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Hormel Buys Protein-Based Foods Maker CytoSport

June 30, 2014: 12:00 AM EST
Meat processor Hormel Foods will acquire protein powder maker CytoSport Holdings for about $450 million. The move gives Hormel, producer of Spam, a broader profile in the growing market for high-protein supplements. CytoSport sells Muscle Milk and 100% Whey protein powder to consumers interested in weight loss, body building and fitness. Hormel CEO Jeffrey Ettinger said the acquisition “will build upon our strength in protein”. Researcher Nielsen said U.S. sales of packaged protein foods rose to $7.5 billion in February 2014, a 50 increase from four years ago. In 2013, Hormel acquired the Skippy peanut butter brand from Unilever.
Dana Mattioli et al., "Hormel Foods Agrees to Buy Muscle Milk Maker", The Wall Street Journal, June 30, 2014, © Dow Jones & Company, Inc.
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