California-based Nellson Nutraceutical has acquired Multibar of Montreal for an undisclosed sum
Montreal – Nellson Nutraceutical LLC of Irwindale, Calif. has acquired Multibar Foods of Montreal.
The terms of the agreement, which is expected to be complete in January 2015, were not disclosed, reports Food-Business-review.com.
Once it is complete, the acquisition will increase Nellson’s production capabilities, expand its product lines and channels, and help diversify its customer mix.
Multibar offers several varieties of nutrition food bars, such as sugar-reduced, no sugar added, meal replacement, diet supplement, high-protein, sugar-free and low-calorie.
Nellson is a third-party manufacturer and provides nutrition bars, nutritional powders and healthy snacks. The company co-manufactures for major brands in every market channel including CPG (retail, food service, and warehouse sales), weight management, multilevel marketing, store brands, medical distribution and direct to consumer marketing.
Nellson’s CEO, Scott Greenwood, told Food-Business-Review.com that “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.”
The combined company will have four manufacturing and R&D facilities.