PURCHASE, N.Y. — PepsiCo will be the new owner of protein drink Muscle Milk when a definitive purchase agreement closes in the second quarter. Purchase, N.Y.-based PepsiCo has agreed to acquire manufacturer CytoSport from Hormel Foods Corp.
“We look forward to welcoming CytoSport to the PepsiCo family," a PepsiCo spokesperson told CSP Daily News. "This transaction is yet another example of ways we are building a consumer-centric portfolio of brands that offer a breadth of options across convenient foods and beverages. It is also consistent with our tuck-in acquisition strategy, and we look forward to working with the CytoSport team following closing to continue to strengthen these brands and capture new growth opportunities.”
Walnut Creek, Calif.-based CytoSport was founded in 1998 and acquired by Hormel Foods in 2014. Its products include protein drinks Muscle Milk, Monster Milk and Cytomax.
“PepsiCo has deep expertise and experience in the sports nutrition category and has been a long-standing distribution partner for CytoSport and the Muscle Milk brand, which puts them in a strong position to grow this dynamic business,” said Jim Snee, chairman, president and CEO of Hormel Foods, Austin, Minn. “We look forward to working with PepsiCo to ensure a smooth transition for our team members, suppliers, customers and consumers.”