Kellogg to Acquire Clean-Label Protein Bar Maker RXBARKellogg to Acquire Clean-Label Protein Bar Maker RXBAR
October 6, 2017
Delving deeper into the snacks category, Kellogg Company said Friday that it plans to acquire Chicago Bar Company LLC, the maker of America’s fastest growing nutrition bar brand, RXBAR, for $600 million.
“RXBAR is a unique and innovative company. Its values, people, and cutting-edge approach represent an exciting opportunity for our business. Adding a pioneer in clean-label, high-protein snacking to our portfolio bolsters our already strong wholesome snacks offering,” said Kellogg Company chief executive officer Steve Cahillane in a press release.
Made from egg whites, fruit and nuts, RXBAR offers 12 grams of protein per bar in 11 flavor varieties. The company also recently launched a line of bars for children featuring smaller portions and kid-friendly flavors.
“With its strong millennial consumption and diversified channel presence including e-commerce, RXBAR is perfectly positioned to perform well against future food trends,” said Cahillane.
Kellogg said it plans to help the firm continue to grow and scale up following the transaction’s close. Chicago Bar will function as a standalone business, the food firms said, utilizing Kellogg’s resources as it expands.
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The sale is expected to reach completion in late 2017 pending fulfillment of customary closing conditions.
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