BENICIA, Calif. — CytoSport Monday evening announced that it will be acquired by Hormel Foods Corporation. CytoSport's brands align with Hormel Food's focus on protein while further diversifying its portfolio and broadening the appeal to younger consumers, the company stated.
CytoSport was founded in 1998 by father-son duo Greg and Mike Pickett, and has remained a family-operated business from its inception. The company produces a complete line of sports nutrition products, including powders, shakes and bars under the Muscle Milk brand. The Pickett family will remain committed to the company's growth and will continue to be involved in day-to-day operations.
"We are excited for the future of the company and are fully confident that aligning our team's knowledge and experience in the sports nutrition world with the incredibly robust global strategies of Hormel Foods, will help the company establish an even stronger portfolio of brands and products," stated CytoSport chairman Greg Pickett. "Over the last 15 years, we've developed one of the strongest brands in the industry and built an entirely new protein beverage category with Muscle Milk. This next step in the company's growth story will enable CytoSport to continue its leadership role in the industry and be a part of a global company with greater resources."
"We view this new opportunity as a tremendous way to expand the CytoSport brand presence on the global scale and align with a company that shares our commitment to employees and consumers," said CytoSport co-founder Mike Pickett. "With the support from a multinational company like Hormel Foods, the entire CytoSport team is confident in the direction of the brands and look forward to continuing to share the brands' experiences with consumers around the country and the world."
TSG Consumer Partners, CytoSport's strategic equity partner, also is selling its stake in the company.
The transaction is subject to customary closing conditions, including the receipt of regulatory approvals in the United States, and is expected to close within 30 days.