Premier Protein, Joint Juice Sold to Post for $180 Million

Perhaps Functional Fruity Pebbles are on the way? Or maybe some Grape Nuts with Premier Protein as the milky medium?

Post Holdings Inc., the cereal maker behind Fruity Pebbles, Grape Nuts, and Honey Bunches of Oats, among others, now has 180 million reasons to start developing those kinds of products, because that’s how much the company paid for Premier Nutrition Corp., the company that makes functional beverages Joint Juice and Premier Protein shakes, among other products.

Premier Nutrition is expected to add about $130 to $140 million in annual revenue, according to Post.

The St. Louis-based cereal maker is leaving existing CEO David Ritterbush in place. Ritterbush, a Red Bull veteran who helped the glucosamine drink maker Joint Juice acquire Premier Nutrition in 2011, and then turn around and rename itself after the protein supplement maker, will continue to run PNC from California.

“We are excited to enter this high growth and dynamic category,” said Bill Stiritz, Post Chairman and Chief Executive Officer. “We could not be more impressed with the terrific quality of the Premier team Dave has put together.”