Kelloggs: buys protein bar maker for 600 million dollars.
(CercleFinance.com) - US breakfast cereal company Kelloggs said it has entered into an agreement to acquire Chicago Bar Company, the maker of RXBAR protein bars, for a purchase price of 600 million dollars.
Kellogg CEO Steve Cahillane said RXBAR is well-positioned to perform well against future food trends, given its strong consumption with millennials and diversified channel presence, including e-commerce.
Excluding extraordinary costs, this acquisition is expected to have no impact on EPS in 2017 and 2018.
The transaction is expected to be closed by the end of 2017.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Kellogg CEO Steve Cahillane said RXBAR is well-positioned to perform well against future food trends, given its strong consumption with millennials and diversified channel presence, including e-commerce.
Excluding extraordinary costs, this acquisition is expected to have no impact on EPS in 2017 and 2018.
The transaction is expected to be closed by the end of 2017.
Copyright (c) 2017 CercleFinance.com. All rights reserved.