The brands will form a new Active Nutrition Group within the breakfast food company, which will have annualized revenue of roughly $550m.
This is the latest move by Nestlé, the world’s biggest food company, to shed underperforming assets. In a review of its portfolio, it has already offloaded the bulk of its Jenny Craig weight-loss business last November.
A statement from Post Holdings said that the company expects the acquisition to boost sales in its active nutrition business to about $550m a year. It added that it expects to fund the acquisition from cash reserves.
© FoodBev Media Ltd 2024