Nellson Nutraceutical, a leading North American formulator and manufacturer of branded and private-label nutritional bar and functional powder products, announced that it has entered into a definitive agreement to acquire Le Groupe Multibar Inc., a Montreal-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.
Scott Greenwood, CEO of Nellson, who will retain his title in the combined entity, said: “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.”
Jean Filion, President of Multibar, who will stay on as a key member of the executive management team, said: “We are excited about merging with Nellson, and capitalizing on the respective strengths of the two companies in order to benefit our current and prospective customers.”
The combined company will have four manufacturing and R&D facilities offering greater capabilities to customers both in the U.S. and Canada, as well as internationally.
Nellson is a portfolio company of Kohlberg & Company, L.L.C. (“Kohlberg”), a leading private equity firm headquartered in New York. Seth H. Hollander, Partner of Kohlberg, commented: “Since our acquisition of Nellson in 2013, we have been focused on identifying acquisitions as a means to grow and expand our capabilities, product offering and customer base. Multibar represents a key step toward that end.”
The transaction is expected to close in approximately 30-60 days, and is subject to regulatory approvals and other customary closing conditions.
Headquartered in Irwindale, California, Nellson is a leading formulator and manufacturer of branded and private-label nutritional bar and functional powder products in North America. The Company develops and manufactures nutritional bars and functional powders in a wide variety of ingredient formulations and product formats for its customer base of athletic, energy, diet and medical nutrition end markets. Nellson 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.
Founded in 1987 and Headquartered in Montreal, Multibar is a premier producer of nutritional and snack bars in North America. Multibar offers its customers a diverse base of products, and is recognized in the industry for exceptional quality, consistency and reliability of service. In addition, the Company places a strong emphasis on R&D, with unsurpassed institutional knowledge based on nearly 30 years of bar manufacturing expertise. Multibar operates a Montreal based state-of-the art facility, that consists of over 250,000 square feet of production and finished goods warehouse space.
