Glanbia quiet on Muscle Milk firm takeover reports
Citing sources close to the matter, Reuters reported earlier today that Glanbia is currently head-to-head with US food firm Post Holdings in the race to acquire CytoSport, the manufacturer of Muscle Milk, CytoSport, CytoSport Monster, and Evolve brand products.
The sports nutrition product specialist also initially drew interest from WhiteWave Foods and Hormel Foods, Reuters added.
Private equity firm, TSG Consumer Partners, and the Pickett family, which set up the business in 1998, co-own CytoSport. Reports initially emerged in October 2013 that TSG had drafted in Credit Suisse to find potential suitors for CytoSport. It is reportedly hoping to make more than $500m (€365m) from the sale.
Kilkenny, Ireland-based Glanbia has declined to comment on what it called “speculation.”
“We won’t be commenting at all,” Glanbia corporate communications executive, Jack Kissane, told DairyReporter.com.
“When it comes to speculation we do not comment,” he said.
TSG also refused an opportunity to respond to the reports.
"We don't have any comment at this time," said a spokesperson for TSG.
