St. Louis, MO — Post Holdings, Inc. has expanded its presence in the sports nutrition category with acquisition of PowerBar and Musashi brands from Nestlé S.A.
The acquisition strengthens Post’s brand portfolio within the active nutrition category, which is expected to grow at a rate of seven percent annually by 2017, according to Euromonitor International, Inc. The company also gains access to the sales and distribution channels for the two brands, which have high consumer recognition and represent more than 90 percent of global category sales, as reported by Euromonitor.
Post will fund the purchase with cash on hand, and expects to close the deal in third-quarter 2014.
In a separate transaction, Post has purchased Dymatize Enterprises, LLC, a maker of protein bars, powders and supplements, and Golden Boy Foods, Ltd., which produces private-label peanut and nut butters, dried fruits and nut snacks. The sale was consummated February 1.
President and CEO of Premier Nutrition David Ritterbush and Dymatize President and CEO Greg Venner will be co-CEOs of the Active Nutrition Group within Post and will report to company President and COO Terence E. Block.
William P. Stiritz, chairman and CEO of Post, says: “It’s truly exciting to continue the transformation of Post and to increase the role active nutrition will play in it.”
Block and CFO Robert V. Vitale will discuss the acquisitions and results of Post’s 2014 first-quarter performance in a conference call on February 7.