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ST. LOUIS — Cereal maker Post Holdings will be playing a larger role in the supplement space with its proposed acquisition of Premier Nutrition, makers of the Joint Juice brand. The company announced it has signed a definitive agreement to acquire Premier Nutrition on Friday.
PNC is a rapidly growing marketer and distributor of premium protein beverages and foods under its Premier Protein brand and nutritional supplements under its Joint Juice brand. "The acquisition provides Post a platform in the growing active nutrition and supplements businesses," Post stated in a release. "The PNC business will be independently managed by its experienced management team located in Emeryville, California. David Ritterbush, current chief executive officer of PNC, will continue in that role."
Terms of the deal call for $180 million in cash to be paid at the time of closing, subject to a working capital adjustment, and Post anticipates completing the all-cash transaction by September 2013.
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