Post Holdings Inc. is buying the PowerBar and Musashi brands from Nestle, expanding its holdings in 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.
Post, based in St. Louis, makes cereals such as Grape-Nuts, Great Grains and Honeycomb. In January it completed a $370-million acquisition of Dakota Growers Pasta Co.
Post said Monday that it expects to combine the PowerBar and Musashi brands with its current active nutrition portfolio to create an active nutrition group with 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's Dymatize and Supreme brands. Dymatize makes premium protein powders, bars and nutritional supplements.
Post also announced Monday that it closed on the acquisitions of Golden Boy Foods Ltd., a maker of private label peanut and other nut butters and dried fruits and snacking nuts, and Dymatize Enterprises. Post announced the deals in December. It bought privately held Golden Boy from affiliates of Tricor Pacific Capital Inc. and other shareholders for $300.2 million.
Post bought privately held Dymatize from affiliates of TA Associates and other owners for $380 million.
Nestle, the world's largest food company, has been scaling back its assets. The Swiss food company agreed in November to sell its Jenny Craig diet business in North America and Oceania to private equity firm North Castle Partners for an undisclosed amount.
Associated Press and Bloomberg News contributed to this report.Copyright © 2014, Los Angeles Times