FDBusiness.com

Kellogg Company is acquiring Chicago Bar Company, the 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. The purchase price is $600 million, or approximately $400 million net of tax benefits. Growing rapidly, RXBAR’s net sales are expected to be approximately $120 million in 2017

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 a unique and innovative company. Its values, people and cutting-edge approach represent an exciting opportunity for our business. Adding a pioneer in clean-label, high-protein snacking to our portfolio bolsters our already strong wholesome snacks offering. RXBAR is an excellent strategic fit for Kellogg as we pivot to growth,” says Steve Cahillane, chief executive of Kellogg Company. “With its strong millennial consumption and diversified channel presence including e-commerce, RXBAR is perfectly positioned to perform well against future food trends.”