Post Foods, a US-based cereal brands manufacturer, has acquired the branded food and beverage unit of Premier Nutrition (PNC) for $180m in cash.
Headquartered in Emeryville, California, PNC offers protein beverages and foods under its Premier Protein brand and nutritional supplements under its Joint Juice brand.
The deal allows Post to foray into the growing active nutrition and supplements businesses, while PNC will be independently managed by its management team in California and its current CEO David Ritterbush will continue in that role.
In August, Post Foods signed a definitive agreement to acquire PNC.
Post Foods expects the transaction to contribute approximately $130m-$140m to net sales and approximately $17m-$20m to EBITDA on a full-year basis.