Cereal maker Post Holdings Inc. (NYSE: POST), known for brands such as Pebbles and Honeycombs, is buying Premier Nutrition Corp. for $180 million.
The Emeryville, Calif.-based target markets and distributes protein beverages and foods under the Premier Protein brand, and nutritional supplements under the Joint Juice brand.
The deal gives Post a platform in the nutrition and supplements business.
St. Louis, Mo.-based Post manufactures, markets and distributes branded cereals through Post Foods LLC and Attune Foods LLC. Brands include Honey Bunches of Oats, Great Grains, Post Shredded Wheat, Post Raisin Bran and Grape-Nuts.
Other recent snack deals include Investcorp’s purchase of Tyrrells Potato Crisps, KKR Asset Management LLC’s acquisition of a minority stake in PT Tiga Pilar Sejahtera Food Tbk and Altamont Capital Partners’ deal for Richard’s Cajun Foods and Blue Ribbon.