Post buying PowerBar, Musashi brands from Nestle (Update)

Feb 03, 2014

Post Holdings Inc. is buying the PowerBar and Musashi brands from Nestle SA, further diversifying its business by expanding into the active nutrition category.

Financial terms were not immediately disclosed.

The PowerBar and Musashi brands make premium bars, powders and gels. Musashi is a leading sports nutrition brand in Australia.

The transaction also includes other related worldwide assets.

Post, based in St. Louis, makes cereals such as Grape-Nuts, Great Grains and Honeycomb. In January it completed its $370 million acquisition of Dakota Growers Pasta Company Inc.

Post said Monday that it expects to combine the PowerBar and Musashi brands with its current active nutrition portfolio to create an active nutrition group with anticipated annual revenue of nearly $550 million. The PowerBar and Musashi brands will join with Post-owned Premier Nutrition's Premier Protein and Joint Juice brands and Dymatize Enterprises LLC's Dymatize and Supreme brands. Dymatize makes premium protein powders, bars and nutritional supplements.

Post also announced Monday that it closed on the acquisitions of Golden Boy Foods Ltd., a maker of private label peanut and other nut butters and dried fruits and snacking nuts, and Dymatize Enterprises. Post announced the deals in December. It bought privately held Golden Boy from affiliates of Tricor Pacific Capital Inc. and other shareholders for $320 million Canadian ($300.2 million U.S.).

Post bought privately held Dymatize from affiliates of TA Associates and other owners for $380 million. It also said in December that there could be an additional payment of up to $17.5 million if Dymatize hits certain profit targets next year.

David Ritterbush, president and CEO of Premier Nutrition, and Greg Venner, president and CEO of Dymatize, will serve as co-CEOs of Post's active nutrition group. Ritterbush and Venner will report to Post President and Chief Operating Officer Terence E. Block.

The deal is expected to close in Post's fiscal third quarter. The company said Monday that it plans to fund the transaction with available cash.

Post's stock gained 69 cents, or 1.3 percent, to $54.24 in morning trading on Monday. Its shares have risen more than 43 percent since a year ago.

Explore further: Japan's NTT to buy German data centre operator

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Reckitt to buy vitamin company Schiff for $1.4B

Nov 21, 2012

Reckitt Benckiser Group PLC said Wednesday that is acquiring vitamin and nutrition supplement maker Schiff Nutrition International Inc. for $1.4 billion, topping an earlier bid by Bayer AG.

Instagram to start showing advertisements

Oct 04, 2013

Instagram, the mobile photo-sharing app owned by Facebook Inc., says it will start showing "occasional" photo and video advertisements in the coming months.

Recommended for you

Japan's NTT to buy German data centre operator

8 hours ago

Japanese telecom giant NTT Communications is looking to acquire German data centre operator e-shelter, as it seeks to cash in on growing demand in Europe, a newspaper reported Saturday.

Google hits back at rivals with futuristic HQ plan

Feb 27, 2015

Google unveiled plans Friday for a new campus headquarters integrating wildlife and sweeping waterways, aiming to make a big statement in Silicon Valley—which is already seeing ambitious projects from Apple ...

Ericsson sues Apple over patent violations

Feb 27, 2015

Swedish telecoms group Ericsson announced Friday a lawsuit against Apple claiming that the US tech giant continued to use its technology in iPhones and other wireless devices after refusing to renew a licencing ...

Stock market shrugs off net neutrality vote

Feb 27, 2015

(AP)—The stock market largely shrugged off the Federal Communications Commission's vote to impose tougher rules on broadband providers like Comcast, Verizon and AT&T to prevent them from creating paid fast lanes for the ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.