PepsiCo acquires premium protein business CytoSport
PepsiCo is already a long-term distribution partner for CytoSport.
Headquarted in California, CytoSport was founded in 1998 by the Pickett family, before being acquired by Hormel Foods Corporation in 2014. Its products ‘serve the needs of elite athletes, active lifestylists and weekend warriors’, and its products are NSF Certified for Sport. In 2014, Fast Company named CytoSport as one of the world’s top most innovative companies in fitness.
CytoSport's brands include Muscle Milk protein shakes, Evolve (whose products are free from dairy, soy and gluten), Monster Milk and Cytomax.
Jim Snee, president and CEO, Hormel Foods, said: "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 it in a strong position to grow this dynamic business.”
The acquisition of CytoSport is subject to customary closing conditions, including regulatory approvals, and is expected to be completed in 30-60 days.
PepsiCo’s portfolio includes flagship brands Pepsi, Tropicana and Quaker. As it seeks to diversify its business, acquisitions have included at-home sparkling water brand SodaStream in 2018 and kombucha Kevita in 2016.