BATTLE CREEK, MICH. — The Kellogg Co. has entered into an agreement to acquire Chicago Bar Co., L.L.C., maker of RXBAR clean label protein bars, for $600 million.
|Steve Cahillane, c.e.o. of Kellogg|
“RXBAR is a unique and innovative company,” said Steve Cahillane, chief executive officer of Kellogg. “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. With its strong millennial consumption and diversified channel presence including e-commerce, RXBAR is perfectly positioned to perform well against future food trends.”
With six or fewer simple ingredients and 12 grams of protein, RXBAR offers 11 varieties of bars ranging from apple cinnamon to mint chocolate chip to pumpkin spice. The bars contain no gluten, soy, dairy or added sugar. Ingredients are listed on the front of the packaging, down to the number of dates, almonds and egg whites used per bar.
|Peter Rahal, co-founder and c.e.o. of RXBAR|
“We carefully considered who the right partner would be for RXBAR’s future,” said Peter Rahal, co-founder and c.e.o. of RXBAR. “We have always been committed to delivering the highest quality products that taste great, and being radically candid and transparent with our consumers, and these priorities remain. Joining Kellogg is not only a great cultural fit, but it provides us with the tools and resources to accelerate our growth so the brand can scale even faster than it is today.”
RXBAR will continue to operate independently as a standalone business, leveraging Kellogg’s scale and resources for further growth, the company said. RXBAR’s net sales are expected to be approximately $120 million in 2017.
|Paul Norman, president of Kellogg North America|