Kellogg Co. (NYSE: K) has agreed to acquire protein bar maker RXbar for about $600 million. The addition of Rxbar will help Kellogg appeal to consumers who demand healthy convenient snacks.

"With its strong millennial consumption and diversified channel presence including e-commerce, Rxbar is perfectly positioned to perform well against future food trends," says Kellogg CEO Steve Cahillane. Rxbar expects to finish 2017 with around $120 million in sales.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.