ST. LOUIS — Post Holdings on Monday announced it has agreed to acquire the PowerBar and Musashi brands and related worldwide assets from Nestlé S.A.
Post anticipates combining this transaction with Post's current active nutrition portfolio to form a singular Active Nutrition Group with expected annualized revenue approaching $550 million. The acquired brands participate in a rapidly growing sports nutrition bar and sports nutrition supplement categories. The global active nutrition category is expected to remain strong with the category projected to grow at a compound annual growth rate of 7% between 2014 and 2017, Post projected, citing Euromonitor.
The combination of Premier Nutrition's Premier Protein and Joint Juice brands and Dymatize Enterprises' Dymatize and Supreme brands with the PowerBar and Musashi brands will afford Post a broad portfolio of brands addressing various segments of the category covering body building, endurance, life style and sports nutrition consumer interests and benefits. The combined portfolio will provide the Active Nutrition Group access to all channels of sales and distribution, as well as all leading product forms, including bars, shakes and powders while expanding its presence worldwide.
David Ritterbush, president and CEO of Premier Nutrition, and Greg Venner, president and CEO of Dymatize will serve as co-CEO's of the Active Nutrition Group within Post, reporting to Terence Block, president and COO of Post.
The transaction is expected to be completed in Post's fiscal third quarter, subject to customary closing conditions. Post expects to fund the acquisition with cash on hand.