M&A activity in the protein bar category. Ferrero Group acquired Power Crunch earlier this year, while Bain Capital-backed 1440 Foods bought FitCrunch in 2024. Mondelez International acquired Clif Bar in 2022, and Mars purchased KIND in 2020.

Industry analysts expect continued consolidation in the nutrition and wellness space, as consumer brands and private equity firms target high-growth functional food companies.

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