Deutsche-Led Bank Group Stuck With Debt for Protein Bar Buyout

A group of banks led by Deutsche Bank AG has been forced to fund at least a portion of a $875 million term loan they agreed to provide for the acquisition of protein bar brand FitCrunch, according to people with knowledge of the matter.

The banks were unable to sell the debt to institutional loan investors before 1440 Foods closed its purchase of FitCrunch on Nov. 1, said the people, who asked not to be identified discussing private information. In a statement announcing the acquisition’s completion, 1440 Foods said Jefferies Financial Group Inc., a unit of Macquarie Group Ltd. ...