PowerBar

PowerBar
Subsidiary
Industry Food processing
Founded 1986
Founder Brian Maxwell, Jennifer Biddulph
Headquarters Glendale, California, United States
Area served
 North America, Europe
Products Sports nutrition
Revenue US$ 175 million (estimated, 2013)
Owner Post Holdings
Website www.powerbar.com
Photo of Bay Area (2005), with PowerBar sign just recognizable, at top of high rise in downtown Berkeley (center left)

PowerBar, Inc. is an American maker of energy bars and other related products (particularly sports drinks, gel-based foodstuffs for distance athletes, and the Pria bars targeted at women.

History

The PowerBar company was founded by Brian Maxwell, a Canadian athlete and entrepreneur and Mike McCollum, in his kitchen with Maxwell's girlfriend, Jennifer Biddulph, a nutritionist who later became his wife. They used $55,000 in cash to launch the company in 1986 in Berkeley, California. This was the first "energy bar" for use by endurance athletes, such as ultra marathoners, jiu jitsu practitioners and cyclists, while competing. He eventually acquired a headquarters building in downtown Berkeley.

The company eventually earned $150 million in sales before being purchased by Nestlé in 2000 for $375 million.

In February 2007, PowerBar moved its headquarters from Berkeley, California to the Nestlé headquarters in Glendale, California. With the move came the hiring of an entirely new marketing team.

On February 3, 2014, Post Holdings announced it has reached an agreement to acquire PowerBar, Musashi and related worldwide assets from Nestlé.[1]

See also

References

  1. ↑ "Post acquires PowerBar, Musashi brands from Nestlé". Drug Store News. February 3, 2014. Retrieved February 4, 2014.
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