Home Food Kellogg’s to buy protein-bar maker RXBAR for US $600 million

Kellogg’s to buy protein-bar maker RXBAR for US $600 million

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Kellogg’s is buying the upstart company behind protein bar maker for US $600 million.

Kellogg's to buy protein-bar maker RXBAR for US 0 million
RXBAR, which is owned by Chicago Bar Co, will continue to operate independently after the deal

RXBAR, which is owned by , will continue to operate independently after the deal, Kellogg’s said in a statement.

“RXBAR is a unique and innovative company,” Kellogg’s new CEO said in prepared remarks released Friday. “Adding a pioneer in clean-label, high-protein snacking to our portfolio bolsters our already strong wholesome snacks offering.”

Kellogg’s said it will pay about US $400 million net of tax benefits for the company and RXBAR’s net sales are expected to be about US $120 million in 2017.

The deal is expected to be completed by the end of the year.

RXBar says its bars are made with egg whites, fruits and nuts, and exclude dairy, soy or gluten.