Nellson extends footprint through M&A

Nellson extends footprint through M&A

Private equity-backed Nellson Nutraceutical has entered into an agreement to buy Le Groupe Multibar, a Canadian manufacturer of nutritional and snack bars, for an undisclosed sum.

The acquisition "significantly increases" Nellson's production capabilities, expands product lines and channels and diversifies its customer mix, the US functional bar and powder manufacturer said.

The combined company will have four manufacturing and R&D facilities, Nellson added, offering "greater capabilities" to customers North America and internationally.

"The merger with Multibar further strengthens our position as a strategic partner of choice within the fast growing nutraceutical and functional snack bars sector," Scott Greenwood, CEO of Nellson, said. "This acquisition combines two respected nutritional bar manufacturers and creates a platform for growth with remarkable capabilities in new product development and best-in-class manufacturing."

Nellson is a portfolio company of US-based private-equity group Kohlberg & Co.

The transaction is expected to close in approximately 30-60 days and is subject to regulatory approvals and customary closing conditions.