Friday, 24 November 2017

 

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Kellogg Company has announced an agreement to acquire Chicago Bar Company LLC, maker of RXBAR, a line of clean-label protein bars made with whole food ingredients and the fastest growing nutrition bar brand in the United States. 

RXBAR will continue to operate independently as a standalone business, and will be able to leverage Kellogg's scale and resources to continue driving its growth.

"RXBAR is an excellent strategic fit for Kellogg as we pivot to growth," said Kellogg Company CEO Steve Cahillane. "With its strong millennial consumption and diversified channel presence including e-commerce, RXBAR is perfectly positioned to perform well against future food trends."

The acquisition by Kellogg is subject to customary closing conditions and is expected to close by the end of 2017. 

The purchase price is USD600m, or approximately USD400m net of tax benefits. Growing rapidly, RXBAR's net sales are expected to be approximately USD120 million in 2017.  

Related articles: 

Kellogg Company Announces New CEO 

Zume Pizza and Kellogg’s Win DuPont Awards for Packaging Innovation 

Kellogg Appoints New CFO

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