PepsiCo has agreed to buy CytoSport Inc, including the Muscle Milk and Evolve Protein brands, from Hormel Foods Corporation. The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to be completed in 30-60 days.
“PepsiCo has deep expertise and experience in the sports nutrition category and has been a long-standing distribution partner for CytoSport and the Muscle Milk brand, which puts them in a strong position to grow this dynamic business,” said Jim Snee, chairman of the board, president and CEO at Hormel Foods. “We look forward to working with PepsiCo to ensure a smooth transition for our team members, suppliers, customers and consumers.”
Hormel Foods acquired CytoSport in 2014.
Source: Nutraceuticals World
