IRWINDALE, CALIF. — Nellson Nutraceutical, a manufacturer of nutritional bars and functional powder products, has agreed to acquire Le Groupe Multibar, a Montreal-based maker of snack bars. Terms of the agreement were not disclosed.
The acquisition broadens Nellson’s production capabilities, product lines, channels and customer mix. Established in 1987, Multibar formulates a range of snack and nutrition bars that include sugar-free, no-sugar added, meal replacement, high-protein and low-calorie options.
“The merger with Multibar further strengthens our position as a strategic partner of choice within the fast growing Nutraceutical and functional snack bars sector,” said Scott Greenwood, chief executive officer of Nellson. “This acquisition combines two respected nutritional bar manufacturers and creates a platform for growth with remarkable capabilities in new product development and best-in-class manufacturing.”
The combined company will have four manufacturing and research and development facilities, offering increased capabilities to customers in North America and around the world.
Nellson, a portfolio company of New York-based private equity firm Kohlberg & Co., makes branded and private label products for athletic, energy, diet and medical nutrition markets. The company co-manufactures for top brands in a number of channels, including consumer packaged goods, weight management, multi-level marketing, store brands, medical distribution and direct-to-consumer marketing.
“Since our acquisition of Nellson in 2013, we have been focused on identifying acquisitions as a means to grow and expand our capabilities, product offering and customer base,” said Seth Hollander, partner of Kohlberg. “Multibar represents a key step toward that end.”The transaction is expected to close in approximately 30 to 60 days, subject to regulatory approvals and other customary closing conditions.