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Post Buying PowerBar, Musashi Brands From Nestle

Mon, 02/03/2014 - 7:51am

ST. LOUIS (AP) -- Post Holdings Inc. is buying the PowerBar and Musashi brands from Nestle SA, further diversifying its business by expanding into 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.

The transaction also includes other related worldwide assets.

The deal is expected to close in Post's fiscal third quarter. The company said Monday that it plans to fund the transaction with available cash.

Post, based in St. Louis, makes cereals such as Grape-Nuts, Great Grains and Honeycomb. In January it closed on its $370 million acquisition of Dakota Growers Pasta Company Inc.

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