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Stock Market & Financial Investment News

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June 30, 2014
18:20 EDTHRLHormel Foods to acquire maker of Muscle Milk sports nutrition products for $450M
Hormel Foods announced that it has entered into a definitive agreement to acquire CytoSport Holdings, maker of Muscle Milk products. Total 2014 annual sales are expected to be approximately $370M. The purchase price is approximately $450M. Hormel Foods expects this acquisition to provide about 5c per share accretion in FY15, with a neutral impact to FY14 earnings, including transaction costs.
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