Post Holdings has signed a definitive agreement to acquire protein food and drink maker Premier Nutrition Corporation (PNC) for US$180m.
Post said that the move, which sees it take control of the Premier Protein brand, will provide it with a springboard into the active nutrition and supplement market.
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“We are excited to enter this high growth and dynamic category,” said Bill Stiritz, Post chairman and CEO.
The business will operate as a stand-along unit and PNC’s exiting management team will remain in place, Post added.
On a full year basis, the transaction is expected to contribute approximately $130-$140m to net sales and approximately $17-20m to EBITDA.
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