Chicago Bar Company LLC (RXBAR) acquired by Kellogg Company
Kellogg Company acquired Chicago Bar Company LLC (RXBAR), a US protein bars brand, on Oct 27, 2017.
Transaction summary
- Target
- Chicago Bar Company LLC (RXBAR)
- Acquirer
- Kellogg Company
- Seller
- -
- Announced
- 2017-10-06
- Geography
- United States
- Type
- Acquisition
- Deal type
- Control
- Stake acquired
- -
- First added
- 2026-10-04
- Latest update
- 2026-10-18
Value and multiples
100% enterprise value
USD 600M
100% enterprise value | USD
Basis: Estimated
Reported price is assumed to be 100% EV unless stated otherwise. Partial-stake estimates are qualified in the basis notes.
EV / revenue
5x
Period: 2017E Net Sales
Basis: Derived from source data
EV / EBITDA
19.5x
EBITDA basis not stated
Basis: Derived from source data
Amounts paid and other reported values
Original reported amounts and bases; a stake payment is distinct from the estimated whole-company valuation.
Consideration: USD 600M
Announced purchase price; announcement separately states approximately $400 million net of tax benefits.
Basis
- Kellogg reports 12–14x forecast 2018 EBITDA on the US$400m price after tax benefits. The 13x midpoint implies US$30.77m EBITDA. Using the US$600m gross EV gives 19.5x EV/EBITDA. US$120m forecast 2017 sales gives 5.0x revenue.
Other reviewed estimates
Earlier estimates and their sources.
Source summary
Kellogg adds RXBAR, fastest growing U.S. nutrition bar brand, to wholesome snacks portfolio
ConfirmedThe purchase price is $600 million
Open sourceKellogg Company Form 10-Q for quarter ended September 30, 2017
ConfirmedOn October 27, 2017, the Company completed its acquisition
Open sourceKellogg Company Form 10-K for fiscal year ended December 30, 2017
Confirmedthe acquisition added $27 million in net sales and $3 million of operating profit
Open sourceKellogg Company 2018 results and 2019 guidance
Confirmedthe acquisition added $19 million and $186 million, respectively, in net sales
Open sourceContinue your research
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