•Advantage Sales makes acquisition
Advantage Sales & Marketing announced the acquisition of Program Sales Inc., a food brokerage company focused on meat, seafood, deli and bakery clients and customers.
Terms of the transaction were not disclosed.
“Acquiring Program Sales is a natural strategic fit to enhance our perishables service portfolio. Program Sales is a leader in the Southeast, and will further expand our position as one of the leading sales and marketing agencies in this channel,” said Tanya Domier,CEO of Advantage Sales & Marketing.
William (Buck) Thomas III will lead the new business unit to be called Advantage Program.
Advantage Sales is a supplier to Wal-Mart Stores Inc. with a local office in Rogers.
• Post reports acquisition
Post Holdings agreed to buy protein company Premier Nutrition for $180 million in cash. The deal announced Friday (Aug. 2) gives the cereal maker entry to the active nutrition and supplements businesses.
Premier Nutrition makes protein beverages and foods under its Premier Protein brand and nutritional supplements under its Joint Juice brand. The deal is expected to close by September.
The deal is expected to add roughly $135 million in full year sales, according to analysts. Gross annual operating profits are expected to range between $17 million to $20 million.
Analysts expect the deal to produce a loss this current year, but going forward they expect at least $150 million in annual incremental sales.
Post Holdings is a supplier to Wal-Mart Stores Inc. with a sales office in Northwest Arkansas.
• Kellog revamps cereal amid challenges
Cereal maker Kellogg reported a disappointing growth in its cereal category last quarter and has prompted some changes targeted to adult-health-conscious consumers in hopes of bringing boomers into the category.
Kellogg reported a 3.3% drop in "morning foods" revenue during the recent quarter.
The company said on the innovation front it has introduced Raisin Brand with omega-3 fatty acids, Kashi Chia Heart to Heart and multi-grain Special K.
The Kashi brand has struggled of late, but Kellogg remains confident by leveraging its size with the healthy identity of Kashi there is a real opportunity for innovation.
Kellogg is a major supplier to Wal-Mart Stores and maintains a sales office in Rogers.