Post buying PowerBar, Musashi brands from Nestle

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ST. LOUIS (AP) — Post Holdings Inc. is buying the PowerBar
and Musashi brands from Nestle SA, further diversifying its business by
expanding into the active nutrition category.
Financial terms were not immediately disclosed.
The PowerBar and Musashi brands make premium bars, powders and gels. Musashi is a leading sports
nutrition brand in Australia.
The transaction also includes other related worldwide assets.
Post
expects to combine the PowerBar and Musashi brands with its current
active nutrition portfolio to create an active nutrition group with
anticipated annual revenue of nearly $550 million. The PowerBar and
Musashi brands will join with Post-owned Premier Nutrition’s Premier
Protein and Joint Juice brands and Dymatize Enterprises’ Dymatize and
Supreme brands.
David Ritterbush, president and CEO of Premier
Nutrition, and Greg Venner, president and CEO of Dymatize, will serve as
co-CEOs of Post’s active nutrition group. Ritterbush and Venner will
report to Post President and Chief Operating Officer Terence E. Block.
The
deal is expected to close in Post’s fiscal third quarter. The company
said Monday that it plans to fund the transaction with available cash.
Post,
based in St. Louis, makes cereals such as Grape-Nuts, Great Grains and
Honeycomb. In January it completed its $370 million acquisition of
Dakota Growers Pasta Company Inc.
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