Hormel Foods Corporation, Austin, Minn., completed its purchase of CytoSport Holdings, Inc., the Benecia, Calif., maker of Muscle Milk® products.
Officials say Muscle Milk is the leading brand in the ready-to-drink protein beverage category. They project CytoSport’s total 2014 annual sales at approximately $370 million. The purchase price is approximately $450 million.
Said Hormel, “As a leading provider of premium protein products in the sports nutrition category, CytoSport’s brands align with the company’s focus on protein, while further diversifying the Hormel Foods portfolio. The acquisition will serve as a growth catalyst for the company’s Specialty Foods segment, and also expands its offerings of portable, immediate, protein-rich foods.”
Hormel Foods purchased CytoSport from the Pickett family and TSG Consumer Partners. CytoSport was founded in 1998 by the Pickett family.