NuGo Nutrition acquires protein bar manufacturer Promax
Promax bars, which were launched in 1996 and are described by NuGo as one of the original high-protein sports bars, are sold in stores in the US and Canada and direct to consumers through the brand website.
NuGo said Promax has “great legacy potential”, adding that it plans to use its own expertise in the nutrition bar category and its sales network to create a solid growth platform for the brand.
"We recognized that with Promax's great taste and attractive retail pricing, combined with our dedication to the brand and nutrition bar category expertise, Promax has enormous potential for growth,” added NuGo CEO David Levine.
Free from gluten and artificial sweeteners
Promax products are certified gluten-free, kosher and are free of artificial sweeteners. The original line is available in six flavors containing 20 g of protein with a 2:1 carbs to protein ratio. The brand’s lower-sugar line comprises three flavors sweetened with stevia leaf, and have 18 g of protein.
The acquisition of ProMax comes 18 months after NuGo bought Gnu Foods’ FiberLove bar brand, which is now called NuGo Fiber d'Lish. NuGo said its direct national and international sales team, and strong brand loyalty, was driving growth in Fiber d'Lish.
Pittsburgh-based NuGo makes dark-chocolate covered bars that it said are designed to tap a range of lifestyles, and produces a variety of gluten-free, vegan, low sugar, and Kosher Pareve options. NuGo bars are sold in the US, internationally and online.
Overall US sales of snack bars rose 4.2% year on year in the first six months of the year to total around $3.3bn [IRI 52w/e July 10 2016].
See here for BakeryandSnack’s analysis of the performance of leading US snack bar brands.