Kellogg to acquire fast growing nutrition bar brand9 Oct 2017
Kellogg is to acquire Chicago Bar Company, maker of RXBAR, a line of clean-label protein bars said to be the fastest growing nutrition bar brand in the United States.
Kellogg is to acquire Chicago Bar Company, maker of RXBAR, a line of clean-label protein bars said to be the fastest growing nutrition bar brand in the United States. RXBAR will continue to operate independently as a standalone business, and will be able to leverage Kellogg's scale and resources to continue driving its growth, Kellogg said."RXBAR is a unique and innovative company. Its values, people and cutting-edge approach represent an exciting opportunity for our business. Adding a pioneer in clean-label, high-protein snacking to our portfolio bolsters our already strong wholesome snacks offering. RXBAR is an excellent strategic fit for Kellogg as we pivot to growth," said Kellogg Company CEO Steve Cahillane. "With its strong millennial consumption and diversified channel presence including e-commerce, RXBAR is perfectly positioned to perform well against future food trends."With a base of egg whites, fruit and nuts, each RXBAR provides 12 grams of protein in 210-220 calories. They are available in 11 different flavours, with additional seasonal and limited-time varieties, and are distributed in the U.S. The company also recently launched RXBAR Kids, which contain the same core ingredients as RXBARs, but in kid-friendly flavours and portions."We carefully considered who the right partner would be for RXBAR's future. We have always been committed to delivering the highest quality products that taste great, and being radically candid and transparent with our consumers, and these priorities remain. 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."The RXBAR team has built an incredible business, with impressive growth and profitability. Our focus will be on helping to drive the brand's continued growth," said Kellogg North America President Paul Norman. "We're excited to welcome the RXBAR team to Kellogg."
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