ST. LOUIS — Post Holdings, Inc. on Nov 15 said it plans to pursue an initial public offering of its Active Nutrition business. Post said the decision aligns with its focus on creating long-term shareholder value and gives the company the ability to pursue both organic and merger and acquisition opportunities.

Post’s Active Nutrition business markets and distributes ready-to-drink protein and other beverages, protein powders, nutrition bars and other nutritional supplements under the Premier Protein, Dymatize, PowerBar, Supreme Protein and Joint Juice brands.

According to Post, the business has achieved rapid growth in recent years, with net sales increasing at a compound annual growth rate of 30% since 2014. In the year ended Sept. 30, net earnings in the Active Nutrition segment totaled $101.2 million on net sales of $827.5 million. Post attributed the growth to its Premier Protein ready-to-drink shake products driven by strong velocities, distribution gains and new flavors. Post management said it believes the business’s growth characteristics and high cash flow conversion advantageously position it to be a consolidator across a wide range of opportunities.

Under terms of the separation, Post said it intends to sell approximately 20% of the ownership of the new company. The new company will have corporate headquarters in St. Louis with the operating business based in Emeryville, Calif.

Darcy Horn Davenport, current president of Active Nutrition, will become chief executive officer of the new company. Ms. Davenport has been with Active Nutrition since 2009, serving in a variety of leadership roles in marketing and management. She has been president since 2017.

Robert V. Vitale, president and c.e.o. of Post Holdings, will become executive chairman of the board of directors of the new company. Other officers and directors will be named at a later date, Post said.

“This transaction furthers Post’s effort to unlock value with creative structuring,” Mr. Vitale said. “What Darcy and her team have achieved is extraordinary, and we look forward to building upon that success.”