Nellson Nutraceutical, a North American formulator and manufacturer of branded and private-label nutritional bar and functional powder products, has entered into a definitive agreement to acquire Le Groupe Multibar, a Canada-based manufacturer of nutritional and snack bars. The acquisition significantly increases Nellson’s production capabilities, expands product lines, and channels and diversifies its customer mix.
“The merger with Multibar further strengthens our position as a strategic partner of choice within the fast growing nutraceutical and functional snack bars sector. This acquisition combines two respected nutritional bar manufacturers and creates a platform for growth with remarkable capabilities in new product development and best-in-class manufacturing,” said Scott Greenwood, CEO, Nellson Nutraceutical.
The combined company will have four manufacturing and research and development facilities offering greater capabilities to customers both in the United States and Canada, as well as internationally. Nellson is a portfolio company of Kohlberg, a private equity firm headquartered in New York.
The transaction is expected to close in approximately 30–60 days, and is subject to regulatory approvals and other customary closing conditions.