Post, the US cereal giant, has announced it is to spin off its active nutrition business through an IPO.
The company said it had approved a plan to separate its active nutrition business into a publicly traded company, “creating a scalable, high growth asset with dedicated capital resources and the strategic flexibility to pursue both organic and M&A opportunities”.
Post’s nutritional arm markets ready-to-drink protein and other beverages, protein powders, nutrition bars and other nutritional supplements under the Premier Protein, Dymatize, PowerBar, Supreme Protein and Joint Juice brands.
Darcy Horn Davenport, current president of Post’s Active Nutrition business, will serve as CEO of the new public company, which is expected to have its corporate headquarters in St Louis, MO. Commenting on the move, Post president and CEO Rob Vitale said: “This transaction furthers Post’s effort to unlock value with creative structuring. What Darcy and her team have achieved is extraordinary and we look forward to building upon that success”.
Source: Post (via Globe NewsWire)