Jul 1, 2026 – 11.54amCranky Health, owner of The Man Shake weight-loss range, is set to boomerang back into the arms of its founders, former professional rugby league footballer Adam “Mad Dog” MacDougall and his wife Belinda, after a troubled four-and-a-half-year stint in the stables of one of Australia’s largest private equity firms.Street Talk can reveal Pacific Equity Partners has agreed to sell Cranky Health to MacDougall – a former Newcastle Knights premiership winner – and Belinda, following an auction run by Matt Millar’s corporate advisory firm Cannon Capital.Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber?
Former NRL star ‘Mad Dog’ buys back Man Shake business from PEP
Adam MacDougall has emerged as the winning bidder for the nutrition company after PEP hired Cannon Capital to run an auction earlier in the year.
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