Adam MacDougall’s Man Shake business gets $400 million PEP investment

A major investor has bought into former NRL player Adam MacDougall’s shake business and his former agent will get a decent chunk of change from it.

Former NRL legend Adam “Mad Dog” MacDougall has kicked another massive goal, this time with a major investor paying more than $400 million to buy into his Man Shake fitness business.

“This is a real rags to riches story,” MacDougall said yesterday after news of the deal with Australian buyout firm Pacific Equity Partners was made public.

“I started this business in my garage with my wife and to have a company like PEP choosing to invest in us is fantastic,” he said.

Newcastle Knight turned businessman Adam MacDougall admits he’s “done pretty well” after selling a controlling stake of his Man Shake business.

Adam MacDougall with Luke Hines. Picture: Sam Ruttyn

MacDougall, 46, started his Cranky Health weight loss enterprise after retiring from a 16-year footy career in which he represented NSW in the State of Origin and won two premierships with the Newcastle Knights.

He took a master’s degree in Business Administration and Business Coaching and gained a Bachelor of Economics before using the knowledge to launch his Cranky Health business with wife Belinda.

MacDougall in his playing days with the Knights.

“We just couldn’t keep up with the demand which is why I wanted to bring in an investor to help us take it to the next level,” he said.

Australian buyout firm Pacific Equity Partners has snapped up a controlling stake in the business in a deal rumoured to be worth more than $400 million.

“I won’t deny we have done pretty well financially out of it,” MacDougall said. “But we remain fully invested in the business and will still be working in it every day.”

Andrew Abdo and Adam MacDougall at NRL headquarters.

PEP is expected to use its knowledge with its other consumer businesses including New Zealand based Manuka Health and Four N Twenty pies to help grow the Man Shake business into a global brand.

“For an average footballer to go on to business with a company like that and still be involved is amazing,” MacDougall said. “I will be working with them now to take it on to the next level.”

A source close to the deal said: “It’s a huge win for Adam and proof that hard work pays off. He’s worked his backside off to build up the business and he’s helped heaps of people too.”

Payday … original 10 per cent shareholder and adviser Nick Fordham.

MacDougall has donated time and money to charity including The Mark Hughes Foundation to tackle brain cancer.

“He’s a pretty modest bloke so I wouldn’t expect him to be bragging about it. It’s one of the biggest success stories to come out of rugby league,” said the source.

Other NRL players who have gone to start successful businesses include Sean Garlick, whose company Garlo’s Pies now produce 80,000 pies a day, and Ryan Girdler whose coffee shops are expanding across the Northern Beaches.

The deal is also understood to have included a payout to the company’s original 10 per cent shareholder and former adviser Nick Fordham.

“I’m very grateful to have been part of this journey and incredible company. I wish them all the best for the future,” he said.