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GE Capital, Met Life Commit Financing in Nellson Nutraceutical Acquisition

November 25, 2014, 07:13 AM
Filed Under: Nutrional Products

Nellson Nutraceutical, a leading North American formulator and manufacturer of branded and private-label nutritional bar and functional powder products, today announced that it has entered into a definitive agreement to acquire Le Groupe Multibar Inc. (“Multibar”), a Montreal-based manufacturer of nutritional and snack bars. The acquisition significantly increases Nellson’s production capabilities, expands product lines and channels and diversifies its customer mix.

GE Capital and Metropolitan Life Insurance Company have provided Nellson with fully committed credit facilities sufficient to close the transaction.

Nellson is a portfolio company of Kohlberg & Company, L.L.C. , a leading private equity firm headquartered in New York.

Seth H. Hollander, Partner of Kohlberg, commented: "Since our acquisition of Nellson in 2013, we have been focused on identifying acquisitions as a means to grow and expand our capabilities, product offering and customer base. Multibar represents a key step toward that end." Ahmed I. Wahla, also Partner of Kohlberg, added, "Nellson and Multibar are highly complementary businesses, and we are pleased to capitalize on this unique opportunity to create a larger, more diversified company capable of better serving our combined customer bases."

Paul, Weiss, Rifkind, Wharton & Garrison LLP and Stikeman Elliott LLP acted as legal counsel to Nellson. Houlihan Lokey acted as financial advisor to Multibar.

Headquartered in Irwindale, California, Nellson is a leading formulator and manufacturer of branded and private-label nutritional bar and functional powder products in North America.

Founded in 1987 and Headquartered in Montreal, Quebec, Canada, Multibar is a premier producer of nutritional and snack bars in North America.

Kohlberg & Company is a leading private equity firm specializing in middle-market investing. Since its inception in 1987, Kohlberg has organized seven private equity funds, through which it has raised over $5 billion of committed equity capital.

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