To Press Releases listVevey,February 23, 2000
Nestlé announced today a definitive agreement to purchase PowerBar Inc., the leading US manufacturer of energy and nutrition bars, including its Canadian and European subsidiaries.
The transaction demonstrates Nestlé's commitment to health and nutrition and will provide opportunities for significant incremental growth in the fast-growing nutrition sector. With sales of over US$ 135 million in 1999, PowerBar Inc. is the leading energy and nutrition bar brand in the U.S.A. today. The transaction, which is subject to regulatory approval, is expected to be paid for in part through an exchange of existing Nestlé shares.
Consumers today are increasingly interested in food that promotes health and well-being. This trend, combined with Nestlé's R&D capabilities, its global marketing know-how and its experience as the world's leading nutrition company will allow it to grow this business and expand it globally.