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Hormel Foods to buy Muscle Milk products maker CytoSport Holdings

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Hormel Foods to buy Muscle Milk products maker CytoSport Holdings
Willmar Minnesota 2208 Trott Ave. SW / P.O. Box 839 56201

(Reuters) — Hormel Foods Corp. said it would buy CytoSport Holdings Inc. for about $450 million, to add Muscle Milk sports nutrition products to its portfolio of brands.

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Hormel Foods said it expects the deal to be neutral to earnings in 2014 and add about 5 cents to earnings by in 2015.

BofA Merrill Lynch served as the financial adviser to Hormel Foods in connection with the deal, the company said.

Muscle Milk products contain lactose-free protein supplements and are often used by athletes and others seeking to build muscle mass.

Hormel Foods is the parent company of Jennie-O Turkey Store, which is based in Willmar.

(Reporting by Devika Krishna Kumar in Bangalore; Editing by Steve Orlofsky)

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