US firm Post Holdings snaps up Nestlé PowerBar
The PowerBar business operates mainly in western Europe, including the UK, the US, Canada, Australia, New Zealand and Japan and specialises in energy bars, sports drinks and gel-based foodstuffs.
PowerBar products are designed to aid performance and boost recovery of consumers and professional athletes before and after physical activity.
Post Holdings, based in St Louis, Missouri, makes, markets and distributes branded ready-to-eat cereals in the US and Canada.
The sale, terms of which have not been disclosed, chimes with Nestlé’s declared intention to divest itself of businesses that are not central to its growth strategy.
$550M in annual sales
Post Holdings said it would combine PowerBar and Musashi with its existing active nutrition portfolio to form a group that could claim $550M (£306M) in annual sales. It would also allow it to offer a greater variety of products to consumers, it added.
The buyer cited figures from market analyst Euromonitor claiming the global active nutrition category was expected to grow at a compound annual growth rate of 7% between 2014 and 2017.
Reuters reported Nestlé was looking to sell its PowerBar business in September 2013. Products under the brand are sold in the UK in major supermarkets, online and in health food shops.
