Nellson Nutraceutical has agreed to acquire Canadian nutritional and snack bars producer Le Groupe Multibar for an undisclosed amount.
An agreement to this effect was signed between both the companies.
The transaction, which is subject to regulatory approvals and other customary closing conditions, is expected to be completed by January 2015.
Upon completion, the acquisition will increase Nellson's production capabilities, expand product lines and channels and diversify its customer mix.
Headquartered in Montreal, Multibar offers moulded chocolate, cereal/granola, and multi-layer candy bars; and inclusions.
Nellson Nutraceutical CEO Scott Greenwood 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."
The combined company will have four manufacturing and R&D facilities that will serve customers both in the US and Canada, as well as internationally.
Image: Multibar offers moulded chocolate, cereal/granola, and multi-layer candy bars. Photo: courtesy of Mister GC / FreeDigitalPhotos.net.
