Battle Creek, MI — Kellogg announced its acquisition of Chicago-based protein bar company RXBAR, marking the company’s continued shift towards better-for-you food as new CEO Steven A. Cahillane joined this week from Nature’s Bounty. The price is $600 million and the deal is expected to close by year-end.
RXBAR, a protein bar with rapid growing popularity, features iconic, transparent label packaging. The bars are offered in 11 different flavors, including blueberry and maple sea salt. Each bar packs 12 grams of protein and 210-220 calories coming from clean, whole food sources such as egg whites, dates, and nuts. The brand’s “No B.S.” marketing approach has made it a highly talked-about nutrition bar brand.
Cahillane, former CEO of Nature’s Bounty, is looking to rebrand Kellogg by expanding its selection of healthy snacks. This is likely due to industry pressure to conform to the natural foods market, which has become increasingly popular amongst consumers.
“Adding a pioneer in clean-label, high-protein snacking to our portfolio bolsters our already strong wholesome snacks offering,” Cahillane said in a statement. “RXBAR is an excellent strategic fit for Kellogg as we pivot to growth.”
RXBAR says it will still be operating independently, however, it will use Kelloggs’ large-scale platform and reach to expand as a company.
“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,” said Peter Rahal, CEO and Co-Founder of RXBAR.